News of the funding comes just as SureCloud moves on its plans for growth in the UK, as well as its plans for expansion into the US. The funding from BOOST&Co, a fast-growing alternative lender that invests in high-growth SMEs, also acts as a vote of confidence in SureCloud.
SureCloud has been operating for more than 15 years, supporting the governance, risk and compliance (GRC) market and cyber and risk advisory services of major corporate firms. The company operates across multiple sectors, including banking, manufacturing and government, implementing flexible, cloud-based solutions that focus on user experience, data aggregation and artificial intelligence that helps clients de-mystify risk, compliance and cybersecurity.
Ryan Sorby, principal at BOOST&Co, said: “SureCloud has already demonstrated 40 per cent growth per year for the last five years but, as the firm has begun to scale, it has had to invest heavily in its own growth. The team is expecting to double the size of its US operations during the next couple of years, as well as scale its UK client base, but they need growth funds to support this and our investment provides exactly that.”
SureCloud has also been recognised in three of Gartner’s Magic Quadrants and identified as a challenger within the consulting firm’s 2020 IT Risk Management and IT Vendor Risk Management quadrant reports.
SureCloud CEO, Richard Hibbert, said: “We’re thrilled that BOOST&Co is with us on this journey. We’re confident that SureCloud will have a game-changing impact on the cybersecurity, compliance and risk management landscape in the coming years, and this funding will help support our exciting plans for growth and expansion. It’s always been our goal to not just serve clients, but innovate and develop on their behalf, shaping the GRC industry as we go, and this investment will help us continue to do just that.”