Business · Companies · 18 hrs ago

Crowd Threat raises £1 million to expand global security reporting

Crowd Threat raises £1 million to expand global security reporting

Crowd Threat has raised £1 million to expand its global security intelligence platform.

Founded by former British Army intelligence operator Michael McCabe, the Newcastle-based company gathers reports from local contributors about incidents such as conflict, terrorism and social unrest.

Its approach uses people in each country, rather than relying only on analysts monitoring information remotely.

More than 200 contributors in 17 countries currently report incidents, and the company wants to grow its coverage, especially in Africa, South America and Asia.

The funding is intended to support that expansion, further product development and seven new jobs.

A second product would track community tensions and provide early warning of possible riots and violence.

The investment came from two funds, and Crowd Threat says it ultimately aims to build a network of up to 10,000 contributors.

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What people are saying

Michael McCabeCrowd Threat founder and CEO
If an explosive device went off in the morning, by the end of the day we would know all the background. I came away thinking, why can’t we tap into local networks around the world? Technology now allows us to threats on a global scale. Using local people who understand the language and culture means we can report incidents more quickly and identify threats Western analysts may miss.
via Tech.eu
Laurence TanSenior Investment Associate, PXN Ventures
In today’s rapidly changing world, we’re seeing more businesses developing technology to help combat or raise awareness of growing geopolitical risks. Crowd Threat is doing exactly this, bringing new thinking to the threat intelligence conversation and aligning with the government’s Modern Industrial Strategy, which highlights defence as a key area. We’re proud to be backing Michael and the team with NPIF II funding to help scale this very timely innovation.
via Tech.eu