Founded in 2016 by CEO Damon Rands, PureCyber provides managed cyber security solutions, acting as an outsourced provider for businesses looking to optimise their protection against attacks. The unique suite of subscription services ranges from brand protection, incident response, global penetration testing and fully managed SOC services.
Today, PureCyber has a team of 37 cyber security specialists and has been recognised as the ‘Most Innovative Cyber Security Company in the UK’ and ‘Best International Cyber Consultancy Firm in the UK’.
Following the investment, PureCyber is looking to become a dominant force in the cyber industry through the continued expansion of its client base across the SME market as well as growing its market share among larger, global enterprises.
The Lexington Team of Thomas Edwards, Jade Burgess and Ioan Brigden worked closely with Damon Rands and the wider Management Team to initiate, negotiate and structure the transaction.
Thomas Edwards, Director said “We are delighted to have acted for PureCyber on this important transaction. The business is a market leader in the sector and is an example of a high growth, Welsh Technology business offering a dynamic solution to its customers. The investment from BGF will allow the business to scale quickly by enhancing its service offering reaching a broader customer base. Lexington is excited to see the next stage of growth of the business, led by Damon with support and guidance from the BGF and the wider team”
Damon Rands, CEO PureCyber said “Anyone that has been through the investment process knows that it can be a testing time, when the teams around you play a crucial role in a successful outcome. The experience and support we have had from Thomas Edwards and the team at Lexington has been superb. The investment marks a pivotal moment for PureCyber, enabling us to enhance our service offerings, reach a broader audience, and continue our mission of providing best-in-class cybersecurity solutions. We are excited about the opportunities ahead and remain committed to protecting businesses from the ever-evolving landscape of cyber threats and thank the team at Lexington for all they have done to support us on this journey.”
The deal was led for BGF by Hannah Waters and Edwin Davies, investors in BGF’s Wales and South West team.
Commenting on the deal, Hannah Waters, Investor at BGF, said: “PureCyber represents an exciting opportunity to back a high-growth and high-profile business that is operating in an attractive part of the cyber market. We are proud to be investing in an ambitious team with a clear vision for the future and look forward to adding another dynamic technology business that is flying the flag for Welsh enterprise to our portfolio.”
Ben Marnham, a highly experienced former tech CEO and Chair has joined as NXC and comments ‘PureCyber has excellent growth potential: the market is expanding & its track record suggests that the culture, proposition & delivery are all on point. I am looking forward to joining the board and working alongside BGF, Damon and the wider PureCyber team.’
This transaction further demonstrates Lexington’s deep knowledge of the IT and Technology sector, following on from previous deals including DevOps Group and RedCortex. If you’re thinking about a transaction in the sector then please get in touch.
Acuity Legal provided legal advice to the Shareholders and the Company, while BGF was advised by Capital Law.