Risk Ledger, a supply chain cyber security platform, has secured £24m in Series B funding as it looks to push firms past conventional third-party risk management and towards what it calls Active Supply Chain Security.
The round was headed by Axiom Equity, a growth equity fund specialising in B2B SaaS, with participation from Mercia Ventures, which previously backed the company at Series A.
The capital will be used to grow Risk Ledger’s UK customer base, build out AI-enabled supply chain security capabilities, and fund a push into the US market.
According to the company, cyber attacks on supply chains now have consequences that stretch well beyond IT infrastructure, affecting profits, economies and even lives. It argues that third-party risk management, the approach most firms depend on, was designed for a far simpler era, evaluating vendors individually, at one moment in time, and without wider context. Modern supply chains, by contrast, operate as interconnected webs of thousands of organisations, where the most significant threats frequently lurk several tiers deep within a supplier’s own supplier base.
Risk Ledger’s platform takes a network-first approach. Every supplier fills out a single standardised assessment and keeps it updated in real time across the network, removing the need for endless duplicate questionnaires. Each connected organisation can view this live profile, and the collective picture becomes clearer as membership grows.
Over 16,000 organisations are now part of the network, spanning sectors such as financial services, insurance, critical national infrastructure and government at both central and regional level.
The fresh capital will be directed towards bringing additional organisations onto the platform, enriching the intelligence shared between them, and developing a new wave of AI tools designed to automate manual review tasks and surface risk signals that standalone products fail to detect. It will also underpin the firm’s US expansion, a market where both supply chain breaches and regulatory scrutiny are climbing rapidly.
Risk Ledger CEO and co-founder Haydn Brooks said, “When we started Risk Ledger, third-party risk was something every company managed on its own, and collaboration across supplier ecosystems within sectors was rare.
“We built the company on one conviction: organisations are stronger when they Defend-as-One, sharing intelligence and reducing risk together rather than in isolation. That conviction now connects more than 16,000 organisations. This investment lets us build that vision faster, extending collective defence to more customers, putting AI to work on the manual tasks that consume security teams, and bringing Active Supply Chain Security to the United States.”
Axiom Equity founding partner Jonathan Organ said, “Risk Ledger is creating a category rather than competing in an old one. The network it has built is hard to replicate and grows more valuable with every organisation that joins, which is exactly the kind of business we look to back. The team has earned real trust with serious customers, and the product reflects that discipline. We are pleased to lead this round as the final investment from our first fund, and to support Risk Ledger through its next stage of growth.”
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