LORCA’s Cyber‑Startup Boom: £153 Million in 2 Years
It’s official – our London‑based cybersecurity incubator, the London Office for Rapid Cybersecurity Advancement (LORCA), has smashed its initial goal and pulled in £153 million from investors in just two years. That’s a staggering 280 % over the £40 million benchmark set for the programme and 12 months ahead of schedule!
Why Does This Matter?
- Big slice of the pie: LORCA accounts for 76 % of all funding raised by UK cyber‑security firms in government scale‑up schemes and 69 % of every cyber investment in the entire UK since lockdown began.
- Job‑creators: 72 founders and early‑stage teams are already driving 800 new jobs within the next year.
- Revenue mills: The cohort’s businesses have generated over £26.5 million in sales during the programme’s first two years.
What LORCA Has Been Up To
Launched two years ago, LORCA partnered with Plexal, a creative coworking hub in London’s East End, the CSIT at Queen’s University Belfast, and Deloitte to offer a blend of mentorship, product design support, and a killer curriculum.
Key Providers of Capital
The funding boom stems primarily from local venture capitalists. The trio of keen investors who have pumped the most into LORCA’s startups includes IQ Capital Fund, 24Haymarket, and Octopus Ventures.
Some of the Big‑Names on the List
Among LORCA’s 72 alumni, standout teams include Privitar, a rapid‑growth champion that earned a spot as the ninth-fastest tech company in Deloitte’s UK Technology Fast 50 in 2019.
False Starts: A Pandemic‑Era Growth Story
The UK’s cyber ecosystem has never been stronger, especially during the health crisis. Research from Plexal and Beauhurst shows that cyber startups have raised a fresh £126 million since the lockdown—only one deal shy of the same period last year. Classic example of resilience!
Remember 2019’s record surge when cyber firms pulled in more than £500 million for the first time? LORCA’s recent haul hints that that record may be broken again.
Celebrating Two Years
To celebrate its second anniversary, Oliver Dowden, the UK’s Secretary of State for Digital, Culture, Media & Sport, swung by LORCA’s headquarters. He met with bright minds across the programme, emphasizing how “good cyber security forms the bedrock of our digital economy” and how LORCA’s network is “smashing investment targets” across the country.
Staunch Supporters
Beyond the investors, LORCA’s architecture includes:
- Innovations from Plexal‘s curriculum
- Cutting‑edge research from CSIT
- Consulting from Deloitte
These collaborations have helped teams scale up, refine product offerings, and break into international markets.
Quotes That Speak Volumes
- Saj Huq, Director of LORCA: “Never before has cyber‑security been of such economic and strategic national importance. Raising £153 m in just two years underscores the UK’s position as a global cyber hub.”
- Stephen Wray, Deloitte: “LORCA’s focus on market‑driven challenges means we can’t wait to support more giants in the UK cyber ecosystem.”
- Louise Cushnahan, CSIT: “Our teams have helped bring fresh, globally relevant solutions to market—producing the biggest economic and societal gains for UK research and innovation.”
In a Nutshell
What started as a modest ambition now epitomises a thriving, jobs‑rich cyber economy. LORCA remains a testament to how collective investment, mentorship, and a fight against cyber threats can combine to create an ecosystem that is both lucrative and vital for the nation. From the East End to Belfast, from startups to scale‑ups, the UK’s cyber scene is buzzing, and LORCA is at the heart of that pulse.
