Innovation Warehouse resident Torsion Information Security has raised £350,000 pre-seed (EIS) following a successful funding round, enabling the tech startup to expand marketing and sales activities and achieve initial product-market fit in 12 months.
Innovation Warehouse has been working closely with Torsion since their graduation from the CyLon cyber security accelerator programme, facilitating mentorship and early investment from the wider Innovation Warehouse community, and now substantial investment from prominent VC firm, Boundary Capital.
Innovation Warehouse founder Ami Shpiro said: “Torsion’s deeply experienced team has built an impressive and strongly differentiated product. We were able to offer incremental investment support through a number of stages, achieving a sensible trade off between validation, risk, and valuation.
“Their marketing and lead-generation is now yielding a growing pipeline, and their partners are responding well in all their target markets. As real innovators in their space, we’re looking forward to being a part of the next chapter in Torsion’s growth journey.”
Torsion is an artificial intelligence (AI) company that prevents insider security breaches and simplifies compliance for mid-market enterprises, by precisely controlling and validating access to information.
The team is led by Founder and CEO Peter Bradley (former 13-year consultant at Deloitte, Content & Code), CTO Tobias West (former ten-year consultant at SCC, CompareTheMarket) and Chairman James Stevenson (former VP Sales & Marketing with Citrix and HP for over 20 years).
“Completing this investment round marks the beginning of a new phase for Torsion. We’re kicking off our plans for ramping up our marketing and sales operations, expanding our innovative solution and growing our impact on the market,” said Bradley.
“Our customers already love what we’re doing, and we’re excited to put this funding to work, to reach a whole new group of new customers in 2019 and beyond.”
Severe security and compliance challenges arise when staff have inappropriate access to data. Around 70% of employees have inappropriate access to sensitive information, which is how many catastrophic security breaches get started.
Torsion securely connects to customers’ data storage systems, and using AI, constantly determines who needs access to what information, and identifies and proactively prevents inappropriate access.
Torsion executes in a market segment worth over $2.2 billion (2017), with an expected growth rate of over 20% per year. Gartner projects segment demand will grow from 5% today to 40% of large companies by 2020.