SensCy, which is helping SMEs bolster their cybersecurity health, has secured $4m in its seed funding round.
The oversubscribed funding round was backed by Secure Octane Investments, ID Ventures, Wakestream Ventures and Michigan Rise. Several unnamed angels also participated.
SensCy’s supplies SMEs with education, sound policy, best practices and a better understanding of their cyberhealth. This includes regular reports and alerts to real-time threats.
Through this, clients can reduce the risk of falling victim to a cyber-attack, but also improve the response process if an attack does occur.
One of the company’s products is SensCy Score. This is a numeric representation of the effectiveness of an organisation’s cyberhealth. By using various data points, the algorithm calculates a personal score, with an ideal score being at or above 800.
SensCy CEO Rick Snyder said. “SMBs are in desperate need of cybersecurity guidance because they are significantly less protected than larger organisations. SensCy launched in July 2022, to fill this void. We offer our clients an affordable, easily understood solution and the personal attention required to create a proactive cybersecurity culture to help mitigate their risk.”
Secure Octane Investments managing director Mahendra Ramsinghani added, “The SensCy team is an all-star team, unique in many ways—they bring a sense of urgency, expertise in starting and building global enterprises, and above all, the much-needed human touch.
“Cybersecurity is a growing problem, but technology cannot solve everything. If it did, we would not be seeing ransomware stealing away $40 – 50bn each year.”
Last week saw a couple of CyberTech companies launch out of stealth. Axiom is a new cloud security solution, which came out of stealth with a $7m seed round.
Cyber insurer SecondSight also exited stealth with the launch of its AI-driven platform and an oversubscribed $3m seed round.
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