Case Study: Intelligence Fusion
Entrepreneur Michael McCabe had ambitions to develop bespoke threat intelligence data and software solutions for global security teams. However, in order to build out the platform, the business required external investment.
In this video, Michael, CEO at Intelligence Fusion and Michael Dickens, Investment Manager at Maven, discuss how funding through the Finance Durham Fund enabled the business to scale its minimum viable product to a fully-fledged enterprise product that fused together innovative technology, military intelligence principles, and client-led design to provide a unique and tailored approach to intelligence collection for organisations across every sector. Intelligence Fusion is now an established name in the security sector and the Finance Durham Fund recently completed a profitable exit from the business through a sale to global risk services specialist, 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.
Case Study: Bright Network
VCT funding is helping the business grow its highly scalable new SaaS platform, and expand into lateral recruitment markets.
Case Study: Envitia
Maven leads MBO of Envitia to help accelerate the growth of the business through further product development in AI & ML as well as expansion into new sectors.
Case Study: Intelligence Fusion
Funding through the Finance Durham Fund helps the business take its next step by transitioning its minimum viable product to a full-scale commercial product.
Case Study: John McGavigan
Maven helps the senior management team complete the buyout of the business and supports McGavigan's successful expansion into China.
Case Study: Membr
Hear about how funding through NPIF Maven Equity Finance is enabling Membr to expand overseas and keep on track to achieving its growth ambitions.
Case Study: MirrorWeb
Funding from the Maven VCTs is supporting the continued growth of the business as it seeks to capitalise on market opportunities in both the UK and US.
Case Study: MirrorWeb
Watch David Clee, CEO of MirrorWeb and Jeremy Thompson, Partner at Maven discuss the business' NPIF investment and how the Northern Powerhouse Investment Fund is backing ambition across the region.
Case Study: Orka Technology Group
Multiple rounds of funding through NPIF Maven Equity Finance enables start-up Orka to grow significantly.
Case Study: Parsons Containers
Capital and support from the Finance Durham Fund enables management to complete a management buyout and grow its self storage business across North East England.
Case Study: Quorum Cyber
Maven’s VCT investment enabled Quorum to capitalise on the significant growth opportunities they were seeing in the cybersecurity market.
Case Study: Yimba
Watch Robert Dowd, CEO at Yimba, and Alex Rothwell, Investment Director at Maven, discuss the importance of tailoring a funding package that works for the business now as well as its long term growth objectives.
Guiding our investee companies through familiar challenges
No matter the problem, big or small, our team aims to provide our portfolio companies with the resources and expertise required to help you scale and achieve your goals.
Misconceptions about Private Equity
Hear from some of our portfolio companies as they debunk the myths around private equity finance.
Spotting future potential in a business
Early stage businesses are rarely the finished article and so our team specialises in seeing beyond that and spotting the real growth potential.
The benefits of active portfolio management
We back people, not just businesses, and together we aim to enhance your business by providing the capital and expertise to help you accelerate growth.
Top tips for entrepreneurs looking to scale their business
Business leaders and entrepreneurs from some of our investee companies discuss their advice for preparing your business for growth.
What is the Finance Durham Fund
Learn more about the Finance Durham Fund and how it is transforming the financial landscape for growth focused businesses across County Durham
What is the Northern Powerhouse Investment Fund
Find out more about the equity fund which Maven manages and how it is helping ambitious North West businesses to fulfil their growth potential.
When is Private Equity right for your business?
Private equity is more than just an exit path, it can provide ambitious business leaders with the capital and expertise they require to accelerate their organisations growth.
Why are VCTs proving attractive to investors?
A look at how VCTs are enabling investors to access private markets opportunities to diversify their portfolio as volatile public market conditions persist.
No matches found