Cybersecurity firm Osirium Technologies confirms AIM fundraising ahead of IPO

Cyber-security specialist Osirium Technologies has agreed a £6m fundraising ahead of a flotation on AIM on Friday.

Osirium, which was co-founded by MIMEsweeper's David Guyatt and is chaired by ex-RSA Insurance boss Simon Lee, is being brought to market by broker and nominated adviser Panmure Gordon and will have a market value of close to £16.2m on admission.

The Reading-based company specialises in limiting the risks and protecting critical IT assets, infrastructures and devices by preventing targeted cyber-attacks from directly accessing 'privileged accounts', those within organisation that have top-level permissions compared to the average worker.

Osirium, which has been backed by venture capital firms Chord Capital and Harwell Capital, and has created products that combine the latest generation of cyber-security and automation technology to create what they say is the world’s first "built-for-purpose, privileged protection and task automation solution for the hybrid-cloud world".

This removes unnecessary access and powers of privileged account users, deterring legitimate these users from abusing their roles and containing the effects of a breach if one does happen.

New investors joining the registry on admission include Octopus Investments, Henderson, Hargreaves Hale and Katie Potts' Herald Investments.