OnSecurity, a UK-based provider of IT security services, has announced a £5.5m growth investment from Gresham House Ventures.
The cybersecurity company, specialising in penetration testing, received its first round of equity investment since its launch in 2018. The investment will support OnSecurity’s rapid growth plans, focusing on both expansion and increased R&D for its pentesting platform.
OnSecurity, based in Bristol, aims to become the world’s leading pentest engagement platform. The company currently serves almost 300 customers and has completed over 5,000 pentests to date. With its growing client base, OnSecurity plans to double its headcount from 35 to 70 employees in the coming years to support its next growth stage.
The firm has been bootstrapped and profitable to date, and the new investment from Gresham House Ventures will help accelerate its growth. OnSecurity will use the funds to enhance its platform and expand its market presence.
Conor O’Neill, co-founder and CEO at OnSecurity, said, “With no funding, we’ve grown a multi-million turnover business, with almost 300 customers, and we’ve developed a truly powerful piece of technology in the OnSecurity platform, which makes booking and managing pentests as simple as possible.
“However, we thought the time was right to really accelerate our growth by taking a funding round – and from our first conversations with Ben and the team at Gresham House Ventures, they were our preferred investors.
“Every conversation we have with them is of high value, and they’re also a really nice bunch of people to work with, which is very important to us. I’m excited to go on this journey with them over the next few years as we grow into one of the dominant players in the pentest market”.
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