International managed cyber security services firm Bridewell Consulting has secured a “multi-million pound” investment from Growth Capital Partners (GCP) to help it scale further across Europe and ramp up business in North America and Asia.
Established in 2013, Bridewell Consulting says it has seen 75% year-on-year revenue growth since FY18. Headquartered in Reading, Berkshire, the company has supported over 100 clients in the last 12 months alone, in sectors including critical national infrastructure, financial services and central government. The company employs over 80 staff and plans to double this figure by 2022. At the beginning of this year, Bridewell hired ex-Timico and Adapt executive Martin Riley as its director of managed security services. He also joined the firm's board.
The investment deal sees the private equity firm take a minority stake in Bridewell and forms part of its wider five-year growth strategy. Scott Nicholson and Anthony Young will retain ownership of the company and its leadership as Co-CEOs, with GCP acting as a strategic partner.
Bridewell will use the capital to develop its end-to-end cyber security and managed security services, in particular the expansion of its managed detection and response (MDR) service and its 24x7 security operations centre (SOC).
“The global cyber security market is projected to reach $258bn by 2025 with the managed security services market worth $46.4 billion alone - our managed security services have grown significantly over the past two years and are anticipated to account for a third of turnover in 2021,” said Bridewell.
Richard Shaw, partner at GCP, said: “The requirement for cyber security services is set for continued fast growth, with the risks and ever-changing threat landscape becoming an increasing board level priority
“Bridewell’s relentless focus on delivering expert solutions as a trusted advisor to its clients, its extensive accreditations, investment in people and pro-active managed security services approach, means that the business is ideally placed to continue its fast growth trajectory both in the UK and overseas.”
Anthony Young, Co-CEO at Bridewell, added: “We have been on a tremendous growth journey over the past eight years and we are now one of the UK’s largest independent providers of end-to-end cyber security services.”
