London, 3rd June 2019: The London Office for Rapid Cybersecurity Advancement (LORCA) today announces the 15 scaling cyber companies that will form its third cohort. With the programme growing from strength to strength, LORCA is fast establishing itself as the continent’s preeminent cybersecurity hub, supporting the most promising companies in the field.
The latest group of scaleups to join represents the most international cohort yet, with companies from Italy, Spain and South Korea entering the programme, along with many UK companies outside of London.
The third LORCA cohort has focussed particularly on solutions that will:
- Build cybersecurity into the underlying software or hardware of tech solutions.
- Address cyber fundamentals.
- Support innovative approaches that go beyond current offerings and provide proactive,
These were the three challenge areas that informed LORCA’s latest search for cyber scaleups to support, which was informed by consulting with industry experts and leaders from across the cybersecurity and technology sectors.
The third cohort includes Elemendar, which has developed an AI analyst for cyber threat intelligence, and Threat Status, which has a solution designed to collect, analyse and alert on billions of breached credentials from the deep web, closed forums, paste sites and the dark web. Further cohort members include D-RisQ Ltd, which develops and uses automatic high-integrity software verification tools, and cyber threat intelligence company Security Alliance, which is also a member of Plexal’s workspace.
The full list of members for cohort three are:
- Threat Status
- CTO Technologies (CyberCentral)
- D-RisQ Ltd
- Hack The Box
- Quant Network
- Security Alliance
- Storage Made Easy
- Uleska Ltd
Chosen for their growth potential, including commercial application, the 15 scaleups will receive a year of bespoke, world-class support designed to help them scale at the government-backed programme which is delivered by innovation centre Plexal (based at tech and innovation campus Here East), Deloitte and the Centre for Secure Information Technologies (CSIT) at Queen’s University Belfast.
The cohort will have unique access to leading experts, including one-to-one commercial and technical support from Deloitte’s Cyber Risk Service team and world-class academic and engineering support from the CSIT.
LORCA, which opened in June 2018 with £13.5m of funding from the Department for Digital, Culture, Media & Sport (DCMS), will support the 15 companies to scale their organisations at pace, access and grow into new markets, secure further investment and recruit and retain the best talent. This puts the cybersecurity centre well on track to support 72 scaling companies by 2021.
LORCA has had considerable success in its first year of operation. Highlights include companies doubling the investment they started with, increasing average value of contracts by 20%. LORCA cohort companies have been supported to rebrand to reach new markets and have utilised the dedicated engineering support provided to adapt their products for different industries and new markets. Companies which have been involved with LORCA to date include the Scottish cyber star ZoneFox, which was acquired by Fortinet whilst part of LORCA, Crypto Quantique, which has landed significant investment during its first six months at LORCA, and CyberOwl, which has landed a contract with Ministry of Defence as a result of programme involvement.
Jon Inns, CEO of Threat Status, said: ““We’re delighted to have been selected to participate in LORCA. It’s a testament to both the work we have put in to our technology over the last two years and to the genuine threat that data leaks now pose to businesses across the UK”.
Saj Huq, Programme Director of LORCA, said: “We’re delighted with the calibre of the new additions to our programme, with the latest cohort representing a host of new and exciting cyber solutions which we’ll be able to scale and help bring to market. We’re particularly pleased with the international flavour which the latest group of scaleups brings to LORCA, fortifying our position as a global cyber hub and the UK’s foremost destination for the most advanced technological solutions.”
Minister for Digital Margot James said: “We want the UK to be at the forefront of tackling cyber threats and encourage the best and brightest to come up with new and innovative solutions to combat the ever changing cyber risks.
“Ahead of London Tech Week, it’s great to see that LORCA is now welcoming international companies to the capital, making this a truly global effort to ensure we have a Britain that’s fit for the future.
Louise Cushnahan, Head of Innovation at CSIT, said: “Having 15 companies join this cohort highlights the breadth of innovative and emerging cyber security focused activity within the UK ecosystem. This augers well for the growth of the industry and its societal and economic impact for the nation.”