Coffin Mew has advised global cyber security firm MWR InfoSecurity on a second round investment from the Environmental Technologies Fund. MWR continues its strong growth and expansion, including the opening of a New York office in January this year.
Speaking about how the investment will benefit MWR, its CEO, Ian Shaw, explains, “With this round of funding we can not only continue our global expansion, but also our investment in Countercept, the fast growing enterprise attack detection service. In a rapidly changing technology landscape, innovation is essential. Our ambition to push boundaries not only sets us apart and keeps us motivated, but ensures our technology and services remain relevant.”
Ian continues, “Understanding not only how businesses are attacked and can breached, gives us insight to the hacker’s mindset, so security defences can be improved to thwart their attacks. We’re delighted that Environmental Technologies Fund continues to recognise MWR’s strong growth potential, and its willingness to support our work through this investment.”
Rob Genieser, partner at Environmental Technologies Fund, said: “We are very excited to see the strong progress of MWR, which has grown to be a global leader since our initial investment. We are particularly encouraged by their efforts to build out solutions that address the needs of the green economy, securing vital assets in electricity generation, storage and distribution, mass transit and connected cars. In addition MWR continues to provide exceptional value to its core customers in key areas such as finance and telecoms.”
Fabrice Bienfait, partner at Environmental Technologies Fund, commented. “Cyber security is increasingly on the minds of senior, C-level executives, and MWR continues to strengthen its relationships with leading customers. In particular, the Company’s newly-launched managed service, Countercept, has been a great success, combining human intelligence with cutting-edge software to properly detect and respond to cyber attacks. This approach has proven incredibly effective on the client networks it has been deployed on, leading to strong demand from other enterprises who wish to benefit from the assurance and reduction in cyber risk that the service provides.”
Today, MWR services its global client base from seven offices in five countries – UK, Singapore, US, South Africa and UAE. In July 2015 it launched Countercept – a fully managed attack detection service, which has since experienced exceptional growth securing new clients both in the UK and Singapore. The company continues to invest heavily in its research and development, which has seen MWR able to further extend its APT (Advanced Persistent Threat) detection with new capabilities, and was confirmed one of 15 new members added to Tech City UK’s Future Fifty programme at the end of last year.
The team at Coffin Mew was led by Corporate Partner, Nick Gross, and Senior Associate Hayley Bevis.
Nick Gross said of the transaction:
It was a pleasure to work with Ian and his team once again, having worked with MWR since 2006. The company’s continued growth in this increasingly prominent sector is a testament to its focus and qualities, and the potential and aspirations of the business are recognised by this further investment.
Chairman of Board of MWR, Peter Webber, said in relation to Coffin Mew’s services:
Nick Gross and his team at Coffin Mew again ensured that this transaction went through smoothly and professionally with the minimum impact possible on the time of senior management, and thus, on the business. We look forward to continuing to work with Coffin Mew.
Howard Palmer and Simon Leslie of Taylor Wessing provided legal advice to ETF.
MWR raised first round funding from Environmental Technologies Fund in June 2014, when it was also advised by Coffin Mew.