Manchester-based security start-up secures pre-seed investment from SFC Capital to expand its team and develop its platform.
"Almost every aspect of technology has moved on in recent years, yet security testing hasn’t. We want to change penetration testing from a once-per-year consultancy exercise into a SaaS platform which provides continuous support and reassurance to development teams."
GV led the Series A round with backing from Decibel and high-profile angel investors.
"An explosion in SaaS adoption, coupled with a big push to self-service platforms driven by product-led growth (PLG), means employees increasingly sign up and buy SaaS directly without going through the security team first. This creates an unwieldy sprawl of SaaS applications being introduced to the business with no corporate oversight. Security teams have to play catch-up to ensure these apps aren’t exposing their businesses to undue security risks or invalidating their security compliance."
The Series A round was led by Conviction with participation from numerous strategic and venture capital investors.
"The response from businesses to the capabilities of synthetic data has been huge. Enabling our customers to access and actually use their data unlocks real commercial value. Hazy has been working in the generative AI field since our inception in 2017 and we are excited to see where the space goes. This funding will solidify our position as the leading synthetic data provider for enterprises to unlock value through their data and enable us to explore the greater potential of generative AI to produce real results for businesses, with no privacy limitations."
Eurazeo led the Series B round to support international growth and product development.
"Rapid, strategic innovation has enabled us to grow quickly and effectively. As a platform purpose-built for the cloud, we are providing the solutions needed so that security teams can drastically speed up incident response in the cloud,"
Oxx led the Series B round with participation from institutional and returning investors to fund product development and global expansion.
"Once again, we were blown away by the interest we received from investors, but as we carve our niche in the market, we remain steadfast in being selective of shareholders whose values and ambition align closely with our own. In spite of the economic downturn, we are encouraged that some of Europe’s most reputable investors believe in, and are keen to financially support, CyberSmart’s mission to protect and empower the underserved SME market against cybercrime. More importantly, we are delighted that they trust us to deliver on that vision, and I look forward to seeing how much we can accomplish in the year ahead."