FAST-growing cyber security software company Titania has acquired a new base in Worcester and the move could bring more jobs to the city.

Via a £1m funding package from HSBC’s South West Midlands commercial team, the company has purchased Security House, a four storey, 8,500 sq ft property on Barbourne Road, as it looks to expand its development and sales and marketing teams. Titania currently employs 21 people and plans to increase its team to 30 over the next two years, outgrowing its current central Worcester location.

Titania was founded in 2010 by Ian Whiting and specialises in developing auditing software to test the security of computer networks and systems. It has enjoyed strong growth since launching and expects to generate annual sales of £1.8 million during its current financial year.

Mr Whiting said: “As the business has grown we’ve taken over extra parts of the office block we are currently in, but we are at maximum capacity and now need our own property to cater for our current size and anticipated growth levels. The move will mean we have space to expand our development sales and marketing teams as well other areas of the business. We will also have corporate meeting rooms where we can take clients for the first time, so it is an important move for our business. HSBC has been very supportive and worked closely with us on this transaction.”

Titania exports its products to over 60 countries globally, working with organisations in financial services, telecommunications, IT security, Government and defence. The company offers two main software products, Nipper Studio and Paws Studio, and will launch a new product in the autumn that gives customers an instant view of their security landscape.