The funding round was led by Glilot+, with participation from ClearSky, Hanaco Ventures, iAngels, and GKFF Ventures. The company's valuation has not been disclosed, but it has tripled since its last fundraise, a $10 million seed round. Guardz aims to fill a gap in the market by providing robust security for SMBs, which have become a significant target for cybercrime due to advances in AI. The platform uses AI-based automation to detect malicious activity, provide remediation, and write up activity reports.
Key takeaways:
- Guardz, an Israeli startup providing security and cyberinsurance services for small and medium businesses (SMBs), has raised $18 million in a Series A funding round.
- The company, which emerged from stealth mode less than a year ago, has pivoted to work with managed service providers (MSPs) rather than selling directly to SMBs.
- Guardz plans to use the funding to hire more engineering talent and continue evolving its product, which is currently used by around 200 MSPs and 3,000 SMBs, representing some 36,000 seats overall.
- The funding round was led by Glilot+, with participation from ClearSky, Hanaco Ventures, iAngels, and GKFF Ventures. The company's valuation has reportedly tripled since its last fundraise, likely putting it above $100 million.