Published: Jan 12, 2022
Focus: Growth Capital
CYSIAM brings deep technical expertise, project delivery skills and operational support experience to a diverse range of organisations across both government and the private sector. Founded in 2019, CYSIAM has rapidly expanded its capabilities to include international capacity building and cyber defence operations, and operates a wraparound Managed Service for clients seeking a fully outsourced cybersecurity solution.
The Maven VCTs investment in CYSIAM is the first external capital raised by the company. The business has already built up an impressive portfolio, working with central government, public sector services, Big Four consultancy firms, and a growing list of high profile private sector clients. Of particular note, CYSIAM is a partner to KPMG in the delivery of the UK Foreign, Commonwealth and Development Office (FCDO) Digital Access Programme which aims to catalyse more inclusive, affordable, safe and secure digital access for excluded and under served communities in Kenya, Nigeria, South Africa, Brazil and Indonesia. CYSIAM is also expanding its existing client base in the legal and financial services sectors, supporting firms in the design, enhancement, and delivery of operational resilience strategies.
Maven’s investment will allow the CYSIAM team to further develop its services and brand awareness, with a specific focus on scaling the Managed Services business whilst building on more established core revenue streams.
The investment builds on Maven’s strong track record in the cybersecurity space, which has included the investments in Quorum Cyber and Symphonic Software that Maven exited for 6.5x and 2.9x returns respectively. The sector is experiencing rapid growth as a result of prolific digitalisation across all sectors and a commensurate rise in cybercrime – a trend accelerated by the disruption and change to working patterns brought about by the pandemic.
“CYSIAM has already demonstrated its capability in an exciting marketplace, working with a diverse base of high quality clients. We have been impressed by the experience and expertise of the team at CYSIAM, the culture they have developed and the reputation they have in their sector. We look forward to partnering with them over the coming years to develop the company’s offerings and scale the business further.”
Catrin Dilloway, Investment Manager at Maven
“We are delighted to have an experienced investor like Maven working alongside us. We founded CYSIAM three years ago and are extremely proud of the world class team that we have assembled so far. With Maven’s support, we will continue to grow our reputation as the partner of choice, dedicated to protecting our clients’ success. From our Cyber Capacity Building work with international governments, to our Cyber Defence Operations projects delivering end-to-end managed security services, everyone at CYSIAM is passionate about making the digital world a safe, secure, and more prosperous place.”
Steve Lancaster, CEO of CYSIAM