Data Access Governance software firm Torsion Information Security has successfully closed a £1.1 million funding round co-led by Bayes Entrepreneurship Fund, Juno Capital and The FSE Group, alongside investors from several prestigious Cambridge angel networks.
Torsion will use the additional funding to roll out its automated Data Access Governance platform and significantly expand its business development, customer success, engineering, marketing and financial operations.
Enterprises the world over are faced with huge volumes of data being shared on a daily basis, through collaboration platforms such as SharePoint, Teams and Office 365. At a time when file sharing is rising exponentially and spiralling out of control, the Torsion software automatically monitors who has data access to what, why and when, controls inappropriate access, and works with business users to prevent potential breaches.
Torsion is built on business-focused intelligent automation, instead of complex manual tools for IT administrators, which makes it a highly effective and scalable solution for controlling data access in a cloud-first world.
Not only can customers keep data secure by getting control of sprawling data access and sharing, they also benefit from real-time visibility for assured compliance and reporting.
Peter Bradley, Founder and CEO of Torsion said: “We’re very excited to announce this new funding as we embark on a significant new stage of our growth plans. To receive backing from such reputable and experienced investors is a huge testament to our vision, technology and team. We strongly believe our automated business-centric approach to controlling data access and sharing is the only way that enterprises can truly control access to their data. With this funding, we are truly solving the ‘who has access to what’ problem, on a global scale.”
Linda Coyle, Investment Director of the Bayes Entrepreneurship Fund adds: “In 2020/21, cybersecurity came to the fore due to the growth in remote working and the accelerated cloud adoption of companies worldwide cause by the pandemic. As a result, staff are sharing data at a prolific rate, both inside and outside their organisations. Inappropriate access has been the root cause of many serious cyber breaches, and businesses need to invest in solutions to protect themselves. Whereas early cybersecurity solutions focussed on network infrastructure, the focus is shifting to data governance and monitoring the activity of users. Torsion is well placed to take advantage of this shift and their solution offers a straightforward and easy mechanism for users to ensure that rights granted are in line with the security policy of the company. It is their focus on the user and their emphasis on end user simplicity which makes Torsion stand out. The Bayes Entrepreneurship Fund are excited to invest in Torsion and look forward to following their success and continued growth.”
Paul Lyristis, Investment Manager at The FSE Group, added, “Torsion is a unique, powerful solution to a big unsolved problem in a massive global market. Peter and his team are very driven and are experienced corporate operators. The overall cyber sector is growing rapidly, and Torsion operates in a key area providing a solution that is crucial. We are delighted to be supporting them and look forward to watching the business grow and prosper.”
Edward Rudd, Founder Partner of Juno Capital Partners LLP concludes: “We are pleased to announce our new investment in Torsion. The team at Torsion has built a software product that solves the problem of managing data access security at scale, and we believe they have built something that will change the way organizations protect their data. Torsion already has an impressive client base and we are excited to work with the team as they scale their operations and grow their revenues.”
Visit www.torsionis.com.