Glasswall, a cyber security technology company based in the UK has secured £18 million equity capital on 30th November 2020. The additional equity capital round was led by the founder of Icap, Michael Spencer and included participation from the chairman of Ocado, Lord Rose, the founder of IHIS Markit; Lance Uggla, Andy Bell and Stuart Rose.
The capital will be used in fueling the expansion of their cybersecurity business. The UK based company secures organizations from file based cyber threats and are specialized in the content, disarm and reconstruction or the CDR technology. The deal will make the investment firm of Lord Spencer, IGPL as 44 per cent shareholder of the shares. His investment firm also backed Glasswall in 2018.
The CEO of Glasswall, Danny Lopez said “We are very pleased for this successful fundraise, the valued and persistent support shown for our organization by IPGL and Michael Spencer and the enthusiasm of our recent investors. This fund will help us to focus on an exciting and ambitious phase for the growth of our organization. Cyber threats are continuously surging as we all are shifting to cloud based systems. Glasswall is passionate in our resolution to protect companies from any prevailing file based threats. We strongly believe that our technology has the potential to make the virtual world secure. And we are also excited that we now have an opportunity to take our vision and technology to a wider audience.”
The d-FIRST technology
The proprietary technology of Glasswall, d-FIRST is deployed and authenticated by intelligence agencies across the globe. Their methodology creates a safe and visually identical file that mitigates the risk of malicious files. The technology works in three steps, Deep File Inspection, Remediation and Sanitisation. The Deep file inspection inspects the three distinctive layers of the file by reading it in memory. Remediation is for repairing the structure of a document with the specification set by the developer. Sanitisation removes Active Content that mitigates the risks imposed by useless functional features present in the file. It works efficiently well with Microsoft Office (both Legacy and 2007+), PDF and images.
As the organization says, their CDR technology is in use by defence space, intelligence and government and is growing their reach in other sectors like the pharmacy, healthcare, professional and financial services. They are expecting a turnover of £4.5 million this year. They aim at making the world a safer place by delivering cybersecurity solutions.
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