We recently provided corporate advice to our client, SIS Ventures, as part of a £5m investment round in Cyan Forensics as the counterintelligence software company plans for global growth over the next two years accelerate.
SIS Ventures, Scotland’s first impact investor focusing on social and ethical investment enterprise, joined lead investor Par Equity and other existing investors to complete the investment round totalling over £5m in Cyan Forensics (investments now total £8m). Cyan is an Edinburgh-based tech start-up focused on helping law enforcement, social media, and cloud companies to identify and block harmful content from paedophiles and terrorists.
Alastair Smith, Senior Associate in our Corporate and Technology team, provided the corporate legal guidance on the investment documents to help complete this transaction. This was a multi-party deal involving the alignment of a number of investors and their respective advisors to ensure completion met the agreed schedule.
Alastair said: “It was great to complete this funding round with a real team effort from the multiple investors involved and Cyan Forensics which should hopefully allow the company to prosper”.
SIS Ventures Head, Jill Arnold, said: “As one of SIS Ventures’ first investments in mission-led businesses, we’re very happy to continue our support for Cyan and play a part in its ongoing success story.”
Ian Stevenson, Cyan Forensics CEO, 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.”