Tenchi Security, a São Paulo, Brazil-based technology company focused on Third-Party Cyber Risk Management secures $7 million in Series A funding.
SaaS Investors
The investment was from Bradesco PE&VC, L4 Venture Builder (a fund supported by B3, the São Paulo stock exchange), and Accenture. Existing investors such as MAYA Capital, Kinea (a part of the Itaú group), ONEVC, and GFC remain on the cap table, with the initial three making follow-on investments in this round.
Bradesco PE & VC stands out as an innovation driver within the Bradesco ecosystem, seeking global opportunities across various sectors and development stages. Managing the robust Inovabra I Fund, with over R$1 billion in assets and composed entirely of Bradesco’s proprietary capital, Bradesco PE & VC aims to maximize return on invested capital by providing flexibility and strategic expertise.
Founded in 2022, L4 Venture Builder is a venture builder firm based in Sao Paulo, Brazil. The firm prefers to invest in energy, carbon, decentralized finance, fintech, and neobank sectors.
Accenture is a global management consulting firm based in Dublin, Ireland. Founded in 1989, the firm provides services to a wide array of industries including the bank, capital markets, travel, utilities, communications, healthcare, natural resources, energy, media, technology, and retail among others.
Tenchi Security Use of Funds
The funding aims to expedite product development and bolster sales and marketing efforts, aligning with aggressive growth targets. The company plans global expansion, leveraging additional funding to strengthen operations in Brazil and beyond.
About Tenchi Security
Founded in 2019, Tenchi Security is a cybersecurity startup that specializes in Third-Party Cyber Risk Management (TPCRM). The company has developed a monitoring solution called Zanshin, a SaaS platform that connects companies with their supply chains, promotes transparency, and manages cybersecurity and privacy risks. Its mission is to reduce information asymmetry regarding information security and compliance risks in corporate ecosystems in a cooperative and scalable manner. Recognized as a Great Place to Work (GPTW), Tenchi also participates in the Scale Up Outliers program by Endeavor.
Funding Details
Company: Tenchi Security Consultoria Ltda.
Raised: $7.0M
Round: Series A
Funding Month: February 2024
Lead Investors: Bradesco PE&VC, L4 Venture Builder, and Accenture
Additional Investors: MAYA Capital, Kinea, ONEVC, and GFC
Company Website: https://www.tenchisecurity.com/
Software Category: Cybersecurity
Source: https://www.tenchisecurity.com/tenchi-security-raises-a-7-million-million-series-a-from-bradesco-l4-venture-builder-and-accenture/