In January 2022 the Maven VCTs exited their investment in award-winning cybersecurity business, Quorum Cyber, realising an overall money multiple return of 6.5x for shareholders after just 18 months, including the value of a retained minority holding in the business.
Headquartered in Edinburgh, one of the world’s leading centres for cyber security talent and innovation, Quorum provides professional and managed security services including a fully managed detect and response capability that enables clients to operate confidently in an increasingly hostile environment.
Since the Maven VCTs first invested in June 2020, Quorum increased both annual recurring revenues and headcount fourfold and entered the US market. Crucially, Quorum also strengthened its partnership with Microsoft and is recognised by industry commentators as an established player in its sector.
High-profile cyber attacks, election security, as well as ongoing discussions around data privacy, ensure that cyber security continues to make the headlines. Quorum has capitalised on this trend to establish a reputation for offering customer-centric and highly flexible solutions across a range of sectors, using cutting edge software tools, alongside a highly credible and scalable technology platform as part of its partnership with Microsoft.
“Our successful partnership with Maven has enabled us to accelerate growth and scale our business and has demonstrated what we can achieve with the right team and direction. Personally, I’m incredibly proud of what we have achieved during our time with Maven. The business is ideally positioned for continued rapid growth, and I look forward to working as closely with our new private equity partner.”
Federico Charosky, CEO at Quorum Cyber
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