£24m · Series B · Cybersecurity · London, UK
Risk Ledger has raised a £24m Series B led by Axiom Equity, with returning investor Mercia Ventures participating. The company announcement says the funding will expand its UK customer network, develop AI-enabled supply-chain security tools and support expansion in the United States.
A shared profile replaces repeated questionnaires
Risk Ledger applies a network model to third-party cyber risk. Each supplier completes and maintains one standardised security assessment, then shares that current profile with connected customers instead of answering a separate questionnaire for every buyer. Customers can use those connections to map dependencies beyond their direct vendors and see where several supply chains rely on the same underlying organisation.
The commercial mechanism is a data network rather than a standalone assessment workflow. A new supplier profile can be useful to more than one customer, while each additional connection adds context about shared dependencies and concentration risk. Risk Ledger said more than 16,000 organisations were on the network when it announced the round, spanning financial services, insurance, critical national infrastructure and government.
AI depends on the network staying trusted
The company plans to use AI to automate manual review work and surface risk signals across its network data. That could help security teams move from checking one supplier at a time to identifying patterns across connected organisations, including risks that sit several tiers below a direct vendor. The same approach raises a demanding execution test: the output is only as useful as the assessments remain current, comparable and trusted by both suppliers and buyers.
US expansion adds another test. Risk Ledger must translate a collaborative model built in the UK into a market with different procurement processes, regulatory expectations and incumbent security tools. The Series B funds customer acquisition and product development together; evidence that US organisations contribute and reuse profiles, rather than treating the platform as another one-way questionnaire, will show whether the network advantage travels.
Sources checked:
Risk Ledger funding announcement · Risk Ledger platform · Risk Ledger about · Risk Ledger contact · Tech.eu Funding Explorer
