Capital infusion supports company’s mission to transform information security from a risk to a competitive advantage for high-growth SaaS companies
Also – check out our upcoming name change, which we also announced today!
Nova Scotia, Canada – December 21, 2021 –Carbide, an information security and data privacy management platform provider, today announced the company has secured additional seed funding in a $4.1 million round led by new investors Allos Ventures and Build Ventures. Existing investors, including Concrete Ventures and Hub Angels Investment Group, also contributed to the round. A Techstars alum, Carbide guides companies as they establish and grow the robust information security and privacy programs needed to sell into enterprises and highly regulated industries. For more information visit, www.carbidesecure.com.
The capital infusion caps a year marked by 3x customer growth and a doubling in team size. The fully remote company currently has upwards of 20 open career opportunities available.
When targeting enterprise buyers, startups and high-growth organizations face intense scrutiny over their information security and privacy posture. Across all aspects of security and privacy, including company policies and procedures, data handling at both the technical and process levels, and the security architecture of their products, organizations are demanding proof of compliance with industry frameworks and privacy regulations. Few startups have the internal resources or expertise to interpret and address the necessary requirements, leading them to pay for expensive consultants or rely on “checkbox” compliance solutions. Without the policies, procedures, expertise, or resources to sustain a strong security posture, these growing companies risk losing deals to competitors and stalling market momentum.
“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. 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 set back can kill a company’s growth trajectory,” noted Carbide CEO Darren Gallop.
Unlike other products, Carbide’s proven offerings focus on making security and privacy simple, accessible, and sustainable, enabling startups to build security and privacy into their company’s DNA. 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.
“Within our own portfolio of investments, we’ve seen how information security has risen in priority over the past 10 years.” said David Kerr, Managing Director at Allos Ventures. “Carbide makes enterprise-class security accessible to companies of all sizes, enabling them to transform security from a potential liability to a competitive advantage. We’re excited to bring Carbide into the Allos family.”
“The team at Carbide intimately understands both the importance and challenge of prioritizing security at an early-stage company,” said Rob Barbara, General Partner at Build Ventures. “Their ability to translate complex recommendations and requirements into a pragmatic, actionable plan sets them apart from other offerings and really poises them for success.”
To learn more about how we transform information security from a risk to a competitive advantage, visit www.carbidesecure.com.
Carbide simplifies information security and privacy management for B2B software companies selling into large enterprises and highly regulated industries. Customers rely on our platform to provide the structure, guidance, automation, and expertise to turn security from a risk to a competitive advantage, especially as their company grows. Our embedded best practices are explicitly aligned with requirements from nearly a dozen frameworks and regulations, enabling organizations to quickly prove compliance and achieve validation or certification. A TechStars alum, the Carbide team is based across North America. For more information, visit www.carbidesecure.com.