'We don't want the complexity of private equity' - Saepio boss

Director at cybersecurity VAR Rob Pooley tells CRN of plans for ‘consistent organic growth’

Saepio is not looking for private equity backing, despite many investors seeing cybersecurity as a red-hot area for investment, director Rob Pooley has told CRN.

The High Wycombe-based cybersecurity provider was incorporated in 2016 by "two people in a shoe box-sized office" according to Pooley.

And despite a hubbub of M&A activity in the cybersecurity space, with private equity seeing the security-focused channel partners as hot property, Pooley said there are no plans for Saepio to take the plunge any time soon.

Pooley said private equity adds "complexity" to a business and that Saepio would rather stick with consistent organic growth over the "hyper growth" that often comes with private equity.

"Unless there was a really, really obvious collaboration between us and a private equity company where two of us could work together brilliantly and it wouldn't impact our strategy at all, [then we're not interested]," Pooley told CRN.

"But being blunt, we're not looking to add that complexity to our business. We want to just grow organically, and we feel that's what we've done since day one.

"We started as two of us in a shoe box four-and-a-half years ago and we've built up slowly and organically. We're not looking for hyper growth, we're looking for consistent organic growth."

Two of Saepio's directors, including Pooley were left bedridden for weeks with Covid, while his colleague Nick Moss was hospitalised for 100 days with the virus.

Pooley previously described the experience as "without doubt the hardest year of my life".

But now coming through the pandemic, the security VAR plans to resume a recruitment drive throughout the business as it maintains a bullish outlook on the year ahead.

The Mimecast, Rapid7 and Druva partner is looking to break through the £10m-revenue barrier in its current financial year.

"At the start of May we've got four people lined up to join us. Then we're going to be bringing on people every quarter and maybe double the employee count over the next 12 to 18 months. Demand is high and so our workforce needs to grow in line with that."

Pooley said that Saepio's strategy of going deep with a small number of security vendors is helping it to take business off some of the larger names in the UK channel.

Meanwhile, a shift from organisations towards cost effectiveness has played into Saepio's hands.

"Customers are also looking to make savings where they can, so cost has become a consideration. When they're working with suppliers and partners and they want to make sure they're getting a good deal so that introduces competition. And that's what we need because we are a newer company.

"There's an opening there for us because the big brands are often content taking their annual renewals rather than innovating and driving more value. This pandemic has given us the opportunity to have conversations with people that we otherwise might not have ever been able speak with, because that drive for improved value wasn't as high on their agenda."