Cavelo, a Kitchener, Canada-based attack surface management technology provider, secured CAD$5 million in venture capital financing.
The round was led by Inovia Capital, with participation from existing investors including Graphite Ventures.
Founded in 2007, Inovia Capital is a venture capital firm partnering with founders to build impactful and enduring global companies. Based in Montreal, Canada, the firm seeks to invest in B2B and B2C SaaS companies. Inovia manages over US$2.2B with operations in Montreal, Toronto, Calgary, Bay Area, and London.
Cavelo Use of Funds
The company will use the funding to support continued platform development, sales, and marketing efforts to meet growing customer demand across North America.
Cavelo is a cybersecurity startup helps businesses achieve attack surface management with automated data discovery, classification and reporting. Its cloud compatible cyber asset attack surface management (CAASM) platform continuously scans, identifies, classifies and reports on sensitive data across the organization, simplifying compliance reporting, vulnerability management and risk remediation. The company serves businesses of all sizes and channel partners, including IT services vendors, managed security service providers (MSSPs), and compliance consultants.
Company: Cavelo, Inc.
Funding Month: November 2023
Lead Investors: Inovia Capital
Additional Investors: Graphite Ventures
Company Website: https://www.cavelo.com/
Software Category: Cybersecurity Solutions