Berlin-based Secfix, a cybersecurity company, announced on Wednesday that it has raised €3.6M in an oversubscribed Seed round of funding led by Octopus Ventures.
Neosfer, which belongs to Commerzbank, and the founders of Signavio and Blair, as well as existing investors and serial entrepreneurs also participated in the round.
Secfix says it will use the funds to accelerate its Europe expansion, boost product growth, and expand customer support.
The company also says it will use the funds to expand its tool integration offering and increase the platform’s level of automation.
Secfix: Helps SMEs achieve security certification
Fabiola Munguia, Grigory Emelianov, and Branko Džakula founded Secfix after running a marketplace for ethical hackers. The trio realised that many customers requested assistance in achieving an ISO 27001 certification.
The founders understood the urgent need for a solution that could streamline the certification process for small and medium-sized businesses.
Thus, Secfix was born.
Secfix automates everything to set up IT security for small and medium-sized businesses to meet the highest levels of compliance and get certified in the security standards they need to meet – ISO 27001, TISAX, GDPR, and SOC 2.
The German startup helps companies meet security standards by connecting to their tech stack, including platforms such as Azure, Office365, AWS, GCP, Jira, and Personio.
It then collects the required information and generates a checklist to help them become and remain certified in the standards they need.
Secfix says its platform can save businesses hundreds of engineering hours and gets them compliant in weeks, while also saving auditors at least 30 per cent of their time and effort.
Octopus Ventures is a venture capital firm in the UK and Europe, investing in and supporting people, ideas, and industries changing the world.
The VC has built expertise across six sectors: B2B software, climate tech, consumer tech, deep tech, fintech, and health. It has backed over 180 businesses across the UK and Europe, including successes like Zoopla, WaveOptics, Cazoo, and Depop.
Fred Ellis, Investor, B2B software, Octopus Ventures, says, “Small and medium-sized businesses face ever-growing complexity in ensuring data security and meeting the rigorous standards needed to create customer confidence. Few businesses have the expertise they need to meet and apply for those standards in-house, and the process can become a drain on time and money.”
“By automating the building of certifiable information security processes and systems, Secfix is improving the quality of information security within SMBs while lowering the cost to the business. The Secfix platform will become the infrastructure that small businesses can’t live without,” adds Ellis.