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Cape Breton Security Firm Lands $4.1 Million in Seed Funding

Cape Breton Security Firm Lands $4.1 Million in Seed Funding

Originally posted on Saltwire.com.

Today, Carbide (formerly Securicy) announced that they have secured another round of seed funding led by new investors Allos Ventures and Build Ventures along with contributions from current investors Concrete Ventures and Hub Angels Investment Group to the tune of $4.1 million.

In 2016, Darren Gallop and Laird Wilton co-founded Carbide in Sydney, Nova Scotia. After the co-founders experienced the cybersecurity challenges startups face first hand, they imagined a new resource dedicated to making enterprise-class security and privacy accessible to any company, no matter their size or resources. Together, Darren and Laird created a platform designed to help businesses navigate the complex process of implementing, maintaining, and demonstrating cybersecurity compliance.

“While information security and privacy reviews have finally become commonplace in larger sales cycles, we still see too much of the industry condoning and even enabling ‘rubber-stamp’-type compliance with SOC 2 and other frameworks,” Darren explained. “A surface-level security posture might get you through a couple deals, but it builds up security debt that leaves you vulnerable to the microscopic scrutiny on third-party vendor security we’re seeing more and more. That kind of setback can kill a company’s growth trajectory.”

By providing a programmatic security foundation that grows with the business, Carbide makes it easy to adhere to and demonstrate compliance with evolving security best practices even when selling into the biggest names in the enterprise.

Read more about the latest round of seed funding in the Saltwire article.