With privacy and cyber security topping the priority list for public and private sector organisations alike, and with looming GDPR obligations at the forefront of the digital conscience, it should come as no surprise that one early industry success story was established at Innovation Warehouse.
Digital Shadows “monitors and manages an organisation’s digital risk, providing relevant threat intelligence across the widest range of data sources within the open, deep, and dark web to protect their brand, and reputation.”
The company’s USP is to ensure the security of companies expanding their digital footprint. With advanced analytics and big-data technology, it aims to keep companies’ security and reputation intact when interacting with social media, cloud services and mobile devices.
Digital Shadows was founded by Alastair Paterson in 2011 as a two-man IT security start-up and moved to the Innovation Warehouse space shortly after. By 2016, investors had backed the company with £15 million, helping it expand into the US and employ over 80 people worldwide. It is now one of the dominant players in the digital risk space.
Digital Shadows aim to target larger organisations, but smaller organisations are also potential clients because they lack the relevant staff to handle rising security threats. As the company has grown, its focus has fallen primarily on the financial services, healthcare and pharmaceutical, technology, retail and legal sectors.
Before moving into Innovation Warehouse, Digital Shadows were working out of Paterson’s kitchen. He says they chose Innovation Warehouse because it was cost-effective and because of the free meeting rooms (an expensive annoyance in many other coworking spaces).
As a B2B business with banking clientele, Paterson notes the value of having a professional front of office. He also points out that, by being based in Innovation Warehouse, he was able to get introductions through the directors that led to large clients – namely Deloitte and Swift.
During their residency at Innovation Warehouse, Digital Shadows also secured angel investment and won two Technology Strategy Board grants.
Paterson describes the Innovation Warehouse as a “great place to launch a company from” and believes that he “wouldn’t have been as successful without it”.