Founder(s): Mark Weston
In April 2020, just as the lockdown was taking hold, we spotted a challenge set by Standard Chartered to solve their problem with cybersecurity regulation using artificial intelligence. They threw our hat in the ring and won out as the best proposal. Regulativ was born. With the dark skies of Covid looming, was this the right time to start a new venture?
Their founding team has decades of real-world experience delivering global platforms into tier 1 financial institutions. They have recently focused on providing regulatory and compliance solutions leveraging the latest innovations in data management and A.I. They knew we could deliver the right product.
Bootstrapping has been their primary source of financing, but this would take them only so far. To complete the product, they needed to find funding. They looked at all the options, and whilst there is plenty of money out there looking for a return, they quickly learned that finding the right people to invest with aligned values and objectives is essential. Regulativ is early in the market, so product-market validation and fit have been critical; all the signs are good. After an exhaustive search, they agreed on a partnership with Birlasoft to fund and co-develop the product. Birlasoft was India’s most admired and valuable power brand company in 2020, but the company is not well known in the U.K. The partnership with Regulativ signals Birlasoft’s intent to bring innovative propositions to its U.K. and global customers, raise its profile in the industry and be further recognised as a leader in digital transformation.
A significant wave of bankruptcies for U.K. firms looms as many government-backed business support programmes have expired. Was it wise to found a new venture in this climate? Losses due to cybercrime are estimated to exceed $2 Trillion in 2021. It is clear that cybersecurity is here to stay. Recent high profile cyberattacks on Colonial Pipeline, JBS, and Solar Winds have been met with a swift response from governments to further tighten cyber-regulation and demand that companies implement comprehensive cyber-governance.
Announcing the partnership to the stock market and our appointment to the CyberTech100 on the same day caused a stir. Birlasoft’s market valuation was up £217m intraday and ended the day up over £100m, confirmation that the stock market also sees the value.