Risk Ledger, a London-based supply chain cybersecurity platform, has closed a 24 million pound Series B funding round led by Axiom Equity with participation from existing backer Mercia, bringing the company’s total funding to roughly 33.8 million pounds since its founding.
The company describes its mission as moving organizations beyond traditional third-party risk management, which typically relies on static, point-in-time vendor questionnaires, toward what it calls active supply chain security: a collaborative platform where organizations and their suppliers continuously share and update risk information rather than refreshing it only during annual audit cycles.
Supply chain risk has become one of the fastest-growing categories of enterprise cybersecurity spending following a string of high-profile incidents in which attackers compromised a single software vendor or service provider to reach dozens or even hundreds of downstream customers at once. Traditional vendor risk assessments, often built around lengthy spreadsheets and annual renewal cycles, have struggled to keep pace with how quickly a supplier’s security posture can change.
Risk Ledger plans to use the fresh capital to expand into the United States market, deepen its product’s use of artificial intelligence to help both buyers and suppliers manage the growing volume of security assessments they exchange, and grow its network of connected organizations, which it positions as a key differentiator since a supplier already verified on the platform for one customer can share that verified profile with other buyers rather than repeating the same paperwork from scratch.
The round adds Risk Ledger to a broader wave of supply chain and third-party risk startups that have attracted investor interest through the first half of this year, as enterprise security budgets increasingly shift from purely perimeter-focused tools toward vendor and partner ecosystem visibility. Whether that momentum translates into durable market share will likely depend on how well platforms like Risk Ledger can demonstrate measurable reductions in actual supply chain incidents, rather than simply faster paperwork. For a sector still working out how much of its value proposition is genuine risk reduction versus compliance convenience, investor appetite at this scale suggests the underlying problem is seen as far from solved.
