Hat trick for Hut Six as the cyber security company scales for growth

Hut Six Security Ltd, the Newport-headquartered developer of software-based information security training products has completed a third fundraise taking total investment in excess of £1 million.

The latest round has been led by the Development Bank of Wales with their third equity investment of £200,000 being matched by a further £200,000 from Wesley Clover and the Waterloo Foundation. Hut Six will use the investment to support product development, increase marketing and expand internationally. The company is also working towards National Cyber Security Centre (NCSC) accreditation for their training.

Launched in 2017, Hut Six is an alumni of The Alacrity Foundation. The company has designed and developed a security awareness training and phishing simulation platform that enables clients to raise awareness and indicate appropriate corrective behaviour amongst IT users to combat cyber threats. By minimising the risks of human error, Hut Six supports organisations in creating a responsible, security-conscious culture.

One of the most recent initiatives at Hut Six is the creation of cyber shorts: a completely free series of six bite-sized lessons covering the essentials about phishing, passwords, using the web safely, devices and malware, social media, and scamming.

Simon Fraser, Chief Executive at Hut Six, said: “Our cyber shorts have been developed to help educate people  against the cyber threats they face in the workplace and at home. These are a resource intended for anyone and everyone looking to upskill their cyber awareness. Crafted to bring any level of user easy to implement tips for improving information security, each tutorial can be completed in 3 minutes or less - training which everyone has time for.

“It’s one example of how our growing team is building a product portfolio that provides continuous value, is automated where possible and provides a tailored experience at scale. The continued support of our early-stage investors is a reflection of their commitment to following their money and an endorsement of the progress that we are making.”  

Investment Executive Andy Morris said: “We are here to help early stage technology companies that have the potential to rapidly expand and generate new employment hence our follow-on equity investment in Hut Six. We are excited to continue the journey with our co-investors as Simon and the team further develop their solution, helping global companies with the important task of improving employee security awareness and building secure cultures.”