• Sector: Software
  • Year of investment: 2011
  • Acquisition value: Not disclosed
  • Year of sale: 2016
  • Realised value: Not disclosed
  • Website:

Lyceum Capital's support enabled us to build our products and technical capabilities and deliver new technology to customers in diverse markets.

Heath Davies, CEO of Clearswift


Clearswift provides online security products that help clients manage inbound threats, prevent data loss and improve compliance across both web and email communications.

Headquartered near Reading, the company has satellite operations in Germany, Spain, Japan, the US, Australia and Holland and boasts a strong foothold in the defence, government and financial sectors.


Clearswift operates in the £2.6bn email and web gateway subsector of the security software market. With growing risk of high profile security breaches, the proliferation of social media, and new legislative and regulatory compliance, demand in this software segment is growing rapidly.


The business was well-placed to capitalise on opportunities arising from this expanding, but still fragmented, market. Our strategy included:

  • Driving organic sales through focussed sales and marketing
  • Bolstering technical functionality through further product development
  • Strengthening sector and geographic reach organically and through targeted acquisitions

“Clearswift waswell-positioned to continue driving organic expansion through sales into both existing and new market segments, including the US.” Jeremy Hand, Managing Partner at Lyceum Capital and former Clearswift board member


With our support Clearswift:

  • Agreed a strategic partnership with US-based Blue Coat Systems
  • Experienced exceptional increase in EBITDA to over £6m
  • Expanded its reach to more than 3,000 clients worldwide