Socura
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Analyst Coverage: Alan Rodger
Socura is a pureplay MDR provider based in the UK and headquartered in Cardiff. It currently serves 40 UK customers, although as consortium deals are included the number of individual organisations it serves is nearer 60. Having earned various UK government security accreditations, the UK public sector and NHS are prime sectors for customer engagement. Socura also has a presence in other customer markets including finance, construction, manufacturing, retail, media and telecoms.
Its consortium deals include a package for the Welsh government that encompasses public sector bodies throughout the country. This includes councils, public institutions, and government departments, with individual requirements from organisations accommodated. Similarly, a deal with a manufacturing company provides different service requirements for numerous subsidiaries, on a flexible basis. Socura hopes to grow its business in the education sector, where a similar model could be an attraction to universities and colleges.
The company was established in 2019, and each member of its leadership team has a wealth of past experience having worked for security solutions vendors, MDR providers, and end-user companies. It states that its survey-assessed Net Promoter Score, based on whether customers would recommend Socura to others, is 86 (i.e. ‘excellent’) – and, that the company has never lost a customer. Indeed, it has gained business from customers of larger providers who have decided Socura can provide better customer focus. Overall the company’s revenue growth has exceeded 80% in every operating year.
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