Secfix, a Berlin-based cybersecurity startup, announced that it had received €3.6 million in a seed round of funding that was oversubscribed and was headed by Octopus Ventures.
The creators of Signavio and Blair, Commerzbank-affiliated Neosfer, as well as previous investors and serial business owners, also took part in the round.
According to Secfix, the money will be used to quicken the company’s expansion into Europe, accelerate product growth, and increase customer assistance.
The business adds that it will use the money to boost platform automation and extend its tool integration services.
After operating a marketplace for ethical hackers, Fabiola Munguia, Grigory Emelianov, and Branko Dkula created Secfix. The group realized that many of their clients wanted help getting an ISO 27001 accreditation.
Cybersecurity startup was founded by its founders because they recognized the urgent need for a product that would simplify the certification procedure for small and medium-sized companies.
Secfix automates all IT security configurations for small and medium-sized businesses to achieve the highest levels of compliance and obtain certification in the security standards they must satisfy, including ISO 27001, TISAX, GDPR, and SOC 2.
The German firm connects to a company’s tech stack, such as Azure, Office365, AWS, GCP, Jira, and Personio, to assist businesses in meeting security standards.
Cybersecurity and Online Privacy
It then gathers the necessary data and creates a plan to assist them in becoming and maintaining certification in the standards they require.
According to Secfix, its platform can save companies hundreds of engineering hours and get them compliant in a matter of weeks, as well as at least 30% of the time and effort spent by inspectors.
A venture capital company called Octopus Ventures invests in and supports the people, businesses, and concepts that are reshaping the world in the UK and throughout Europe.
The VC has developed experience in six industries: B2B software, consumer technology, deep technology, fintech, and health. Over 180 companies in the UK and Europe have benefited from its support, including well-known brands like Zoopla, WaveOptics, Cazoo, and Depop.
“Small and medium-sized businesses face an ever-growing complexity in ensuring data security and meeting the demanding standards required to foster customer trust,” says Fred Ellis, Investor, B2B software, Octopus Ventures. Few companies have the internal knowledge required to meet and qualify for those standards, and the process can be time- and money-consuming.
“Secfix is enhancing the quality of information security within SMBs while reducing the cost to the company by automating the development of certifiable information security processes and systems. According to Ellis, the Secfix platform will evolve into a necessary component of small companies’ infrastructure.