Cyber security firm secures private equity investment

Beech Tree Private Equity has invested in a IT security service platform, as it looks to accelerate the development of its proprietary “Offensive Operations Center” software.

CovertSwarm was founded in 2020 by Anders Reeves to provide a constant testing of its clients infrastructure.

It employs “multi-skilled ethical hackers” which use the firms proprietary Offensive Operations Center (OOC) software to spot weaknesses in the system before hackers do. CovertSwarm recently announced the launch of its OOC software, and is looking to rival costly solutions/

Beech Tree says this approach is disrupting the traditional penetration testing market, which is often narrowly scoped and only gives assurance at a given point in time.

With a ‘one click’ submission, organisations can request CovertSwarm ethical hacker testing and targeted red team attacks, enhancing security measures.

Anders Reeves, CEO at CovertSwarm said: “We have been thrilled with the growth that we have achieved since we launched in 2020 and we see this investment from Beech Tree as the natural next step in our growth journey, allowing us to scale up even faster, accelerate our development plans for our OOC platform and ultimately ensure that we remain one step ahead of the “bad actors” out there”.

Commenting on the transaction, Adam Rudd, partner at Beech Tree said: “It was clear from the first time that we met with Anders, and his business partner Luke Potter, that they were building something really special with CovertSwarm.

“The blend of human expertise from the Swarm of ethical hackers mixed with the power of the OOC software is a unique and compelling proposition in the market, which is changing the way enterprises think about cyber-attack services.

“We’re thrilled to be partnering with Anders, Luke, and the rest of the CovertSwarm team and are excited about the future plans for the business.”