After WannaCry demand lift, UK cyber security start-up raises £2.5m
Panaseer is a new UK cyber security start up that has raised £2.5m lately after the WannaCry lifting their demands. They have made their vision to develop their product and enter into the US markets so that more and more users could get the benefit of their developed product.
The founder of Panaseer, who is also chief executive of the start-up informed that his company helps other companies’ security hygiene to “an acceptable state.” The founder of panaseer is Nik Whitfield, who was a former employee of BAE Systems’ cyber security department. He founded his company Panaseer in 2014.
Whitfield told that cyber security is improving everyday at a very fast rate. Innovations have to be done so that they can cope up with the ever-increasing cyber threats. He also highlighted that doing improvements in a big corporation is one of the toughest jobs. He wanted to set up a small company in which innovation will take no time. He wants to work with companies that are wiling to go at the same pace.
He started Panaseer in Surrey basement in 2014. It consists of 30 staffs and its customers are FTSE 100 and Fortune 500 firms from London, Boston, and New York.
The Panaseer make the best use of the digital analytics techniques so that they could advise companies on their expenditure on cyber security. He raised the concern that there are so many companies that are focussed on the cure rather than preventing the cyber attacks.
Share prices took arise after the cyber attack, which affected around 150 countries. The investment was done by Palladin Capital Group and Evolution Equity Partners with a total sum of $5.6m funding.