Bristol-based advisers at accountancy group Smith & Williamson and law firm Thrings have advised cyber security software firm CybSafe on a £3.5m fundraising.
CybSafe, based in London’s Canary Wharf, is an award-winning cloud-based platform which raises awareness of cyber security in organisations through learning materials, risk assessments and analytics. 
CybSafe’s platform has been adopted by more than 100,000 users and 140-plus organisations, including high street banks, the Financial Conduct Authority, John Lewis, Just Eat and the Premier League.
Lead adviser on the transaction was Smith & Williamson partner and corporate finance director Iain Lownes with tax advice provided by partner Peter Ball, who heads the firm’s entrepreneurs and scale-ups team in Bristol.
Legal advice was provided by Thrings’ Bristol-based corporate partner Mike Tomlin, who supported CybSafe CEO Oz Alashe MBE and his team with the preparation and negotiation of the investment documentation, facilitating its progression through to completion.
Iain Lownes, pictured above, said: “CybSafe is a strong business which is growing fast and is at the forefront of the important work which is being done to change the way people and organisations adopt, and interact with, the crucial area of cyber security.
“The business is already a success story, but this fundraising will enable it to continue its growth by investing in its people and platform infrastructure. Smith & Williamson has a strong focus on working with technology businesses and I am delighted to work with the CybSafe team to help it towards delivering the next step of its strategy.”
Peter Ball added: “CybSafe is a great example of a successful scale up – those high-growth businesses which are moving to the next level and creating wealth, opportunity and employment along the way.
“We play an active role in supporting many of these businesses, from the start-up phase through to funding, growth, sale and life post-sale.”
Thrings has worked with CybSafe since its days as a start-up with a strong idea to today’s market-leading position. Thrings also uses platform, which has given staff the tools to side-step a host of cyber threats.
Mike Tomlin, pictured above, said: “Oz and the team have shown clear vision and are continuing to look ahead in order to ensure their product keeps up with the ever-changing cyber security landscape. It is no surprise therefore that investors have grasped the opportunity to get involved with this exceptional business.”
Oz Alashe, pictured right, said the investment from a consortium of overseas investors would enable it to bring in new technical and strategic-level talent to ensure it stayed ahead of the curve. 
“The dedication, skilled guidance and support of the banking and corporate team at Thrings and Smith & Williamson’s Corporate Finance experts was integral to the success of this strategic investment for CybSafe,” he said.
The deal is the latest for Smith & Williamson’s Bristol-based corporate finance team. It recently worked on another in the tech sector – the management buyout (MBO) at Bristol-based animation software firm Sparkol. It also advised on the recent disposal of bus operator East Yorkshire Motor Services to international transport group Go-Ahead.
Thrings’ South West banking and corporate team advised on £217m worth of lending last year and a real estate portfolio valued at more than £116m.
Recent deals have included the £75m investment by Aviva in Bath-based fibre-optic infrastructure firm TrueSpeed and the MBO of Swindon-based telecoms and IT group Excalibur Communications.
