Zygon, a Paris, France-based cybersecurity solution for managing the risks associated with the proliferation of Software-as-a-Service (SaaS) applications within enterprises, secured $3 million in a seed funding.
SaaS Investors
The round was led by Axeleo Capital, with participation from Kima Ventures and several cybersecurity angel investors.
Axeleo Capital (AXC) is an emerging independent early-stage VC, with €150 million in assets under management (AuM). AXC provides a unique framework for European early-stage startups. It offers a comprehensive range of support, including equity investments from seed to Series B stages, operational guidance, and strategic assistance.
Zygon Use of Funds
The funding will help Zygon expand its product to a broader audience of enterprises struggling to scale their security efforts in line with the rapid growth of SaaS applications.
About Zygon
Founded in 2023, Zygon is a cybersecurity solution that focuses on protecting enterprises from the risks associated with the uncontrolled spread of Software-as-a-Service (SaaS) applications among their teams. Zygon offers a SaaS security posture management solution that helps security teams discover, inventory, and automate security rules for the SaaS applications used across their organizations.
Zygon is coming out of beta with a full set of security automation: app discovery and app inventory building, application admin takeover, collaborator offboarding, upgrade of authentication methods, and more.
Funding Details
Company: Zygon Technologies, Inc.
Raised: $3.0M
Round: Seed Round
Funding Month: October 2023
Lead Investors: Axeleo Capital
Additional Investors: Kima Ventures
Company Website: https://www.zygon.tech/
Software Category: Cybersecurity - SaaS Security Posture Management
Source: https://www.zygon.tech/post/zygon-raises-3m-in-seed-funding-to-create-security-solutions-for-the-saas-era