Cytix Closes £1.6M in Seed Funding
In a move that highlights the rising demand for innovative cybersecurity solutions, Manchester-based tech firm Cytix has successfully secured £1.6m in a new funding round.
The investment, co-led by NPIF II – Praetura Equity Finance, will allow Cytix to double its client base and scale its product offerings, particularly targeting sectors like banking, financial services, and fast-growing software businesses.
Founded in 2022, Cytix is disrupting traditional penetration testing methods. Instead of waiting for annual security reviews, Cytix’s real-time approach identifies vulnerabilities during the software development process, preventing issues from escalating unnoticed.
This proactive approach addresses a critical shortfall in many automated testing systems, which often miss up to 20% of vulnerabilities.
Ben Armstrong, co-founder and CEO at Cytix said in a press release:
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
As cybersecurity threats grow more sophisticated, businesses are eager to strengthen their defenses. Cytix’s innovative approach has attracted clients across various sectors, including BNVK, Protas, and Cambridge University Press & Assessment.
With the new funding, Cytix aims to further innovate and address vulnerabilities before they pose real threats.
The NPIF II fund, which supports businesses in Northern England, continues to drive growth by backing ambitious companies like Cytix that are shaping the future of tech defense.
- Given the increasing number of cyberattacks on both small businesses and multinational corporations, this funding comes at a crucial time.
And with a nod to the rapid pace of cybersecurity development, it’s clear: Cytix isn’t waiting for a breach to take action—because, as we all know, prevention beats scrambling for patches.
Let’s hope they don’t have to fend off hackers with a sword, though that might make for a more entertaining tech story!
