Defendify, a holistic cybersecurity platform for small businesses, has raised $1.6m in its pre-seed funding round.
The round was led by a selection of unnamed private investors and received contributions from venture firms including Maine Technology Institute and 3dot6 Ventures.
Proceeds from the pre-seed have been earmarked for core product expansion as well as increasing its partner acquisition to meet rising demands, it said.
Its platform offers an ‘affordable, flexible and scalable’ holistic cybersecurity solution for SMEs. The platform is capable of growing and evolving to threats in conjunction with an enterprise’s own growth.
The all-in-one security software delivers a cyber dashboard to give clients a single location to monitor health grade, alerts, reports, recommendations, products and services, users, devices, and others. The health grade service details how protected a business is and what they can do to improve their defences.
Regulatory, insurance and third-party vendor cybersecurity assessments are becoming a big part of SMEs operations, Defendify said. A study from Hiscox found that over half of SMEs in the US had witnessed a cyberattack in the past year.
3dot6 Ventures investment partner Jonathan Dambrot said, “SMBs are under immense pressure to find cybersecurity solutions that help meet regulatory needs and satisfy requirements coming from their customers.
“Finding a way to do that holistically and at a reasonable price point has been very challenging, until now. Defendify solves a critical problem in a massive market that is largely ignored.”
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