Cyber risk management startup Caveonix sourced USD 7 million funding
Category: #technology |   By Hrishikesh Kadam |   Date: 2021-01-06  | 
  • Share
  • Twitter
  • Facebook
  • LinkedIn

Cyber risk management startup Caveonix sourced USD 7 million funding

Virginia based digital risk and compliance management solutions developer company, Caveonix, which was founded in October 2017, has reportedly declared that it has secured USD 7.3 million in Series A funding, which was led by First In Capital, alongside other initial investors in the company.

As per the reliable sources, the funding will enable Caveonix to expedite its expansion in crucial areas such as product and business development. The company is focusing on the upcoming launch of a new SaaS platform, Caveonix Cloud, which is a suite of modules built on RiskForesight, including Cloud Workload Protection Platform (CWPP), Cloud Security Posture Management (CSPM), and integrated Governance Risk & Compliance (GRC).

Moreover, the Series A funding will support the company’s partnerships with Dell, VMWare, AWS, and IBM, while serving customers across enterprise and federal markets. Sources close to the development claimed that the funding will also be leveraged by Caveonix to expand its sales force, develop & implement market strategies, and make additions to product development and customer service teams.

First In Capital managing partner, Renny McPherson stated that as more businesses migrate to cloud computing to manage their operations, Caveonix is directing their journey for secure digital transformation. He further added that their team at First In Capital believes that Caveonix was created in the nick of time, and the funding round allows the company to spearhead many levels.

Meanwhile, Tim Sullivan, Co-CEO of Caveonix, was reportedly stated that the company envisions to accelerate digital transformation by providing constant monitoring and compliance solutions for hybrid and multi-cloud environments.

Sullivan showcased his delight for a successful funding round and added that the industry vertical is continuously evolving and Caveonix will evolve with it, thereby offering improved risk management solutions to mitigate risk and secure cloud based environments.

Source Credits –

https://www.businesswire.com/news/home/20210105005065/en/Caveonix-Secures-Over-7-Million-in-Series-A-Funding

 

 

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Hrishikesh Kadam    

Hrishikesh Kadam

A graduate in electronics and telecommunication engineering, Hrishikesh Kadam has always found writing fascinating. Driven by a never-ending passion for content creation combined with a bit of experience in writing personal blogs, Hrishikesh blends his technical knowl...

Read More

More News By Hrishikesh Kadam

Atos to strengthen its cybersecurity footprint through In Fidem buyout
Atos to strengthen its cybersecurity footprint through In Fidem buyout
By Hrishikesh Kadam

French multinational information technology company Atos has reportedly finalized an agreement to acquire In Fidem, a Quebec-based cybersecurity specialist. According to reliable sources, In Fidem’s acquisition will allow Atos to strengthen its...

Milestone acquires Covestic to boost IT managed services portfolio
Milestone acquires Covestic to boost IT managed services portfolio
By Hrishikesh Kadam

Milestone Technologies, an IT service management company, has recently announced the acquisition of the U.S.-based IT professional services company, Covestic, LLC. The deal was geared towards the expansion of the company’s regional footprint in...

China pledges to revisit anti-monopoly laws against internet platforms
China pledges to revisit anti-monopoly laws against internet platforms
By Hrishikesh Kadam

In recent developments, an annual central conference for China’s judicial, public security, and prosecution work reportedly pledged to reinstate judicial laws and regulations against anti-competitive acts and internet monopolies this year. The...