Glasswall, a fast-growing enterprise cybersecurity software firm that specialises in file-based security, has secured £5 million from HSBC UK’s Growth Lending fund.
Zero-trust approach
Glasswall takes a zero-trust approach to files and is a global pioneer in Content Disarm & Reconstruction (CDR) technology.
With the support of HSBC’s strong international network, Glasswall will strengthen its position in both the UK and US public and commercial sectors, while deepening its global reach, with particular focus on the other three ‘five eyes’ intelligence alliance countries, Canada, Australia, and New Zealand.
Capitalise on growth opportunities
Glasswall is the eighth business to benefit from HSBC UK’s Growth Lending fund
Additionally, the HSBC UK funding package will enable Glasswall to continue developing its zero-trust technology and capitalise on significant growth opportunities with its customer base within the UK and the US.
Glasswall is the eighth business to benefit from HSBC UK’s Growth Lending fund.
High-growth technology scale-ups
The £250 million pot is available to support high-growth technology scale-ups with strong equity backing that are on a clear path to profitability. It provides access to finance, as well as HSBC’s full capabilities including international expertise, and helps businesses achieve their global ambitions.
Headquartered in both Devonshire Square, London, and Reston, Virginia, USA, Glasswall is aiming to continue its current growth trajectory, which saw the Company’s annual recurring revenues (ARR) increase by 170 percent in the past 18 months, as it targets profitability within the next 12-18 months.
Bolstering cyber defences
We are extremely excited to be strengthening our partnership with HSBC UK as we aim to continue our growth"
Danny Lopez, CEO at Glasswall, said, “HSBC UK’s validation of Glasswall’s growth story so far is a fantastic endorsement for us. We are extremely excited to be strengthening our partnership with HSBC UK as we aim to continue our growth rate and achieve profitability."
Danny Lopez adds, "The bank’s global reach will assist Glasswall in getting its zero-trust CDR technology into the hands of more organisations around the world, bolstering their cyber defences against an ever-increasing number of malicious threats.”
Strengthening and widening the network
Roland Emmans, Head of Technology Sector & Growth Lending at HSBC UK, added, “Glasswall has shown significant growth over the last few years, and we are delighted to be supporting the business on this exciting next stage by providing access to funding through Growth Lending, as well as the strength of HSBC UK’s wider offering and global network."
He adds, “The transaction represents the eighth deal from our Growth Lending fund, and showcases HSBC UK’s ability to support high-growth technology scale-ups throughout their entire lifecycle.”
Path to profitability
Fuse Capital supported Glasswall as its debt advisor throughout the lending process. Russell Lerman, CEO at Fuse Capital, said, “We are pleased to have represented Glasswall on this transaction. By securing £5m from HSBC UK's Growth Lending fund, Glasswall has taken a significant step towards its global expansion and path to profitability. HSBC was fantastic throughout.”
Glasswall
Founded in 2010, Glasswall provides zero-trust CDR solutions to protect customers against known and new threats. The company supplies software to organisations, including defence and security government agencies, the largest cloud service providers, and major global cybersecurity vendors.
The company’s key investor is IPGL, Lord Michael Spencer’s private investment fund.
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