Cytix, a Manchester-based software change risk platform, has completed a $7m Series A funding round as it looks to accelerate its response to the risks created by fast-moving, AI-assisted software development.
The round was led by Northern Gritstone, a UK venture capital and investment firm that backs science and technology startups across the North of England, with existing backers Auriga Cyber Ventures and NPIF II – PXN Equity Finance, managed by PXN Ventures as part of the Northern Powerhouse Investment Fund II, also taking part.
The capital will be put towards scaling Cytix’s newly launched change risk platform, a tool built to answer the questions thrown up by constant software change: whether a given update should concern security teams, what level of risk it carries, and what response is proportionate.
The platform tracks every software change or update a business makes, assesses and confirms the associated risk, and produces the evidence needed to explain to regulators how that risk was managed.
It sits between a customer’s software development lifecycle, where change originates, and the risk, security and compliance functions that must account for it, acting as a single control point covering detection, decision-making, validation and evidence.
Cytix will use the new funding to expand into enterprise and regulated sectors, where governing software change is a compliance requirement rather than a choice. The platform can be accessed directly through Cytix or via managed service partnerships with NCC Group and KPMG.
Founded to give security, engineering and risk teams a shared view of software change, Cytix describes itself as the security decision layer for organisations where development never stops.
Cytix Co-Founder Ben Armstrong said, “AI-assisted development means change now happens at machine speed. Meanwhile, very few security leaders have control over, or understanding of, those changes from a risk perspective. Right now, existing tools can tell you what vulnerabilities you have, but can’t tell you about the risk. We launched Cytix’ change risk management platform to get control of that risk.”
Northern Gritstone CEO Duncan Johnson said, “The explosion of AI-assisted software development has led to a race to ensure software implementation remains secure. Cytix’s platform aims to help enterprises take a realistic approach, recognising where change carries the most risk whilst allowing businesses to innovate. Northern Gritstone is proud to support another ambitious Manchester-based business in an exciting phase of its growth.”
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