Boost for cybersecurity sector as Allica Bank and Heligan agree multi-million pound funding deal
Allica Bank and investment and advisory group Heligan have agreed a multi-million pound funding deal to support the expansion of one of Heligan’s portfolio companies, Interrupt Labs.
Interrupt Labs has seen significant growth over the last couple of years and has its sights set on further expansion in 2025. The Basingstoke cybersecurity business is a world-leading vulnerability research consultancy that works with government departments to identify vulnerabilities and weaknesses in their technical infrastructure.
The funding Interrupt Labs secured from Allica, through its primary investor Heligan, will enable the firm to almost double its headcount, supporting plans for growth into the US and the launch of new products in existing markets.
The global cybersecurity sector has been booming of late as governments and organisations respond to increasing threats posed by criminals, terror groups and foreign governments. However, due to the relative infancy of the sector, cybersecurity businesses often struggle to find a lender willing to support them with the finance they need to invest and meet these threats.
Allica and Heligan say their collaboration is a result of two businesses acknowledging the need for investment in the sector and using their combined expertise to make it a reality. Heligan, who have a broad investment portfolio that includes a number of cybersecurity businesses, says it’s critical that the sector gets the investment it deserves.
“Heligan work with a number of world-leading, Security Technology businesses, all of which undertake critical work to help protect organisations and governments from cyber threats,” Sam Lewis, director of Debt Advisory at Heligan Corporate Finance said.
“Yet many of them share the same experience when it comes to finding the finance they need to grow, which is that lenders often don’t have the right expertise to make it happen. It means many promising firms winning and fulfilling important contracts are left with few options.
“Thankfully, by working with Allica, we’ve found a partner that is able to look at each finance application individually. Jon Bennett, our business development manager, had the seniority and experience to identify the opportunity for Interrupt Labs and find a way to help them. We hope by continuing this collaboration it will give a real boost to the cybersecurity sector at a time when it sorely needs it.”
Jon commented, “we’re delighted to support Interrupt Labs with this growth finance facility. We know how hard it can be for these kinds of businesses to find finance, which is why we think it’s so important to look individually at each and every business that asks for our support
Heligan has been a fantastic partner to work with on this. They’ve been proactive and responsive in trying to find the best for their portfolio business, and place just as great a value on relationships as we do at Allica. We’re looking forward to working with their team in future”, concluded Bennett.
