Building a leading cyber security platform through investment in people and innovation

Quorum Cyber is a cyber security business that helps organisations protect themselves against increasingly sophisticated digital threats. Combining managed and professional services, the company supports customers across a broad range of sectors and geographies, helping them strengthen their cyber resilience and respond effectively when incidents occur.

As CEO Federico Charosky explains, "We provide two basic services. We provide pre-emptive services, trying to get people to be more secure or defensive and we do reactive services, so post attack, we're there to help aid the recovery."

The business was founded at a time when organisations were becoming increasingly dependent on digital infrastructure, cloud services and connected systems. At the same time, cyber threats were growing in both scale and sophistication.

"An increase in people working from home and the current geopolitical arena all mean that our services are now highly relevant," says Federico.

Today, cyber security sits firmly at the top of the corporate agenda.

"Cybersecurity is now at the top of the agenda for most Boards, regardless of company size or industry," Federico continues. "There has been a dramatic increase in cyber attacks that have caused real damage to organisations and nations across the world. Where before it might have been perceived as a luxury or a bit of an insurance policy, Boards are now super concerned and cognisant of the risks."

Having established a scalable proposition and proven demand for its services, Quorum's focus shifted towards capitalising on the significant market opportunity ahead.

 

For Maven, Quorum represented an opportunity to back an ambitious management team operating in one of the fastest-growing segments of the technology market.

The business had developed innovative cyber security solutions, established a strong reputation with customers and demonstrated a clear ability to address increasingly complex cyber threats.

Importantly, management had a compelling vision for growth and a clear strategy for expanding both its capabilities and international footprint.

"We wanted to keep the momentum going and work with larger customers across the world, and the reason for working with Maven was because they could fuel that growth," says Federico. "When you are a company the size we are you need that help to allow you to grow faster."

For David Milroy, Partner at Maven, one of the key attractions was the quality of the team and the opportunity to support them as they scaled the business.

"Like a lot of high growth businesses, the biggest challenge is getting the right talent into the business," says David. "There are a lot of companies looking for highly talented individuals with specific skill sets in a very small talent pool. Clearly, one of the biggest attractions of taking on investment is that it gives you the opportunity to go after that talent."

Beyond providing capital, Maven worked closely with management to help strengthen the business and prepare it for its next phase of growth.

For Federico, one of the most important factors when selecting an investor was finding a genuine partner with experience of scaling businesses.

"One of the reasons we ended up choosing Maven was that we wanted a true partner," he explains. "We can look after the technology side of things all day long because we are cyber security specialists, but we didn't have prior experience of scaling a business and we wanted a partner who could support us on a number of fronts."

The partnership focused on introducing the structures, governance and operational disciplines required to support a larger organisation.

"We wanted somebody who was actively involved, not removed," Federico continues. "We needed someone who we knew could plug into all our needs now, adapt when our needs changed, and be there at every step of our growth journey."

As part of this process, Quorum strengthened its leadership team and governance structures through the appointment of a Finance Director and Chair.

"It's impossible to get involved and suddenly expect to understand it better than management. That just doesn't happen," says David. "Instead, it is about growing your business in tandem with our help, support and strategic input. We helped Quorum introduce the processes and rigour that we would see in more advanced businesses."

The collaborative approach proved particularly important as the business entered a period of rapid growth.

"We've had a fantastic relationship with Maven since day one," says Federico. "Their approach is completely different to what one might expect of an investor. It's not all about the numbers. It's about the team pulling together to achieve what all shareholders want to achieve, value creation."

The combination of strong market demand, investment in people and a strengthened operating platform enabled Quorum to scale rapidly.

During Maven's investment, annual recurring revenues and headcount increased fourfold. The business successfully entered the US market, strengthened its strategic partnership with Microsoft and continued to secure increasingly significant contracts across multiple sectors and geographies.

The growing scale and complexity of customer engagements reflected Quorum's evolution into a leading cyber security platform capable of supporting organisations operating in increasingly demanding digital environments.
The company also became recognised as a leading player within the cyber security sector, with its solutions helping organisations strengthen their cyber resilience and confidently embrace digital transformation.