Case Study: Intelligence Fusion

When Michael McCabe founded Intelligence Fusion, he had a clear vision to transform how organisations access and use threat intelligence. Turning that vision into a scalable software business, however, required more than an innovative idea.

In this video, Michael McCabe, CEO of Intelligence Fusion, and Maven explore how investment through the Finance Durham Fund, combined with strategic guidance and a long-term partnership, helped the business evolve from a minimum viable product into an established provider of threat intelligence solutions. They discuss how the partnership supported product development, encouraged long-term strategic thinking and enabled the business to scale, culminating in a successful exit through Intelligence Fusion's acquisition by Sigma7.

Michael McCabe: My business is Intelligence Fusion, and we are a threat intelligence data provider and software development company based in Durham city. We provide threat intelligence data that people can access and we also sell the data via our API to other security intelligence companies. So, the reason why we first looked for external investment was to really build the platform that I wanted to build. So, I had the idea for intelligence fusion when I was working in the private security sector in Iraq. I came back and I needed the capital to actually build the technology just to prove that this MVP that we've built there actually has a market for what we were trying to provide.

Michael Dickens: We were attracted to Intelligence Fusion as an investment opportunity because the team, technology and the market provided investment cash into the business to help them achieve what they wanted to achieve but also we have effectively instilled corporate responsibility. We're here to positively challenge management to set a strategy not just for working in the trenches but to get a helicopter view. The company has gone from a minimal viable product to a fully developed product and they've grown their team from a handful of people to a team of over 20.

Michael McCabe: Finance Durham and Maven are helping us to achieve our objectives through providing us with access to capital whether that's through equity investment or convertible loans. That capital is then used to increase our various teams, such as; technology, sales, marketing,  and our operations, as well as to provide us with guidance and advice in relation to potential new funding opportunities as we go forward to really grow the business towards an exit.

One of the reasons why I chose Finance Durham was because they were a local investment arm. They had offices here and I could actually go meet the investment managers and pitch to them. In part why we want to work with Maven was because they had deeper pockets for future races so we grew the business and got bigger we saw them as being a long-term partner who could write larger checks as we grew as a business so the key objectives for us at the moment is heading through to break even and into profitability as a business which is a key milestone for any business to have to achieve. As well as nice milestone for us to hit will be one million pound in annual recurring revenue which as a SAS business is really core to what we're trying to achieve. Personally, I never switched off to Intelligence Fusion, I haven't switched off in the last seven years but it's one of the best things I've ever done because it's allowed me to sort of realise a dream that I wanted to do. I think the key thing is that without Finance Durham I wouldn't be saying it now where I'm the chief executive of my own company.