Meterian aims to become the go-to platform for small and medium sized businesses’ continuous application security. Just as antivirus software protects users’ computer devices, Meterian’s platform secures open source components to prevent critical loss of basic functionality and security so that companies can ship software without vulnerabilities.
During its pre-revenue generation days, Meterian focused on accelerating its commercial development by further developing its value proposition and strategising its market launch efforts.
Identifying valuable next steps for a startup business
Digital Catapult was recommended to the Meterian team when it was only two members strong and learned that Digital Catapult ran an accelerator programme especially for cybersecurity companies. Meterian was keen to join a Cyber 101 Bootcamp.
The pre-revenue stages for a startup are especially critical, as this is where companies would require the most help to get to the revenue generation stage. Business strategy, positioning, and customer acquisition are the key areas where startups need to devote more resources to arrive there.
Adopting a best practice approach to making positive connections
After the Cyber 101 bootcamp, the Meterian team participated in three other workshops: business strategy, a customer day and an investor day.
Digital Catapult has been a significant catalyst for Meterian’s growth. In addition to benefiting from the expertise and network of the Cyber101 delivery partners (including Inogesis, The Accelerator Network), the team has also gained deeper insight into investors’ thought processes when evaluating businesses. Meterian strategically connected with several prospects at Digital Catapult’s customer and investor days. This created follow-up opportunities for future dialogue, one of which led to Meterian closing its seed investment round, further helping the business to thrive.
Delivering the plan and growing the business
Since participating in Digital Catapult’s workshops, the Meterian team has been diligently executing its business plan and increasing its marketing efforts. Being able to recruit additional employees means there is no longer a single dependency on Meterian’s technical founder, and the team has therefore been able to launch an additional product: a rapid website security scanner that provides prospective customers with a relevant analysis sample.
Meterian continues to test the market to validate its value proposition – that companies developing software need fast and fuss-free solutions to secure the open source components used in their apps. The goal is to make Meterian the go-to platform for continuous application security of small businesses. Meterian is working towards more solutions for application security, so that companies can efficiently and continuously innovate with security built into their software development life cycle.
Acquisition of new trial organisations
2 to 5
Employees increased from 2 to 5
£150,000 invested in the business