South African e-mail and domain security start-up Sendmarc has raised US$7-million (R125-million) in a series-A fundraising round led by Atlantica Ventures.
The round, which was supported by Allan Gray E-Squared Ventures, Fireball Capital, Endeavor Catalyst, 4Di Capital, Kalon Venture Partners, Endeavor Harvest and Alpha Private Capital, will be used to expand Sendmarc’s market and to improve its product.
The company’s CEO and founder, Sam Hutchinson, claimed its solution was used to protect more than 10 billion e-mails from impersonation through phishing and spoofing in 2022.
“With this new funding, we can expand our market-enablement strategy and also continue to improve the product, while remaining hyper-focused on being the best in this specific area of defence,” Hutchinson said in a statement on Monday.
Read: Start-ups in Africa defy funding slump
Subscribers to Sendmarc.com get access to a suite of tools that implement, monitor and maintain global best practices for e-mail and domain security. The company has clients not only in South Africa but also in North America, Europe, Australia and Latin America.
Sendmarc first raised seed capital in January 2020 from Kalon Venture Partners, a Johannesburg-based technology venture capital company. Kalon has subsequently invested follow-on capital in this series-A round. – © 2023 NewsCentral Media
