July 26, 2024 at 10:39AM
Evo Security, an Austin-based startup, raised $6 million in a Series A funding round, bringing its total to around $15 million. The investment was led by TechOperators and supported by other firms. The company offers cloud-based MFA and SSO technologies to protect MSPs and SMBs from cyberattacks and plans to use the funding to accelerate growth and enhance its product portfolio.
Key takeaways from the meeting notes are:
– Evo Security, an early stage startup based in Austin, Texas, has successfully raised $6 million in a Series A funding round, bringing their total raised funds to approximately $15 million.
– The investment was led by TechOperators, supported by additional investors including Inner Loop Capital, MetroSITE Group, Prelude, Sorenson Capital, and Strategic Cyber Ventures.
– Founded in 2018, Evo Security provides cloud-based multi-factor authentication (MFA) and single sign-on (SSO) technologies to protect MSPs and their SMB customers from cyberattacks.
– Their identity platform helps MSPs eliminate credential sharing, deploy login security at scale, set up administrative permissions, and meet insurance and compliance requirements.
– The company’s end-to-end identity management solution aims to help IT services secure endpoints, network devices, and web applications.
– Evo Security plans to utilize the new funding to accelerate growth, enhance their IAM product portfolio, and expand their market presence.
– CEO Michael Roth expressed gratitude for the support and highlighted the company’s commitment to delivering a consolidated identity and privileged access management platform to their MSP Partners and SMB customers.
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