£65k funding to enhance cyber security company

A Lancashire cyber security specialist has secured £65,000 for research and development which will be used to fund projects with cutting edge technology and to expand its services to combat cyber crime.

The funding for Xyone Cyber Security will help the team of certified ethical hackers and qualified consultants expand into a new base at Sci-Tech, Daresbury. This will be in addition to its existing premises at InfoLab21 at Lancaster University and The Quays in Salford.

The funding has been provided via Bolton Business Ventures through the European Regional Development Fund and private investors.

Xyone also intends to use the funding to enhance its penetration testing services. Penetration testing is a method of evaluating computer and network security by simulating attacks on computer systems or networks using external and internal methods of attack.

With cyber security breaches costing the UK economy £27 billion a year, Xyone plans to use the funding to set up a dedicated Cyber Advisory Service (CAS) in conjunction with Security Lancaster at Lancaster University which is one of eleven cyber security centres of excellence in the UK. CAS is set to go live in early 2014 and a team of experts will offer SMEs advice on what to do in the event of a cyber attack as well as the measures to adopt to prevent against attacks.

Stephen Robinson, managing director at Xyone said: “Businesses are becoming increasingly dependent on digital processes, transactions and information and worryingly, attacks on networks and applications are growing in numbers at an exponential rate.

“But statistics show that many businesses are unaware of the security risks they face – whether through the internet or other business infrastructure - until sadly it is too late and they have been hacked.

“The £65,000 funding will go towards developing cutting edge technology such as a vulnerability scanner in conjunction with Security Lancaster. The scanner works by allowing Xyone’s certified ethical hackers to run a series of unique tests for each client, streamlining processes and eliminating human error.”

Stephen added: “In addition, we hope to further expand our network of partners and focus our work around the legal sector in particular.”

Talking about the impact cyber crime has on businesses, Stephen added: “The cost of a severe cyber-security breach is estimated between £450,000 to £850,000 for large businesses and £35,000 to £65,000 for smaller ones so it is clear the devastating damage it can have.

“In particular, businesses in sectors such as legal, insurance and finance handle and store large amounts of confidential data so it is imperative they have secure systems in place. Protecting these key information assets is essential for the sustainability and competitiveness of businesses today.”

Xyone provides a range of application and network penetration testing and consultancy services for SMEs, public sector organisations and larger corporates looking to protect their business and enhance overall security of their IT systems. The company work across sectors including legal, financial, insurance, e-commerce and IT.

Associate director for business partnership and enterprise at Security Lancaster, Daniel Prince said: “We need to make sure that businesses are protected and help the UK become more resilient to cyber attacks. Virtually all businesses communicate with their suppliers and customers online via the internet and email and large amounts of confidential data is stored on the cloud now. “With cyber attacks identified as one of the top four risks to UK national security, it is essential that our cyber infrastructure is secure. The introduction of CAS and the work carried out by ourselves and Xyone will offer businesses a route to find out more about how they can secure their networks today and how to resolve any breaches in security.”

Enjoyed this? Read more from Xyone Cyber Security Solutions

Latest news

1

Trident return to power Net Zero Carbon Conference 2025 Net Zero Conference

Trident return to power Net Zero Carbon Conference 2025

08 Apr 2025

2

50 jobs to be created as Group55 announces further growth and expansion Stephen Turner Group 55

50 jobs to be created as Group55 announces further growth and expansion

08 Apr 2025

3

New chapter opens for Sundown after strategic sale Heath Groves

New chapter opens for Sundown after strategic sale

08 Apr 2025

4

Pets Choice acquires Pettex and cat litter division Tony Raeburn at Pets Choice

Pets Choice acquires Pettex and cat litter division

07 Apr 2025

5

PWA Planning opens new office to support local and national growth Dan Hughes, Lauren Taylor, Paul Walton, Michael Coburn and Andrew Corrin

PWA Planning opens new office to support local and national growth

07 Apr 2025

Pc Prestonmacan Gif980x120 March
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200px
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

The Business Network Central & East Lancashire
LBV Hub Networking
24 Apr 2025 - 24 Apr 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

People Power: Exclusive Event Series
Stay ahead in 2025.jpg.jpg
LBV Hub Seminars
29 Apr 2025 - 29 Apr 2025

People Power: Exclusive Event Series

People's History Museum, Manchester, M3 3ER

17:00 - 21:00

Planning for the future + navigating Inheritance Tax changes
Planning for the future + navigating Inheritance Tax changes for website.png.png
LBV Hub Seminars
01 May 2025 - 01 May 2025

Planning for the future + navigating Inheritance Tax changes

Stanley House Hotel, Mellor, Blackburn, BB2 7NP, Blackburn, BB2 7NP

08:00 - 10:30

A night at the races
1.png.png
LBV Hub Dinners / Balls
02 May 2025 - 02 May 2025

A night at the races

Morecambe FC, Morecambe, LA4 4TB

19:00 - 23:59

Innovating business solutions through PhD Partnerships
30478 Skills Bootcamp open day setting.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Innovating business solutions through PhD Partnerships

University of Central Lancashire, Preston , PR1 2HE

14:30 - 15:30

Celebrating 50 years of KTP
UCLanAerialCampus.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Celebrating 50 years of KTP

University of Central Lancashire , Preston, PR1 2HE

16:00 - 18:00

Research and Knowledge Exchange Showcase
13421_research_knowledge_exchange_2025_600x300.jpg.jpg
LBV Hub Awards
07 May 2025 - 08 May 2025

Research and Knowledge Exchange Showcase

University of Central Lancashire , Preston, PR1 2HE

09:00 - 17:00

Business Support Showcase: Collaborate, Innovate, Grow
Student Centre Autumn 2022.jpg.jpg
LBV Hub Networking
08 May 2025 - 08 May 2025

Business Support Showcase: Collaborate, Innovate, Grow

University of Central Lancashire, Preston , PR1 2HE

11:00 - 13:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv121 Online Graphic
Subscribe now

Weekly news bulletin