Risk Ledger Raises £24 Million to Expand Its Supply Chain Security Network
The London firm wants more organisations checking each other's security hygiene in one shared space. Now it has the money to push into the US and build AI review tools.
Key points
- Risk Ledger raised £24 million (about $32.3 million) in a Series B round, bringing total funding to £33.8 million (about $45 million).
- Axiom Equity led the round, with returning backer Mercia Ventures also participating.
- More than 16,000 organisations across financial services, government, insurance, and critical national infrastructure have joined the network.
- The company plans to grow its network, add AI-powered review tools, and expand into the United States.
- Risk Ledger was founded in 2018 and is headquartered in London.
Supply chains are a headache in cybersecurity. A bank or a government agency might have excellent security itself but still get hurt because one of its suppliers, a small software vendor or a cleaning company with building-access systems, got broken into. Risk Ledger was built to address exactly that problem.
The platform works like this: suppliers complete a standardised security questionnaire and keep it current. Every buying organisation in the network can read those answers. It's a shared, living report card, visible across the network rather than locked in one company's filing cabinet.
Why does this matter to ordinary people?
It matters because supply chain attacks have repeatedly hit services people depend on. When a little-known software vendor gets broken into, hospitals lose patient records and retailers leak customer payment details. Sharing supplier security data across a network means problems surface faster, before criminals can move further up the chain.
Risk Ledger calls this model "Active Supply Chain Security": organisations defending together rather than each one quietly assessing the same suppliers in isolation and never comparing notes.
Axiom Equity's founding partner Jonathan Organ said the network becomes more valuable the bigger it grows, which is a real dynamic in platforms of this type. The thousandth organisation to join gets more useful intelligence than the tenth did.
The fresh capital goes toward three areas: recruiting more organisations, deepening the risk intelligence members share, and building AI tools that read and score supplier assessments automatically so human reviewers focus on genuine red flags rather than routine paperwork. A US expansion is also planned, a meaningful step given that American financial services firms and government agencies carry their own strict third-party risk requirements.
We covered the governance gap behind this kind of product in our 14 July piece on vendor risk and board accountability, which found that most companies review suppliers and tick boxes but can't quantify what a vendor failure would actually cost them. Risk Ledger's network model is a direct response to that blind spot.
Should you worry if your customers ask you to join?
If you work for a supplier and your customers start asking you to join a shared security platform, take the questionnaire seriously. Incomplete or outdated answers are increasingly a reason buyers walk away. Regulators in the UK and the EU are tightening supplier security rules, and platforms that make assessments shareable rather than siloed are becoming a practical answer to those requirements. That train's already moving.
