Sitehop, a Sheffield, UK-based company that focuses on cybersecurity and networking within the cloud and telecommunications sectors, has closed a £5 million seed funding.
SaaS Investors
Backing investors include Amadeus Capital Partners, Manta Ray Ventures, Mercia Ventures, the Northern Powerhouse Investment Fund (NPIF), and strategic angels like Rick Lazansky and Illia Polosukhin.
Sitehop Use of Funds
The company will use the funding to fuel its global expansion, including hiring sales and support staff in key markets and expanding its Yorkshire headquarters.
About Sitehop
Founded by Ben Harper and Melissa Chambers, Sitehop is a cybersecurity technology company developing and supplying FPGA hardware-enforced cybersecurity solutions for companies. The company utilizes its custom programmable hardware solutions to optimize and accelerate cloud/telco networks. Its flagship product, SAFEblade 1100, supports over 4,000 secure tunnels simultaneously with minimal latency and high data throughput. Sitehop is on a mission to address a pressing issue in today’s digital landscape: the significant slowdown of communication networks caused by current software encryption solutions.
Funding Details
Company: Sitehop, Ltd.
Raised: £5.0M
Round: Seed Round
Funding Month: February 2024
Investors: Amadeus Capital Partners, Manta Ray Ventures, Mercia Ventures, the Northern Powerhouse Investment Fund (NPIF), Rick Lazansky and Illia Polosukhin
Company Website: https://www.sitehop.co.uk/
Software Category: Cybersecurity
Source: https://fintech.global/2024/02/28/uk-based-sitehop-secures-5m-seed-funding-to-revolutionise-cybersecurity/