Investment in security software start-up, PreCog
Sure Valley Ventures is pleased to announce that it has led a Seed investment round of £1 million for Polience Limited (“PreCog”), a security solution platform company that is able to provide data intelligence to combat crime, terrorism and protect vulnerable people. Sure Valley Ventures has invested £750,000 and Pires Investments plc has invested £250,000.
Governments, organisations and the owners of assets are increasingly focused on identifying parties and individuals who may represent a security threat. Security services and organisations are therefore investing heavily in solutions that can help provide them with additional intelligence to use their resources more efficiently and effectively in real time, so they can act in a more proactive and preventative way. PreCog is able to collect and analyse data to provide unique, scalable and actionable intelligence that helps its clients to combat organised crime, human trafficking and terrorism.
PreCog has participated in and been supported by the Microsoft for Startups programme and, via this programme has established a partnership with Arrow ECS, a world-leading distributor and contract manufacturer. As part of this relationship, Arrow is manufacturing the hardware components for the PreCog system.
The proceeds of this funding round will be used for product development, the further expansion of the PreCog team and for working capital purposes in order to help scale the company.
Sure Valley Ventures Managing Partner Barry Downes said: “PreCog provides our investors with exposure to a high growth segment of the technology market. We are delighted to lead this investment into PreCog which is focused on enhancing the safety of people around the world by equipping governments with real-time data. We believe that this technology is ground-breaking and that, with this investment in hand, that PreCog is well positioned for growth in the months ahead.”
James King CEO PreCog said: “Sure Valley Ventures have been incredibly supportive of PreCog and have been a pleasure to work with since our initial engagement. The PreCog team is very excited to receive this investment and we are confident that, with Sure Valley Ventures support Platform and connections, PreCog can rapidly gain traction in new markets and scale our business globally. This is a very exciting time in PreCog’s journey and we look forward to our powerful security technology playing a significant role in making the world a safer place.”