Today we're thrilled to announce that we've raised $3.8 million in Seed funding in an oversubscribed round. The investment was led by Octopus Ventures with participation from Neosfer, which belongs to Commerzbank, and the founders of Signavio and Blair (YC S19), as well as existing investors and serial entrepreneurs. The round comes just a year after we started with our security compliance and automation platform.
Secfix helps small and medium-sized businesses comply with cybersecurity standards. We're automating everything small and medium-sized businesses need to set up their IT security, meet the highest levels of compliance and get certified in the security standards they need to meet - ISO 27001, TISAX, GDPR and SOC 2.
With over 30 cybersecurity regulations in the US alone, and a global market for certification support reaching $16 billion, small and medium-sized businesses are under growing pressure to meet the demands of larger customers and comply with regulations. But attaining security compliance certifications is a resource-intensive and ongoing process, requiring companies to continuously meet customers' security standards. As companies grow their tech stack, add SaaS integrations, and change suppliers, their data practices evolve, making it a never-ending journey to maintain certification.
The Secfix platform helps companies meet security standards by connecting to their tech stack, including platforms such as Azure, Office365, AWS, GCP, Jira, and Personio. It collects the required information and generates a checklist to help them become and remain certified in the standards they need. The platform saves businesses hundreds of engineering hours and gets them compliant in weeks rather than months, while also saving auditors at least 30% of their time and effort.
We will use the funds raised to accelerate Secfix's expansion in Europe, boost product growth, and expand customer support, with a focus on expanding their tool integration offering and increasing the platform’s level of automation.
Fred Ellis, Investor, B2B software, Octopus Ventures comments “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 infrastructure that small businesses can’t live without.”
We, the founders of Secfix - Fabiola, Grigory and Branko- were inspired to create the platform after running a marketplace for ethical hackers. We noticed that many customers were requesting help with achieving an ISO 27001 certification. This experience showed us the urgent need for a solution that could streamline the certification process for small and medium-sized businesses, and thus, Secfix was born. With our unique understanding of the challenges businesses face, and Branko's personal experience over a decade dealing with this pain, we've developed Secfix to address these challenges head-on.
“We’re excited for this new era of security compliance. With the new funding, our amazing team and our investors’ support, we will be able to focus on bringing more value to our customers and making sure we are building something they want. We’re all about making our customers happy and helping them achieve their security compliance goals”. Fabiola, CEO
We're strongly present in the EU and have an extensive network of certification bodies in Europe. This, combined with our experience implementing security compliance in both the US and EU and our plans to expand to cover more EU standards and guidelines, makes us a trusted and reliable partner for businesses looking to ensure their security compliance.
About Secfix
Secfix automates security compliance for small and medium businesses in Europe. With Secfix, companies can get and stay compliant with standards such as ISO 27001, GDPR, TISAX and SOC 2 in weeks rather than months. Secfix integrates with the companies’ tech stack, extracts the data needed for compliance, and creates a checklist to become and remain certified.
For more information about Secfix, visit www.secfix.com
About Octopus Ventures
Octopus Ventures is one of the largest and most active venture capital investors in the UK and Europe, investing in and supporting the people, ideas, and industries that are changing the world.
It has built expertise across six sectors: B2B software, climate tech, consumer tech, deep tech, fintech, and health, and has backed more than 180 businesses across the UK and Europe, including successes like Zoopla, WaveOptics, Cazoo, and Depop. Octopus Ventures invests in people and teams from as early as ideas on a page all the way through to the later stages of growth, providing capital, expertise, and partnership.
Octopus Ventures manages £1.9 bn for retail and institutional investors and invests £200m yearly. It is part of Octopus Group, a group of entrepreneurial businesses united by a common goal: backing the people, ideas, and industries that will change the world.
Hear from Octopus Ventures experts at www.octopusventures.com
