Sheffield’s Sitehop Raises £5m to Advance Cybersecurity Encryption

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Sitehop, a Sheffield-based cybersecurity startup, has secured £5m in funding to bolster the development of encryption tools tailored for intricate communication networks.
Established in 2021, Sitehop endeavors to tackle the challenge of cybersecurity encryption hindering the speed of communication networks. The company specializes in hardware-enforced encryption, showcasing its flagship product, SAFEblade 1100. Sitehop boasts the capability to support over 4,000 secure tunnels concurrently, achieving encryption or decryption latency of “less than 900 nanoseconds.”
Melissa Chambers, CEO of Sitehop, expressed that the new investment infusion would fuel the company’s global expansion initiatives. Sitehop plans to augment its workforce in Brazil, the US, and India, in addition to its Yorkshire headquarters. Chambers emphasized that the investment would empower Sitehop to pursue its technology roadmap, broadening the array of SAFE products to secure various data-in-motion types and developing parallel products leveraging its expertise in cryptography and programmable hardware design.
The investment drive was spearheaded by Amadeus Capital Partners and Manta Ray Ventures, with contributions from Mercia Ventures, the Northern Powerhouse Investment Fund, and several angel investors.
Nick Kingsbury, Partner at Amadeus Capital Partners, commended Sitehop’s innovative hardware-based approach to addressing a critical challenge encountered by providers of essential network infrastructure. Kingsbury emphasized that Sitehop’s data encryption technology, distinguished by its flexibility and scalability, renders it accessible to both SMEs and large enterprises, fortifying the defense against cyber criminality.
In the preceding year, Sitehop secured £1m from the Mercia-managed Northern Powerhouse Investment Fund, reflecting the escalating confidence and support garnered by the burgeoning cybersecurity startup.