Sendmarc, a Cape Town, South Africa-based startup that helps customers avoid email impersonation such as phishing and spoofing, raised $7 million in Series A funding.
The round was led by Atlantica Ventures, with participation from Allan Gray E-Squared Ventures, Fireball Capital, Endeavor Catalyst, 4Di Capital, Kalon Venture Partners, Endeavor Harvest, and Alpha Private Capital.
The funds will be used to expand its market enablement strategy and to continue improving its product, with a focus on being the best in email and domain security.
The startup actively enforces its email and domain security protection for thousands of companies worldwide, including stock exchanges, banks, insurance companies, tech companies, retailers, municipalities, law firms, and law enforcement agencies in North America, Europe, Australia, South Africa, and Latin America.
“We are proud to have protected over 10 billion emails from impersonation last year,” said Sendmarc CEO and founder Sam Hutchinson. “And with this new funding we can expand our market enablement strategy and also continue to improve the product, while remaining hyper-focused on being the best in this specific area of defense.”
Company: Sendmarc (Pty) Ltd
Raised: $7.0M
Round: Series A
Funding Month: February 2023
Lead Investors: Atlantica Ventures
Additional Investors: Allan Gray E-Squared Ventures, Fireball Capital, Endeavor Catalyst, 4Di Capital, Kalon Venture Partners, Endeavor Harvest, and Alpha Private Capital
Company Website: https://sendmarc.com/
Software Category: Network Security Software
About the Company: Founded in 2018, by Sam Hutchinson, Keith Thompson, and Sacha Matulovic to help make the internet safer, Sendmarc is a developer of network security software intended to protect customers, brands, and employees from email impersonation and phishing attacks. Sendmarc makes the internet safer by eliminating email phishing & making it common for people to have complete confidence when communicating & transacting. Sendmarc automates the process of protecting your domain from being used in email impersonation and phishing attacks. The company's platform helps organizations to quickly configure DMARC, SPF, and DKIM to authorize legitimate senders, enabling clients to easily understand who is sending emails from their domain, where the threats lie, and the steps needed to authorize senders.
Source: https://disrupt-africa.com/2023/02/14/sa-online-security-startup-sendmarc-raises-7m-funding/