Traced, The Oxfordshire-based Software as a Service “SaaS” company that delivers cybersecurity powered by artificial intelligence for mobile devices, has received investment from Henley Business Angels, contributing to a total funding round of £400,000.
Between 2016 and 2020, mobile cyberattacks increased by 1,400 per cent, putting businesses at risk of data breaches, ransomware, damages and fines. Businesses are faced with the choice of either spending thousands of pounds to provide employees with corporate mobile phones or allowing their employees to access sensitive company data on personal devices, which are open to cyberattacks such as viruses and phishing. Traced helps businesses go beyond just meeting regulatory compliance by actively protecting them against data breaches, without invading employees’ privacy.
Traced Control is the company’s main product, a mobile threat defence (MTD) solution that uses artificial intelligence to catch even those threats that have not been seen before. At a price of just £9-15 per device and the advantage of being free of third-party software, unlike many of their competitors, Traced already has 150,000 app downloads and more than 25,000 users.
Traced plans to use the investment to further develop Traced Control, evolving it to stay ahead of the threats it protects against. The company also aims to expand its sales and marketing strategy, targeting more than £1m sales by 2023.
Benedict Jones is co-founder and CEO of Traced. After holding positions at a number of security giants, including Intel, McAfee, and Sophos, Ben became convinced there was a need for a different kind of security company.
Matt Boddy is co-founder and CTO of Traced. Matt has worked in cybersecurity for the Ministry of Defence and Sophos and studied Software and Systems Security at the University of Oxford. He is convinced that there is a better way to write security software.
Traced is an Associate Partner of the Coalition Against Stalkerware, a global organisation made up of Anti-Virus vendors, survivor support organisations, law enforcement, and academics who aim to raise awareness of stalkerware and together, find ways to eliminate it and help survivors.