Phoenix is delighted to announce it has invested to support the growth of Logiq (“the Company”), a leading UK-based cyber security specialist. This is the third investment from Phoenix’s 2022 Fund, following investments in risk analytics provider 4most and data solutions business Dufrain.

Founded by four cyber security engineers in 2018, Logiq has grown rapidly to become a leading specialist provider of cyber-related services to the UK public sector, with a particular presence in the defence sector. The Company offers two core services: cyber security assurance, strategy and system delivery, and DISX, a proprietary subscription software service that hosts a secure environment to allow information exchange between contractors and government entities.

Logiq’s market is growing at a rate of 20% per year, and its revenue has increased by a CAGR of over 60% since 2021. The business is at the forefront of developing the public sector’s long term cyber agenda, which has recently received significant funding commitments from the UK Government.

Phoenix will partner with Logiq’s founders, including CEO James Morgan, to support the Company’s growth plans. These include enhancing Logiq’s operational platform, further investment in the DISX offering, and supporting expansion into new end-markets.

James Morgan, CEO of Logiq, said:

“The growth we have achieved to date has surpassed the expectations we had when we founded the business five years ago. We are fortunate to have a fantastic team, who provide unparalleled service to our customers and who help to protect the UK’s national security. We are delighted to welcome Phoenix as our new partners, and we look forward to benefitting from their expertise as we focus on our goal of making Logiq the UK’s leading cyber security provider to the public sector.”

Tim Dunn, Partner at Phoenix, said:

“In Logiq, we have backed yet another highly successful founder-led business operating in technology-driven markets. The UK’s public sector cyber security threat is well documented, and Logiq is playing a critical role in safeguarding the UK’s national digital infrastructure. We are very excited to be partnering with the founders and their outstanding team to drive the business’ continued development.”