A North East cyber security firm makes significant strides with a major investment.
- FAT32 receives £625,000, marking the first investment from the Venture Sunderland Fund.
- The firm aims to revolutionize cyber-security compliance, making it swift and cost-effective.
- Funding includes contributions from Northstar Ventures and angel investors.
- The investment supports software development and expansion of FAT32’s skilled workforce.
A North East-based cyber security firm, FAT32, has successfully secured a substantial £625,000 investment, with £350,000 sourced from the newly established Venture Sunderland Fund. Northstar Ventures spearheads this fund, assisting high-potential businesses like FAT32 in their growth endeavors.
This investment signifies a pivotal moment for FAT32, marking its role as a trailblazer in transforming cyber-security compliance. By leveraging its OneClickComply tool, FAT32 simplifies this arduous process, promising clients task completion up to 20 times faster and with potential cost reductions of up to 70%.
The cyber security market, currently valued at £11 billion, is projected to grow nearly twofold by 2029, positioning FAT32 advantageously within the industry. With a focus on automated compliance, FAT32’s platform integrates continuous monitoring with automated problem remediation, ensuring businesses remain compliant effortlessly and cost-effectively.
Founded by Connor Greig, Conor Sizeland, and David Warren, FAT32 draws on collective expertise in software engineering and cyber security. Their efforts are fortified by Kelvin Harrison as chairman and Jamie Whitcombe-Jones as an advisor. This knowledgeable team is committed to fostering growth and skilled job creation in Sunderland.
Besides Northstar Ventures’ input, the investment pool includes £200,000 from the North East Innovation Fund, backed by the European Regional Development Fund, complemented by angel investments. These resources are directed toward software advancements and an increase in FAT32’s staffing, to further bolster the cyber security cluster in the region.
Co-founder Connor Greig emphasizes FAT32’s dedication to advancing the North East’s digital landscape, expressing enthusiasm about the job opportunities and regional growth this investment will stimulate. The speedy, automated compliance FAT32 provides is essential in an evolving cyber threat landscape.
Tom O’Neill, Investment Manager at Northstar Ventures, praises the FAT32 team for their ingenuity, noting the investment’s alignment with the fund’s mission to bolster promising ventures in Sunderland. O’Neill underscores his excitement in partnering with FAT32 on their path to expansive growth.
FAT32 stands poised to significantly impact the cyber security domain, bolstered by strategic investments and an innovative approach.
