Naq, a cybersecurity and compliance firm based in the UK and Netherlands, has successfully raised €6 million (£5.1 million) to assist health technology companies in meeting NHS standards.
About Naq
Founded in 2020, Naq emerged from the UK Government’s National Cyber Security Centre innovation accelerator program. The company offers an automated compliance platform designed to help digital health technologies adhere to regulatory requirements related to:
- Cybersecurity
- Privacy
- Clinical safety
Funding Utilization
The newly acquired funding will be directed towards:
- Accelerating product development
- Expanding AI capabilities
- Adding more compliance standards, including:
- Medical Device Regulation
- ISO 42001
- SOC2
- HIPAA
- Growing clinical and cybersecurity teams
Impact on NHS Suppliers
Nadia Kadhim, co-founder and CEO of Naq, emphasized the importance of protecting patient data as the NHS transitions from analogue to digital systems. She stated:
“With this funding, our technology will help even more NHS suppliers meet security standards without complexity or the excessive cost of consultancy offerings, saving innovators more than 180,000 hours or £20,000 per compliance standard.”
Efficiency in Compliance
Naq’s platform automates over 80% of compliance tasks, providing a simpler and more cost-effective method for innovators to achieve, monitor, and manage their digital health compliance. This efficiency allows them to bring their solutions to market more quickly.
Client Base
Currently, Naq collaborates with over 150 health technologies serving the NHS, including:
- SISU Health
- Kidney Beam
- Melo
- Virtual Ward Technologies
- RareCan
- Visiopath
- OTESA
- Oxford Dynamics
Investment Details
The latest investment was led by Automate Health, a company that supports B2B healthcare SaaS technology firms in enhancing efficiency, compliance, and patient experience. Matt Taylor, CEO of Automate Health, remarked:
“Naq is an industry-leading platform with a loyal customer base, sticky revenue, and growing demand as cybersecurity becomes mission-critical across health systems.”
Growth Trajectory
Naq has experienced over 300% year-on-year revenue growth, indicating strong market demand and the effectiveness of its compliance solutions. Existing investors, including angel investor Maurice Beckand Verwee from Crosspring/NL, continue to support the company.