Northstar Ventures has ignited its new Venture Sunderland Fund leading a £625,000 investment round into FAT32, a company making exciting changes in the regulatory tech industry.
The words ‘compliance’ and ‘innovation’ are rarely found in the same sentence. However, FAT32 is transforming cyber-security compliance from a lengthy chore into an effortless process, with potential cost savings of up to 70%. Customers using the company’s flagship innovation OneClickComply®, can complete compliance tasks up to 20 times faster than the traditional method of calling in costly external consultants, with the cutting edge software automating the implementation of major cyber and data security protocols.
– examines the customer’s current processes against major compliance standards such as Cyber Essentials, ISO 27001 and GDPR, highlights any areas in which they are deficient and then offers a highly innovative automated implementation process to resolve any issues. It is compatible with most major software providers, including AWS, GCloud and Azure and provides a clear audit trail for third parties, helping to take the headache out of year end. FAT32 is offering customers compliance in days rather than months and in a much more cost-effective way.
The UK cyber-security market was estimated at £11bn in 2023 and is expected to almost double to £20bn by 2029, with growth being driven by increasingly sophisticated cyber attacks, alongside regulatory interventions. Cyber security is becoming a board level matter in many organisations, with the consequences of a breach or non-compliance being substantial.
The founding team of Connor Greig, Conor Sizeland and David Warren share a passion for emerging technologies and have used their collective experience in software engineering and cyber security to create a trailblazing solution. The founding team are supported by Chairman, Kelvin Harrison, former Chair of Sunderland-based Clixifix and advisor, Jamie Whitcombe-Jones (ex CISO at Allianz).
Northstar Ventures’ investment comprises £350,000 from the Venture Sunderland Fund and £200,000 from the North East Innovation Fund, supported by the European Regional Development Fund, alongside angel investors. The funds will aid development of this ground-breaking software and support the expansion of the team. The company has ambitious aims to generate high-skilled jobs in Sunderland, adding to the growth of the of the cyber security cluster in the wider region.
Connor Greig, Co-Founder, FAT32 said: “FAT32 is delighted to be the first investment from the Venture Sunderland Fund. We are truly passionate about levelling up the North East by creating skilled digital jobs in the region and are thrilled to be working with Northstar Ventures to do just that.
“Cyber security is a pressing challenge that affects us all, and keeping on top of it is increasingly difficult due to the ever-evolving threat landscape. That’s why at FAT32, we have automated cyber security compliance to make it easy and affordable for all businesses. Our platform is the first to combine continuous monitoring with automated remediation. We highlight non-compliance issues and fix them automatically, helping companies navigate their compliance journey within a click, with no cyber experience required.”
Tom O’Neill, Investment Manager, Northstar Ventures said: “We are very pleased to complete our investment in Sunderland based FAT32. This is the first investment from the Venture Sunderland Fund, which has been designed to provide funding for high-potential businesses seeking to start up or grow in the city. The FAT32 founding team is impressive and has developed a leading solution to a major problem in the cyber security sector, which many business owners will be able to empathise with. We are excited to join the company on the next stage of its journey and look forward to working with them to grow the business at scale”.