Thrings – the South West law firm – and Smith & Williamson – the accountancy, investment management and tax group – have advised cybersecurity software firm CybSafe on a £3.5 million fundraising.
CybSafe (based in London’s Canary Wharf) is an award-winning cloud-based platform which raises awareness of cybersecurity within organisations through the provision of learning material, risk assessment and analytics.
Legal advice was provided by Mike Tomlin, corporate partner at Thrings, who supported CybSafe CEO Oz Alashe MBE and his team, with the preparation and negotiation of the investment documentation, facilitating its progression through to completion.
Mike said: “We have accompanied CybSafe since its days as a start-up with a strong idea, to the market leader it has become today. As users of the platform, Thrings’ staff have been given the tools to side-step a host of cyber threats.
“Oz and the team have shown clear vision and are continuing to look ahead in order to ensure their product keeps up with the ever-changing cybersecurity landscape. It is no surprise therefore that investors have grasped the opportunity to get involved with this exceptional business.”
Iain Lownes, partner and corporate finance director at Smith & Williamson, was lead adviser on the transaction while Tax advice was provided by Smith & Williamson partner Peter Ball.
Oz Alashe MBE, CEO of CybSafe, said: “With high street banks and the Financial Conduct Authority among our growing portfolio of clients, this multi-million-pound investment from a consortium of overseas investors will enable us to bring in new technical and strategic-level talent to ensure we stay ahead of the curve.”
Thrings’ South West banking and corporate team advised on £217 million worth of lending in 2017 and a real estate portfolio value in excess of £116 million.
Recent deals include working on a £75m investment by Aviva in South West telecommunications business, TrueSpeed, and the MBO of Swindon-based telecoms and IT solutions provider, Excalibur.
Pictured above: Mike Tomlin of Thrings