Durham-based security and intelligence platform Intelligence Fusion has secured £600,000 funding from private equity firm Maven Capital Partners.
The funding has been provided by the Finance Durham Fund, established by Durham County Council and existing investors.
The follow-on investment will be used to make “significant enhancements” in its technology, as well as creating 10 new jobs within its sales, marketing and intelligence teams.
Intelligence Fusion delivers enhanced threat intelligence and situational awareness around the globe to help protect people, assets and reputation. The “military grade” security and intelligence information can be displayed on an online platform or integrated into the client’s own systems.
The business was founded by CEO Michael McCabe (pictured), a former British Army intelligence operator. Its chairman is former Microsoft director Robert Hayes.
Michael Dickens, Investment Manager of Maven, said: “We’re delighted to take part in this funding round as Intelligence Fusion invests in its team to meet growing demand for its product. Michael is hugely knowledgeable and has demonstrated that there’s a real and growing need for the technology the business has developed across a wide range of business sectors.”