Risk Ledger, a London-based supply chain security firm, has raised £24 million (about $32.3 million) in a Series B round, bringing its total funding to £33.8 million (about $45 million).
Axiom Equity led the round, with continued backing from existing investor Mercia Ventures.
What Risk Ledger Does
Founded in 2018, Risk Ledger runs a network-first platform aimed at third-party cyber risk. Instead of each customer separately vetting its own suppliers, organizations and their suppliers connect through a shared network: every supplier completes one standardized assessment and keeps it updated in real time, and any connected organization can view that profile.
The company describes this as a shift toward what it calls Active Supply Chain Security, where organizations pool visibility into shared risks rather than each running duplicate, siloed assessments. Risk Ledger says more than 16,000 organizations across financial services, critical infrastructure, government, and insurance have joined the network.
What the Funding Is For
Risk Ledger plans to use the new capital to grow the network further, deepen the risk intelligence shared across it, and build out AI tools that automate supplier reviews and surface risk signals. The round will also fund a push into the US market.
Axiom Equity founding partner Jonathan Organ said the firm was drawn to the network effects built into Risk Ledger’s model, arguing that the platform gets harder to replicate and more valuable as more organizations join it.
Context
The raise lands amid steady investor appetite for supply chain and third-party risk tooling, as breaches increasingly originate through vendors rather than direct attacks. It follows a string of other recent cybersecurity funding rounds, including Quantifind’s $200 million raise for AI-native risk intelligence and Straiker’s $64 million round for AI security.
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