The experiences from the last 12 months at LORCA has taught us a massive amount about our own strengths as well as the needs of our clients. The continuous support from LORCA has enabled us to accomplish our goal of creating Otlo as a brand in its own right and a platform for future investment. As a result, we’ve expanded internationally and are now part of a very successful Austrian health IT service company.

We joined LORCA for a number of reasons. Firstly, to help increase the company’s brand awareness and spread our mission statement so that people know what we are up to. Secondly, to help facilitate conversations with buyers. At the minute most buyers react badly to vendor approaches unless they are introduced, or the vendor has some credibility and so LORCA is a nice way to facilitate that.
The programme is light-touch but maximum impact. We are able to continue growing the rest of the company and keep our focus where it needs to be whilst capitalising on a lot of the support LORCA offers. For companies our stage we tend to find either accelerators are too high-touch (they detract from other aspects of running a company) or don’t offer any real support apart from a badge. LORCA has struck a nice balance.

We’ve gone through numerous accelerators and LORCA has been one of the most beneficial programmes so far. In just one year, we’ve gained immense opportunities to grow and expand in the UK. Thanks to LORCA, not only have we managed to transfer our team to London but we’ve also established relationships with governmental agencies and top IT companies in the UK. This has resulted in game-changing agreements and partnerships for us.

LORCA has had an immediate impact on our business. It has established a relationship for us that resulted in a new enterprise client within weeks. The knowledge sharing has helped us develop our leadership team’s approach to market and form a close network of allies within the industry.

Through working with LORCA, we raised an additional £2.6m in funding at the end of 2019 – totalling over £4.5m over the life of the business. One particular success during the LORCA programme was during the RSA trade mission to San Francisco. This trip enabled our CEO to meet with potential customers, including local transport operators, tier 1 rail suppliers and cybersecurity partners. Through these meetings RazorSecure was able to win an initial customer in Silicon Valley and strengthen several key relationships that have resulted in contract bids in the USA and Europe.

Our involvement with LORCA has been a fantastic catalyst for expansion in the UK and we’ve learned a great deal along the way. It has opened many doors, specifically with Deloitte, Lloyds Banking Group, the UK Cyber Deception Lab and the NCSC. LORCA has also provided us with crucial opportunities to pitch to customers and investors in our target markets. This was invaluable, especially in the run up to our recent late-Seed raise of $5m during early 2020.
We’ve also been able to leverage the LORCA network to support our expansion to the US, building off our work to date with the US government (a connection which was made on an international trade mission alongside the LORCA team). LORCA’s support has enabled us to build a network of relationships in the UK and beyond that will be central to our future growth.