Security start-up ZoneFox secures £650,000 injection

ZoneFox, the Edinburgh-based security software specialist, is eyeing further growth at home and abroad after securing a £650,000 funding boost.

ZoneFox chief executive and co-founder Jamie Graves

The start-up, based at the CodeBase technology incubator, has also won a deal with Seric Systems, the Paisley technology infrastructure business.

ZoneFox, which counts high-tech ­manufacturers, banks and games developers among its other customers, specialises in helping firms protect their business­-critical assets, data and intellectual property by monitoring and recording activity on their systems to detect possible security breaches in real time.

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Chief executive and co-founder Jamie Graves said: “We believe we now have the best product in the market to detect and respond to internal security threats in a quicker and easier way than ever before.

“A week does not pass without some large corporation admitting to significantly compromised data and the value destruction that goes with it. This trend equates to a massive market opportunity for us as we start to really scale the business and head into our next phase of growth.”

Stuart Macdonald, managing director of Seric Systems, added: “Having the right technology partners to assist our clients in reducing their risks is of the utmost importance to us.

“ZoneFox is a world-class solution, which fits extremely well into our security portfolio and will add real value to our clients.”

Investors including the Archangel and Tri Cap business angel syndicates, as well as the Scottish Investment Bank, took part in ZoneFox’s latest funding round, which closed in October. The cash injection will be used to scale up its sales and marketing function as the firm continues to expand in the UK, Europe and US.