OnSecurity, a UK-based provider of IT security services has announced that Gresham House Ventures has made a growth investment of £5.5M.
OnSecurity, a cybersecurity company that specialises in Penetration Testing, is receiving its first round of equity investment since launching in 2018. The firm, which has been bootstrapped and profitable to date, will use the investment from Gresham House Ventures to accelerate growth more quickly, focusing particularly on growth as well as increasing its R&D spend.
OnSecurity, which intends to become the world's leading pentest engagement platform, based in Bristol, now boasts almost 300 customers and over 5,000 pentests completed to date. With the company’s growing client base, OnSecurity also plans to expand its headcount from 35 to 70 employees over the next few years to support its next stage of growth.
Conor O'Neill, Co-Founder & CEO at OnSecurity, said:
“I'm super proud of what the OnSecurity team has achieved as a bootstrapped business to date.
“With no funding, we've grown a multi-million turnover business, with almost 300 customers, and we've developed a truly powerful piece of technology in the OnSecurity platform, which makes booking and managing pentests as simple as possible.
“However, we thought the time was right to really accelerate our growth by taking a funding round - and from our first conversations with Ben and the team at Gresham House Ventures, they were our preferred investors.
“Every conversation we have with them is of high value, and they're also a really nice bunch of people to work with, which is very important to us. I'm excited to go on this journey with them over the next few years as we grow into one of the dominant players in the pentest market”.
Steve Carle, GHV Operating Partner at Gresham House Ventures, said:
“OnSecurity has built a robust and differentiated platform offering in a market that has historically been plagued with manual processes and poor customer experience.
“We believe the business is well-placed to expand its client base further over the coming years and support businesses and organisations worldwide in the face of new cybersecurity challenges. We look forward to working closely with Conor, Grace and the OnSecurity team over the coming years to bring OnSecurity’s innovative solutions to a wider market.”
For more information about OnSecurity, please visit: https://www.onsecurity.io/penetration-testing/
