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London, UK – July 15, 2026. Risk Ledger, the UK-based supply chain security company, today announced a $32 million Series B investment led by Axiom Equity, a specialist B2B SaaS growth equity fund, alongside repeat investor Mercia Ventures, which first backed the company at Series A. The funding will deepen its customer network in the UK, develop the supply chain security tools that AI has now unlocked, and support its expansion into the US market. Together, these will accelerate Risk Ledger’s work to move organisations beyond traditional third-party risk management and towards Active Supply Chain Security.
Supply chain cyber attacks now reach far beyond IT systems, into profits, economies, and lives. The tool most organisations rely on to prevent them, third-party risk management, was built for a simpler world. It assesses suppliers one at a time, at a single point in time, and in isolation. A modern supply chain does not work that way. It is a living system of thousands of connected organisations, where the risk that matters most often sits several steps away, inside a supplier’s supplier.
Risk Ledger was built for how supply chains actually work. The platform is network-first. Each supplier completes one standardised assessment and maintains it across the network in real time, replacing repeated questionnaires with a single, current profile that every connected organisation can see. As more organisations join, the picture grows sharper for everyone on the network. This is the foundation of Active Supply Chain Security: a continuous and collaborative way to manage systemic risk, where organisations stop defending alone and begin to Defend-as-One.
More than 16,000 organisations now sit on the network, across critical sectors that include financial services, insurance, critical national infrastructure, and both central and regional government. Risk Ledger’s reputation has been built on the quality of its data, the strength of its product, and the trust of the security teams who rely on it every day.
The Series B will accelerate that work. The investment will bring more organisations onto the network and deepen the intelligence they share. It will also fund a new generation of AI tools, built on a depth of network data that competitors cannot match, to automate manual review work and reveal the risk signals that point solutions miss. And it will support the company’s expansion into the United States, where supply chain breaches and regulatory pressure are both rising quickly.
Haydn Brooks, CEO and Co-founder of Risk Ledger, commented: “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.”
Jonathan Organ, Founding Partner of Axiom Equity, added: “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.”
Adam Lovell, Venture Capital Investor at Mercia Ventures, added: “We backed Risk Ledger at Series A because we believed Haydn and the team had identified a fundamentally better way to manage supply chain cyber risk. Three years on, that conviction has only strengthened. The team, customer base and the quality of the product all speak for themselves. We are delighted to welcome Axiom as lead investor and excited to see what the business can achieve with the capital and operational support this round provides.”
About Risk Ledger
Risk Ledger is a network-first platform delivering Active Supply Chain Security. Founded in 2018 by Haydn Brooks and Daniel Saul, the company was built on a clear belief: supply chain security is a collective problem that needs a network, not another point solution. At the core of the platform is a standardised assessment that each supplier completes once and shares across the network, replacing repetitive questionnaires with a single, continuously updated profile. This connects thousands of organisations into a living network that reveals concentration risks and nth-party dependencies traditional tools miss, and lets clients and suppliers Defend-as-One.
About Axiom Equity
Axiom Equity is a specialist growth equity fund focused on B2B SaaS businesses headquartered in the UK and Ireland. This investment marks Axiom’s final deployment from Fund I, completing a portfolio of category-leading software businesses. With Fund II already committed and ready to deploy, Axiom continues to back exceptional software teams at the growth stage.
Axiom was supported in its investment by Addleshaw Goddard (legal), James Cowper Kreston (financial and tax due diligence), and Lighthouse Advisory (commercial due diligence).
About Mercia
Mercia Ventures is a proactive venture capital investor focused on being the first-choice partner for growth. Mercia Ventures makes equity investments of up to £10million across all sectors, with specialisms in Software, Consumer, Lifesciences and Deep Tech.
Mercia Ventures is a trading name of investment funds managed by Mercia Fund Management Limited and Mercia Regional Ventures Limited, part of the Mercia Asset Management PLC Group, and sits alongside the Group’s wider private equity, debt and proprietary balance sheet operations. The Group has 11 offices in the UK, and Mercia Ventures’ national footprint and 48 strong investment team draws on their experiences as founders, PhD scientists, software engineers, corporate financiers and management consultants to help our partner companies successfully achieve their ambitions.
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Image source: riskledger.com
