Cyber security firm nets funds

A cyber security business has received a £3 million funding boost as it looks to further grow its Edinburgh operation.

Corero Network Security, which provides protection against distributed denial- ofser vice attacks, has secured the cash injection from Clydesdale and Yorkshire Bank’ s growth finance team.

Established in 2010, the business is said to have grown significantly in the last few years as a result of “significant” investment in its threat defence technology.

In 2015, the firm opened its Edinburgh office, which currently employs 20 members of staff. Part of its growth ambition is to expand its team in the Scottish capital, as well as add to its headcount elsewhere the UK.

Andrew Miller, the group’s chief financial officer, said: “This is an important time for Corero as we look to significantly accelerate both reve - nue and profit growth over the next two to three years.

“Corero continues to build on the technology market leadership of its Smart Wall product with investment to add new software features and analytics capabilities. Opening our office in Edinburgh has been a really positive experience – we are in an excellent location and have recruited an extremely talented and skilful team who are making a measurable difference to the business.”

The growth funding was delivered by Stephen Fahy, a senior director, and Us man Ali, a director, in Clydesdale and Yorkshire Bank’s growth finance team.

Fahy said: “We are proud to be working with Corero as it looks to grow its business. We are committed to supporting SMES to grow and to develop, and we look forward to working with Coreroont he next stage of their journey.”