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Cavelo Inc. Raises CAD$5M to Advance Cybersecurity Solutions

Funding | Nov 10, 2023

Cavelo logo - Cavelo Inc. Raises CAD$5M to Advance Cybersecurity Solutions

Cavelo Inc., a leader in attack surface management technology, has successfully secured CAD$5M in venture capital financing, led by Inovia Capital with contributions from Graphite Ventures.

A Comprehensive Cybersecurity Solution

Cavelo's platform aligns with stringent data privacy and security regulations like GDPR and HIPAA, simplifying compliance and risk management. The platform's effectiveness is echoed by customers like William Ercolano, Vice President of Client Technology at ECI, who praised its ability to intelligently present data leakage risks.  Despite market challenges, Cavelo has achieved a notable 272% year-over-year revenue growth.

Taha Mubashir, Principal at Inovia Capital:

"Cavelo represents the future of cybersecurity investments. Their customer-first approach and commitment to innovation in attack surface management are driving significant growth."

See:  Blakes: Cybersecurity Trends in Canada: A 2023 Perspective

James Mignacca, Founder and CEO of Cavelo, highlights the platform's design, focusing on customer needs in an era of increasing digitalization and cloud service adoption.

"Our success is a direct result of our customers' trust. The Cavelo platform is a turnkey product that mitigates risk and exposure by identifying sensitive data, its location, access, and prioritizing software vulnerability remediation."

This investment marks a significant milestone for Cavelo, enabling it to enhance its support for customers and channel partners in navigating the evolving cybersecurity landscape.  View the original press release here.

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