Secfix, which helps SMEs in Europe automate security compliance, has raised $3.8m for its seed round as it seeks European expansion.
Octopus Ventures, a London-based venture capital firm, served as the lead investor. Other commitments came from Neosfer and the founders of Signavio and Blair.
Existing Secfix backers also committed to the seed round.
With the burst of funds, Secfix aims to bolster its expansion in Europe, boost its product growth and expand customer support. It is currently exploring ways to expand its tool integration offering and increase the platform’s level of automation.
Founded in 2020, Secfix automates all processes SMEs need to set up their IT security and get certified with the standards ISO 27001, TISAX, GDPR and SOC 2.
It helps companies meet security standards by connecting to their tech stack, including platforms such as Azure, Office365, AWS, GCP, Jira and Personio. It then collects the required information and generates a checklist to help them become and remain certified in the standards they need.
Secfix claims its platform can save businesses hundreds of engineering hours and get them compliant within weeks, whilst also saving auditors 30% of their time.
Fred Ellis – investor, B2B software at Octopus Ventures – said, “Small and medium-sized businesses face ever growing complexity in ensuring data security and meeting the rigorous standards needed to create customer confidence.
“Few businesses have the expertise they need to meet and apply for those standards in-house, and the process can become a drain on time and money. By automating the building of certifiable information security processes and systems, Secfix is improving the quality of information security within SMBs while lowering the cost to the business. The Secfix platform will become infrastructure that small businesses can’t live without.”
The CyberTech company was founded on the back of a marketplace for ethical hackers. The founders wanted to help companies find verified and trustworthy ethical hacking companies and was able to attract some big enterprises as customers, as well as smaller startups.
However, the founders soon realised there was a bigger problem for SMEs around the world, which was the need for tools to help meet ISO 27001 compliance. With this goal, the team expanded its solution to help companies automate their compliance.
In other CyberTech news, trackd recently secured $3.35m in its seed funding round as it emerged from stealth. The company offers vulnerability and patch management software to help security teams automate vulnerability remediation.
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