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Deal: Harper Macleod advises Inquisitive Systems Ltd on £3.6m funding round

Harper Macleod advised cyber security Inquisitive Systems Limited (trading as Zonefox) in relation to its series A funding round of £3.6m investment from Archangels, Scottish Investment Bank and TriCap.

Hm Deal News Image

This was the largest deal to be led by Archangels. Zonefox, a spin out from Edinburgh Napier University which counts Zenith Bank and Grand Theft auto developer Rockstar Games among its clients, saw its revenue increase by 400% last year and the funding raised will help the company reach its ambitious growth and scale plans.

We have advised Zonefox since 2013 having advised on two earlier investment rounds.

We have also advised on a number of other areas such as a complex share option plan, commercial matters and customer contracts. The investment transaction was led by Paula Skinner (Partner, Corporate) with assistance from Gail Chalmers and Louise Torr (both corporate).

Zonefox was launched in 2010 by graduate Jamie Graves. The company’s software monitors and records activity on its clients’ systems in order to detect possible security breaches in real time.

Client testimonial

Jamie Graves, CEO, Inquisitive Systems

“Working with Harper Macleod was a pleasure due to the fact that they brought a great deal of prior deal experience to the table. This meant that they could take a considered outlook on some of the critical business decisions that would result from the investment, as well as providing pragmatic insights to achieve a great result. We enjoy working with an integrated firm that allow us to tap into different specialities that will enhance out business as we grow post-investment.”