The British Business Bank has announced significant equity finance from the £130m Investment Fund for Wales, with a £1m investment by appointed fund managers Foresight Group into gamified cyber security learning platform SudoCyber.
The investment is the first from the fund to be allocated in mid Wales and comes just over a year since the Investment Fund for Wales was launched in November 2023, by the UK government-backed British Business Bank, to boost the supply of early-stage finance to small and medium-sized businesses across Wales.
SudoCyber founders Jason Davies, Marc Del-Valle and John Davies have all served in the Armed Forces and this recent investment bolsters growth plans for their gamified training business, which is used by the military, police, academia and industry.
Established three years ago, Brecon based SudoCyber is a growing online training brand. The company began by training military personnel and has expanded to train Cyber Crime Police Officers.
Last year the company won a three-year contract to train Cyber Crime Police Officers across all UK forces and the UK’s ten Regional Organised Crime Units (ROCU.) The firm also services most Wales-based universities, including Wrexham University, University of South Wales and Cardiff University.
This is SudoCyber’s first investment round and will enable the 11-strong team to expand and recruit to further develop services, build the sales and marketing team, as well as expand internationally.
As part of Foresight’s investment, the SudoCyber team will be supported by Geraint McGrath, Senior Investment Manager at Foresight, who has been appointed to the board.
A military background has been crucial to the team’s success. Marc Del-Valle, Chief Executive Officer of SudoCyber, has more than 20 years of experience creating and delivering bespoke tactical and strategic communication instruction as part of his role within the British Army.
Marc Del-Valle, Chief Executive Officer of SudoCyber, said: “With the ever-evolving landscape of cyber threats, it is essential that organisations maintain a knowledge of cutting-edge cybersecurity. We have equipped soldiers with the necessary skills to counter nation-state threats and this previous experience, insight and expertise has contributed to our success. From very early conversations with Foresight, we realised that we were aligned in driving the issue of cyber security forward.”
SudoCyber CTO and Co-founder of Cyber Wales Jason Davies, said: “We’re excited at the prospect this equity investment presents. We have ambitions to further develop the gamified elements of our learning platform, and to expand our client base in the UK and internationally. This includes reaching out to more universities where lecturers in cyber security appreciate being able to outsource some modules to benefit from our expertise.”
Bethan Bannister, Senior Investment Manager, Nations and Regions Investment Funds at the British Business Bank, said: “The Investment Fund for Wales was established to provide the financial backing that innovative and ambitious companies like SudoCyber so often need, and we are particularly pleased to support their growth plans as they continue to scale. The SudoCyber team is expert within this specialist and increasingly vital sector, and they have established an impressive roster of clients. We look forward to tracking their success following this significant investment.”
Geraint McGrath, Senior Investment Manager at Foresight said: “We are very pleased to support SudoCyber with this significant £1 million investment, marking our first investment in mid Wales and underscoring our commitment to supporting the growth of dynamic Welsh businesses. With this investment, SudoCyber is poised to enhance its capabilities, expand its team, and broaden its market reach. We look forward to partnering with Jason, Marc, and John on their exciting growth journey.”
