Stockport-based cybersecurity software distributor, Distology, has secured private equity investment from NorthEdge.
The firm, which was founded in Stockport in 2014 and also operates in Europe from an office in Amsterdam, will use the investment to fuel its future growth as a specialist in cloud-based cyber-security technology.
Founder and Distology CEO, Hayley Roberts commented:
Our ambition is to be Europe’s leading value-added-distributor of cloud-based cyber security software. In order to achieve our aggressive growth plans, we needed a partner that could offer more than just a financial investment – we want guidance and support too to help us overcome the challenges that arise with rapid growth”
“Of the investment options we were presented with I felt NorthEdge were the best fit for our needs. It was clear that even through the challenges of lockdown, we were able to build a great relationship with the NorthEdge team, and I could see they understood our business and the market we operate in”.
The private investment will enable Distology to capitalise on its consistent performance in recent years; the Stockport software distributor has seen year-on-year revenue increase 75% in the past three years.
Liam May, Director at NorthEdge, a Leeds and Manchester based mid-market investor, said:
Cyber security has quickly become one of the largest high-growth markets with revenues in the sector nearly doubling between 2017 and 2020. The impact of COVID-19 has led to widespread remote working and the increasing threat of more sophisticated cyber threats are likely to drive long term demand in the sector.
“Distology has already cemented its position in the channel through its partnerships with strategic vendors and impressive client list and has an outstanding reputation in the market. We’re looking forward to working with Hayley and the business’ talented team to drive the company’s growth and expand its offering”.