Member News
A fast-growing cyber security specialist has received a six-figure investment from NPIF II – NEL Debt Fund, managed by NEL Fund Managers as part of the Northern Powerhouse Investment Fund II (NPIF II), to fuel its next phase of growth.
Precursor Technology Group, with offices in Leeds, Newcastle, Edinburgh and London, is one of the UK’s leading Cyber Security specialists and offers a full range of services to help businesses stay secure, including penetration testing, a 24/7 managed Security Operations Centre, and compliance certification.
This is NEL’s second investment in the company and will be used to facilitate Precursors’ further expansion into new geographical markets whilst creating 2 new jobs in Newcastle. The investment will also accelerate further releases of its new AI powered Cyber Threat Intelligence platform, Precursor Intelligence.
Precursor Intelligence gives organisations of every size access to threat intelligence that was previously the preserve of enterprise security teams. The platform uses AI to continuously collect, correlate and analyse signals from over 160 countries, transforming vast volumes of raw global threat data into clear, business-specific intelligence. Clients receive a concise view of the threats that actually matter to them, what's targeting their sector, their technology stack, and their supply chain alongside a plain-language articulation of the cyber risk their business faces. By combining Precursor's expert human analysis with AI-driven collection and enrichment, Precursor Intelligence turns the noise of the global threat landscape into decisions a board can act on.
Founded in 2018, Precursor Technology Group works with a wide range of public and private sector organisations. and is certified by the UK’s leading cyber security accreditation body, the Council of registered Ethical Security Testers (CREST).
The Security Operations Centre, which was launched in Newcastle in 2024, also holds CREST certification, positioning them in an elite group of organisations worldwide who are certified at that level.
Scott Cardow, CEO at Precursor Technology Group, says: “Precursor has grown rapidly over the last few years, and now in the age of AI, we are positioned at the forefront of its use in the Cyber Security sector.
“This is now the second time we have taken investment from NEL. This speaks to the ease of the process, and the fact that they are genuinely interested in seeing businesses grow. It’s fantastic to have them as a true partner as we scale.”
Michael Williams, Investment Executive at NEL, led on the investment. He adds: “The Precursor team demonstrate exceptional knowledge in their field and possess a thorough understanding of the market they operate in. Recent high-profile incidents have highlighted the increasing importance of robust cyber security measures for businesses, and Precursor’s comprehensive suite of services directly addresses these challenges.
This is Precursor’s second round of investment which reinforces our continued commitment to supporting existing investees throughout their lifecycle, highlighting the value of a close, long term funding partnership and positions Precursor to capitalise on favourable market conditions.
“It was a pleasure to work with the team and provide investment to ensure the timely rollout of ‘Precursor Intelligence’. I’m looking forward to continuing our relationship and seeing what the business does next.”
Sarah Newbould, Senior Investment Manager at the British Business Bank said: “We’re proud to be supporting businesses through the Northern Powerhouse Investment Fund II that are bringing new technological innovations to market and supporting the Government’s Industrial Strategy. With a new AI Growth Zone in the North East, businesses like Precursor Technology Group are driving innovation in cyber security and AI, while creating highly-skilled jobs that are supporting regional economic growth.”
Operated by British Business Bank, the £660m Northern Powerhouse Investment Fund II covers the entire North and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for Northern smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
