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Business & Economy

Newcastle cyber firm Melius to expand after £350,000 backing

A cybersecurity firm behind software helping SMEs foil hackers is expanding following £350,000 support.

Melius Cyber is developing its technology and taking on staff to boost sales and marketing work.

Bosses are looking to recruit five staff, to complement its existing eight-strong team, over the next six months.

The Newcastle company’s plans – as first revealed by North East Times last year – come after it was backed by the North East Venture Fund, which is supported by the European Regional Development Fund and managed by Mercia.

The firm is known for its counterintelligence software CyberSafe, which is specifically focused on protecting SMEs and can detect security breaches and ransomware attempts within one day.

Aligned to the Government-based Cyber Essentials accreditation scheme, it monitors organisations’ IT networks around the clock, testing security and protecting it from the latest threats.

Richard Brown, Melius chief executive [pictured above], said: “Cybersecurity is a growing problem for businesses, particularly with the rise in home working, and it is no longer enough to rely on off-the-shelf solutions such as spam filters and firewalls.

“Big companies regularly stress test their network, but the cost is prohibitive for smaller firms.

“CyberSafe overcomes this problem by providing a 24/7, year-round service for the price of a one-off penetration test.

“The funding will enable us to roll out the system and help safeguard many more businesses.”

Ian Wilson, Mercia fund principal, added: “CyberSafe fills a gap in the market for a product that provides security testing at a price that SMEs can afford.

“It not only helps them prevent attacks, but also to comply with recognised standards and provide reassurance for customers and suppliers.”