For complex fraud cases, it pays to have the best desktop software on hand to investigate the links between claimants, their circle of contacts and how they all use various internet enabled devices. One type of crime can often be part of a portfolio of activities, carried out by organised gangs, so car claims, trafficking, drugs and more may sometimes be linked. One way insurers can resolve cases faster is using the services of companies like Cyan Forensics in Scotland, who have just secured more capital in a fundraising round. Here’s the press info;
Cyan successfully completed a Series A investment round of just over £5 million led by Par Equity.
Lead investor Par Equity is joined in this round by existing investors Mercia, Triple Point, SIS Ventures, Scottish Enterprise and the MacLeod Family Trust. This new round of funding brings Cyan’s support to date to just over £8m and will accelerate Cyan’s ambitious global growth plan over the next two years.
Ian Stevenson, CEO of Cyan, said: “Our technology is already making a significant impact within counter terror and child sexual abuse investigations in the UK, and we’re excited to build on this momentum in mainland Europe and the US. We’ve built a great network of partners to support our ambitious growth plans, and our team will double in size during each of the next two years to support this growth.
“We’re delighted that Par is joining us as a lead investor, and that we continue to attract support from those investors that have backed us since the start. We believe globally we are at an inflection point, and that the UK is at the forefront of online safety tech and has a significant role to play in the global picture. Greater conversation, policy and integrated global change is needed to drive transformative solutions to safeguard online. Cyan is very much at the heart of this picture.”
Cyan Protect, Cyan’s ultra-fast moderation and blocking of criminal content, will also be a big focus for Cyan over the next 12 months. Based around the same powerful cutting edge technology, Cyan Protect helps social media platforms, messaging and cloud content sharing companies find and block child abuse and terrorist content, providing a vital first line of defence. The technology also enables better regulation, data sharing and uniquely it works in end-to-end encrypted messages without compromising user privacy.