Press Room

Covid - the best time to start a cyber company?

2 years ago

Teaser

U.K. cyber company announces five-year collaboration deal with top Indian brand to bring new A.I. driven cyber governance solution to the market.

Press Release

In April 2020, just as the lockdown was taking hold, we spotted a challenge set by Standard Chartered to solve their problem with cybersecurity regulation using artificial intelligence. We threw our hat in the ring and won out as the best proposal. Regulativ was born. With the dark skies of Covid looming, was this the right time to start a new venture?

Our founding team has decades of real-world experience delivering global platforms into tier 1 financial institutions. We have recently focused on providing regulatory and compliance solutions leveraging the latest innovations in data management and A.I. We knew we could deliver the right product.

Bootstrapping has been our primary source of financing, but this would take us only so far. To complete the product, we needed to find funding. We looked at all the options, and whilst there is plenty of money out there looking for a return, we quickly learned that finding the right people to invest with aligned values and objectives is essential. Regulativ is early in the market, so product-market validation and fit have been critical; all the signs are good. After an exhaustive search, we agreed on a partnership with Birlasoft to fund and co-develop the product. Birlasoft was India’s most admired and valuable power brand company in 2020, but the company is not well known in the U.K. The partnership with Regulativ signals Birlasoft’s intent to bring innovative propositions to its U.K. and global customers, raise its profile in the industry and be further recognised as a leader in digital transformation.

A significant wave of bankruptcies for U.K. firms looms as many government-backed business support programmes have expired. Was it wise to found a new venture in this climate?

‘Ransomware hackers now bigger cyber threat to UK than hostile states’

Lindy Cameron, chief executive of the National Cyber Security Centre — a branch of GCHQ

Losses due to cybercrime are estimated to exceed $2 Trillion in 2021. It is clear that cybersecurity is here to stay. Recent high profile cyberattacks on Colonial Pipeline, JBS, and Solar Winds have been met with a swift response from governments to further tighten cyber-regulation and demand that companies implement comprehensive cyber-governance.

“Despite the high profile headlines, too many companies are doing too little too late. Everyone thinks it will never happen to them … until it does.”

Mark Weston - CRO, Regulativ.ai

Announcing the partnership to the stock market and our appointment to the CyberTech100 on the same day caused a stir. Birlasoft’s market valuation was up £217m intraday and ended the day up over £100m, confirmation that the stock market also sees the value.