A growing cyber security business is launching a new recruitment after sealing investment to continue its expansion.
Earlier this year Leeds-based Precursor Technology Group launched its new secure operations centre in Newcastle – which is open around the clock 365 days of the year – creating 10 initial jobs. The company, established six years ago, provides solutions to help businesses stay secure, with its 24-hour managed defence and response service offering cloud security, continuous security testing, backup and restore solutions, compliance services, incident response and penetration testing.
Now Precursor, which has its Tyneside base at Portland House, has announced a six-figure investment from the North East Fund, after working with regional fund management firm NEL Fund Managers to bring in the funding. The business will use the funds to continue to attract the expertise needed to meet growing client demand.
A further eight new jobs are expected to be created by the end of the year, taking the total team to 18 people, while the business is also using the investment to introduce a number of detection and monitoring systems to further boost its capabilities. The Security Operations Centre based in Newcastle has already gained certification from CREST (Council of registered Ethical Security Testers), the Ƶ’s leading cyber security accreditation body.
The Precursor management team was introduced to NEL Fund Managers by its chairman, North East entrepreneur and tech investor Neil Stephenson, who is also chairman of the group. He and his business partner Stuart Bramley contributed to the funding round and are actively supporting the business.
Scott Cardow, CEO at Precursor Technology Group, said: “The talent pool available in the North East was one of the drivers in choosing Newcastle as the location for our second base, and we’re extremely pleased with the progress we’ve made so far in building our expert team here.
“The importance of taking a proactive approach to managing cyber threats, and the potential issues of not doing so, are becoming ever more clearly understood by businesses of all sizes. Having a 24/7 monitoring system in place gives businesses peace of mind that, no matter what time of day a cyber attack may occur, our team is always there to act on it and keep their systems safe.
“NEL’s longstanding reputation in the North East and the flexible investment options it offered made working with them the right choice for us at this point, and we’re ready to move into the next phase of our North East expansion.”
Jane Siddle, senior investment executive at NEL Fund Managers, added: “Precursor has made a strong commitment to the North East that is resulting in significant job creation and investment here, and we’re very pleased to be part of their continuing success story.”
