Cybersecurity Firm Todyl Raises US$50m in Series B Funding
Todyl, the cybersecurity and networking firm serving SMBs has raised US$50m in Series B funding, with lead investment coming from Base10 Partners. Additional investors include Anthos Capital, Tech Operators and StoneMill Ventures.
With its new funding secured, Todyl is better positioned to revolutionise cybersecurity for SMBs via its all-in-one integrated platform designed to give IT professionals the tools, insights and automation needed to defend against ever-changing threats.
Todyl: Meeting the security needs of SMBs
Today, SMBs face sophisticated cyber threats, with fraudsters more technologically enabled than ever to execute malicious attacks on businesses typically underserved in the cybersecurity space.
While most large corporations have robust protections in place for their finances and operations – for SMBs, this comes further down the pecking order of priorities, and/or they are not as aware as they should be about the increasing prospect of a cyber attack.
As large corporations have scaled their cybersecurity efforts, fraudsters have been moving to easier targets in the shape of SMBs to carry smaller, yet more successful attacks on these businesses.
John Nellen, Founder and CEO at Todyl, says: “Small and medium businesses are facing sophisticated cyber threats at an unprecedented frequency. The cost and complexity have kept the capabilities required to defend against ever-changing tactics and adversaries in the hands of large enterprises.
“Our revolutionary, cloud-first platform levels the playing field for businesses of all sizes. We purpose-built our platform to utilise a single agent that delivers the capabilities of multiple-point solutions.
“It’s easy-to-use, cost-effective and modular, empowering IT professionals to effectively prevent, detect and respond to modern threats across their entire environment—SaaS, cloud, data centre, office and remote.”
What SMBs get by partnering with Todyl
Todyl’s all-in-one cybersecurity platform consolidates all aspects of cybersecurity requirements for businesses.
This includes its modules Secure Access Service Edge (SASE), Security Information & Event Management (SIEM), Managed eXtended Detection & Response (MXDR), Endpoint Security (EDR/NGAV), Security Orchestration, Automation & Response (SOAR), and Governance, Risk & Compliance (GRC).
The addition of its SOAR integration supports businesses in their bids to execute rapid, automated response actions across endpoints and Microsoft 365.
Todyl hopes this newly-added module will serve as a springboard for future integrations that support businesses with automation, orchestration and response actions to quickly address threats.
Indeed, the cybersecurity firm’s latest funding will help with the development of new security modules that Todyl can add to its all-in-one platform.
Jason Kong, Partner at lead investor Base10 Partners, adds: “We got excited about Todyl as it has positioned itself as a credible security leader on the same plane as CrowdStrike and others.
“Todyl has demonstrated that it is becoming a meaningful and serious alternative to some of the incumbents in the space.
“The company’s growth and vision has reminded us of Palo Alto Networks, but for an SMB segment that’s been largely ignored by the cybersecurity market up until this point.”
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