Cyber Security startup Uleska secures £500k
by Startacus Admin
Belfast-based software cyber security company Uleska this week announced that it has secured £500,000 in investment and sales, which will enable it to significantly grow product development and double its headcount.
The company has raised £325,000 in investment from a combination of institutional and private investors, including Techstart NI, Clarendon Fund Managers and Dennis 
Murphy, co-founder of software business Anaeko. Sales of £175,000 have been secured across UK and Ireland, as well as through Uleska’s new partnership with industry giant PwC.
Uleska was founded in February 2016 to address a gap in the automation of software security for internet and cloud systems. It is competing in the application security market, which is expected to grow to $9bn USD per year by 2022 according to industry experts Gartner.
Traditionally, companies building or running software struggle to perform adequate security testing, leaving holes in their systems that hackers can break into. This is partially due to the 3.5 million unfilled jobs in cyber security around the world resulting in a skill shortage.
Uleska’s products address this by automating the running of these security checks, matching them against the systems being tested, and immediately converting technical security issues into the monetary value that a breach would cost a company.
Gary Robinson, founder and CEO of Uleska, said: “A fundamental flaw in most security software is the need for manual processes. The industry average to security test code is around six months and a further two months to translate the technical issues into business risks. Uleska’s software reduces the need for skilled personnel to organise and run testing, facilitating effective automation of security testing and prioritizing the risk of those issues within hours.”
John Murray from Techstart NI added: “Uleska brings together a great team with deep domain expertise, cutting-edge technology and an exciting market opportunity in cyber security and we look forward to working closely with Gary and his team.”
Uleska is currently recruiting developers to help build on its initial success. The investment will enable the company to increase its headcount to 12 people, with expectations there will be further recruitment growth in 2019.
Congrats Gary and the Uleska team, we've been following their journey since they pitched at upSTART 2017, the annual startup pitch event at Digital DNA and bagged the Enterprise Software title at INVENT 2017, so it is great to share word on their latest success.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
The lowdown on FuturePlus, the startup that's on a mission to make sustainability accessible, achievable and affordable for all businesses.
.jpg)
John McLachlan, author and co-founder of Monkey Puzzle Training & Consultancy examines the differences between action-oriented and reflective leaders and which approach is best.
The fitness app that's not just about physical fitness; GoJoe helps employers to engage, motivate and connect their people across all pillars of wellbeing.
Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
London-based startup Deep Render tackles the internet’s data and bandwidth challenges via its innovative AI-powered file compression technology.
The lowdown on Dublin-based startup and NUI Maynooth spin-out Neuromod Devices and its innovative evidence-based bimodal neuromodulation treatment for chronic tinnitus.
.jpg)
With the clear shift towards generative AI, Richard Hayes, search director at digital marketing agency Catalyst explores what it means for SEO...
Published on: 7th December 2018
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Startup Sook Receives Investment from Tobin Capital 24th May 2023 Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
- L Marks Seeking Startups and Scaleups for Sodexo Healthcare and Seniors Accelerator 23rd May 2023 Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
- United Utilities Innovation Lab launches call-out for innovative ideas for fifth programme 18th May 2023 Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
- OneTech Spins Out from Capital Enterprise to Support Underserved Communities in Tech Across the UK 18th May 2023 Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
