South Africa-based Sendmarc, which protects against email impersonation, has reportedly raised $7m in its Series A round, as it looks to expand its team globally.
Altantica Ventures served as the lead investor, according to a report from TechCrunch. Other commitments came from Allan Gray, E-Squared Ventures, Fireball Capital, Endeavor Catalyst, 4Di Capital, Endeavor Harvest, Alpha Private Capital and Kalon Venture Partners.
With the funds, Sendmarc will increase its sales team across Africa, Europe, the US and Latin America.
Founded in 2020 by Sam Hutchinson, Keith Thompson and Sacha Matulovich following the sale of their former startup Everlytics. The former company allowed businesses to send, deliver and track email and SMS messages.
Through Sendmarc, the founders hoped to solve email impersonation issues their former clients faced.
Its platform helps stop criminals from sending emails through a company’s domain and protects customers, employees and suppliers.
The company claims to protect customers from impersonation by locking down their email domains and monitoring them for attempted abuse.
Its chief strategy officer Sacha Matulovich told TechCrunch that its tech is based on email authentication methods such as Sender Policy Framework and the Domain-based Message Authentication, Reporting, and Conformance. These are global email security standards that protect domains against spoofing, and used by major companies including Google, Meta and Microsoft.
Matulovich told TechCrunch, “There’s a global standard designed by a consortium of the world’s largest tech companies. Every domain owner has to implement the standard, but it’s difficult to do so.
“It’s not something you can switch on in your Microsoft or Google. So we’ve built software enabling businesses to access these protocols to stop their emails from being impersonated.”
The team has offices in the Netherlands, Argentina and Canada.
In other CyberTech news, Canada-based cybersecurity SaaS platform Beauceron Security received a growth capital facility from CIBC Innovation Banking. The company offers educational services that teach employees about online security.
Copyright © 2023 FinTech Global
Copyright © 2018 RegTech Analyst
