The future of communications governance & UK dominates CyberTech funding in Q3

What is the future for communications governance?

FinTech Global recently sat down for an interview with RegTech firm Theta Lake to discuss what the future looks like for communications governance.

Read the full story here.

Research highlight

UK cemented its place as a leader in the European CyberTech market with a third of all deals in Q3

Key European CyberTech investment stats in Q3 2024:

? European funding dropped by 41% YoY

? UK companies cemented their place on the European CyberTech stage completing a third of all deals in the region

? Wales based PureCyber, which provide comprehensive, subscription-based cybersecurity solutions, secured the biggest UK CyberTech deal with a $6.4m funding round

In Q3 2024, the European CyberTech market demonstrated mixed dynamics in funding and deal activity.

The sector recorded 23 deals, a 15% increase compared to the 20 completed in Q3 2023.

However, CyberTech companies in Europe raised $152m during Q3 2024, marking a significant 41% decline from the $259m raised in the same period last year.

This divergence highlights a shift toward smaller deal sizes as investor caution continues to influence the sector.

The United Kingdom remained the most active CyberTech market in Europe, with companies completing nine deals (33% share) in Q3 2024, a 36% decrease from the 14 deals recorded in Q3 2023.

Italy and Finland tied for the second most active markets, each completing three deals (11% share), reflecting a new presence among the leading countries. These replaced France and Spain, which ranked among the top three in Q3 2023.

Despite the UK maintaining its leadership position, the decline in its deal volume and the entrance of new countries among the top three signal a potential shift in regional investment trends within the European CyberTech landscape.

PureCyber, a leading cybersecurity firm based in Wales, has secured the largest UK CyberTech deal of Q3 with a $6.4m investment from BGF, one of the UK and Ireland’s most prominent growth capital investors.

Established in 2016, PureCyber offers a comprehensive range of cybersecurity solutions, acting as an outsourced cyber team for businesses through its subscription-based services, including brand protection, incident response, global penetration testing, and managed Security Operations Center (SOC) services.

With a team of 37 cybersecurity specialists, PureCyber plans to leverage this funding to expand its SME client base and increase its market share among larger global enterprises, reinforcing its position as a major player in the cybersecurity industry.

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