Cyan Forensics raises almost £1m in latest funding round

Published: 24 December 2018

Edinburgh-based award-winning tech company Cyan Forensics has recently closed a £900,000 investment round. We spoke to founder and chief executive, Ian Stevenson.

Your business in brief?

Cyan Forensics helps law enforcement, social media companies, and cloud providers to find and block harmful content from paedophiles and terrorists. We’re making it easier to find evidence against criminals who share and download this material, and we’ll be helping block their access to online networks.

Edinburgh is a great place to live and work, and we’ve got excellent universities here producing highly skilled graduates. Having a great team is an absolute necessity for a start-up, and being in Edinburgh makes it easier to attract the right people.

Ian Stevenson, founder and chief executive, Cyan Forensics

 

The markets we operate in are worth many billions of dollars annually and are growing at more than 12% year on year. We’re targeting an £800m a year niche where our technology has an overwhelming advantage.

I founded the company with Bruce Ramsay, who was a Police forensic analyst for the best part of 10 years before getting involved in research at Edinburgh Napier University, which spawned the idea behind our business. My background is in commercialising technology, and we spun the company out of the university in 2016. We’re based in CodeBase and we’ve now grown to 10 members of staff.

Cyan Forensics provides digital forensics software to help police forces find evidence on computers many times faster than before.

How much funding have you raised, from whom? What will this allow you to do?

We’ve raised around £1.5m total in equity investment, led by Mercia Fund Managers with additional investment from the Scottish Investment Bank and a US-based private investor. 

This money is helping us to grow our sales to law enforcement in the UK and to move into international markets, starting in Europe with Germany. We’re also developing our moderation and content blocking business.

How does being based in Edinburgh help you?

Edinburgh is a great place to live and work, and we’ve got excellent universities here producing highly skilled graduates. Having a great team is an absolute necessity for a start-up, and being in Edinburgh makes it easier to attract the right people.

We have a fabulous view of Edinburgh Castle from our office, as well as the benefits of being part of a community of like-minded companies. As our market is international, Edinburgh’s easy access to rail and air travel is a vital ingredient for us too.

What's the vision for your business?

We want to build a great business in Scotland, bringing in revenue from this global market while creating jobs and opportunities locally. We are working to make it far harder than it is today for paedophiles and terrorists to share material online, and to avoid detection once under suspicion. 

 

If you would like to find out more about how we can help you and your business establish, relocate or expand within the city region, or would simply like more information about what Edinburgh has to offer, get in touch today.

E: invest@edinburgh.gov.uk

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E: invest@edinburgh.gov.uk

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