Cyber security is the biggest challenge facing the digital world today, and the global market for solutions is set to grow from an estimated £50bn in 2015 to £116bn in 2020.
Crossword Cybersecurity is a technology commercialisation firm focused exclusively on the sector which is positioned to take advantage of this booming market. Crossword works with UK universities to identify promising cyber security IP that meet real world challenges, and our expert consulting team, consisting of ex-military and national security experts, engages with clients to solve their problems.
Our chairman, Sir Richard Dearlove, is a former head of MI6, and I was formerly at Goldman Sachs and Egg Bank’s chief information officer. Founded in 2014, Crossword is working with leading British institutions including the universities of Warwick, Coventry, Bristol, Surrey, South Wales and City, University of London. These relationships have already resulted in the launch of several innovative products, including Rizikon.
The impact of the incoming GDPR regulations will heighten the need for cyber risk assessment and Rizikon enables all UK firms to assess their readiness. Sophisticated Denial of Service (DDoS) attacks are causing havoc and a new variant, the “application DDoS”, is a particular challenge to defend against. Crossword’s new product NIxer, an AI/machine learning based solution, does precisely that.
In November 2016, Crossword successfully completed an equity placing and subscription on the NEX Exchange Growth Market, raising £1.4m and setting the firm up for rapid growth. I wanted Crossword to be listed to be able to raise capital as required, to show our major clients and partners that we are a professionally run, transparent growing company and to enable our investors to trade their shares. NEX Exchange has delivered on all of these promises.
Tom Ilube Chief executive of Crossword Cybersecurity
Disclaimer: This article is for information only and does not constitute a recommendation to invest. Investment in a company admitted to NEX Exchange should not only be undertaken after careful consideration, and if appropriate, consultation with an independent financial adviser.