Risk Ledger, a supply chain cyber security platform, has secured £24m in Series B funding to push companies beyond conventional third-party risk management towards what it calls Active Supply Chain Security.
The round was headed by Axiom Equity, a growth equity fund specialising in B2B SaaS, with participation from Mercia Ventures, which previously backed the business at Series A.
The capital will be used to grow the firm’s UK customer base, build out AI-enabled supply chain security capabilities, and drive its entry into the American market.
According to the company, cyber attacks targeting supply chains now have consequences that stretch well past IT infrastructure, hitting profits, national economies and even lives. It argues the standard defence, third-party risk management, was designed for a far simpler era, evaluating vendors individually, in isolation, and only at a single moment in time. In reality, modern supply chains are dynamic webs of thousands of interlinked firms, where the most critical exposure is frequently buried several tiers deep within a supplier’s own supplier.
Risk Ledger takes a network-first approach. Every supplier fills out one standardised assessment and keeps it updated in real time, meaning connected organisations view a single live profile rather than issuing endless duplicate questionnaires. As the network expands, visibility improves for all participants, a model the company describes as enabling firms to Defend-as-One rather than protecting themselves in isolation.
Over 16,000 organisations are now part of the network, spanning critical industries such as financial services, insurance, critical national infrastructure and government at both central and regional level.
The new funding will bring additional organisations onto the platform and enrich the intelligence shared between them. It will also finance a fresh wave of AI tooling, drawing on network data the firm claims rivals cannot replicate, to automate manual review tasks and surface risk signals that standalone products overlook. A portion will support the move into the US, where supply chain breaches and regulatory scrutiny are both climbing.
Risk Ledger CEO and co-founder Haydn Brooks said, “When we started Risk Ledger, third-party risk was something every company managed on its own, and collaboration across supplier ecosystems within sectors was rare.
“We built the company on one conviction: organisations are stronger when they Defend-as-One, sharing intelligence and reducing risk together rather than in isolation. That conviction now connects more than 16,000 organisations. This investment lets us build that vision faster, extending collective defence to more customers, putting AI to work on the manual tasks that consume security teams, and bringing Active Supply Chain Security to the United States.”
Axiom Equity founding partner Jonathan Organ said, “Risk Ledger is creating a category rather than competing in an old one. The network it has built is hard to replicate and grows more valuable with every organisation that joins, which is exactly the kind of business we look to back. The team has earned real trust with serious customers, and the product reflects that discipline. We are pleased to lead this round as the final investment from our first fund, and to support Risk Ledger through its next stage of growth.”
Copyright © 2026 FinTech Global
