Cybersecurity company Guardz announced that it raised an $18M Series A round led by Glilot+, the early growth fund of Glilot Capital Partners. Guardz existing investors Hanaco Ventures, iAngels and GKFF Ventures participated, joined by new investor ClearSky. The investment comes less than a year after Guardz launched with $10 million in seed funding, bringing its total funding to date to $28 million.
Since emerging from stealth, Guardz optimized its holistic cybersecurity offering for MSPs serving small businesses. In less than a year, Guardz noted that it has partnered with hundreds of MSPs, securing thousands of the businesses they manage in the U.S. and Europe.
New funds will be used to fuel commercial growth and accelerate product development to increase cybersecurity coverage, expand sales and marketing and promote customer operations on a global scale.
Small businesses are increasingly targeted by cybersecurity attacks, which Guardz claiming that recent years have seen them suffer 43 percent of data breaches, with nearly $7 billion in reported losses. Still, only 14 percent of small businesses are prepared to defend themselves. MSPs, in turn, face challenges in managing multiple companies’ cybersecurity setups across a multitude of disparate platforms, sourcing attractive cyber insurance coverage for their customers, and successfully outshining competitors for new clients.
The Guardz’s cybersecurity platform empowers MSPs to seamlessly manage small business customers’ cyber posture, subscription plans and remediation from a single, multi-tenant platform. The holistic solution provides automated threat detection and remediation across all attack vectors, including business data, employee identities, cloud directories, web browsing, emails and devices, with real-time risk prevention and actionable alerts. The AI-powered solution automatically monitors a company’s external and internal digital footprint to continuously analyze cybersecurity risk and remediate threats. Additionally, Guardz’s comprehensive cybersecurity protection enables MSPs to offer their clients cyber insurance, which was previously inaccessible due to a lack of cybersecurity controls, generating an additional MSP revenue stream and further protecting their customers’ business interests.
“MSPs are at the forefront of protecting small businesses, which underpin the US economy, and we are on a mission to empower them to do so better and more efficiently,” said Dor Eisner, CEO and Co-Founder of Guardz. “We are proud to enable our MSP partners to ensure not only small businesses’ cybersecurity posture, but also the longevity of their businesses. The time is now to double down on our successful go-to-market machine and equip even more MSPs to do so.”
