Cybersecurity firm Cyvatar set up by Fareham entrepreneur revolutionises industry and pulls in more than $12m in funding in just eight months
A TECH company is revolutionising the cybersecurity industry by offering monthly subscriptions – and it says protecting your business is as easy as signing up to Netflix.
Cyvatar offers products and services to business to protect from online attacks.
For a company that is only 18 months old, Cyvatar has already grown rapidly in both the USA and UK – and it has pulled in more than $12m in funding in just eight months.
Plus it already has more than 150 members signed up.
The firm was set up by Craig Goodwin, from Fareham.
Craig, co-founder of Cyvatar, said: ‘Think Netflix for cybersecurity. We are making cybersecurity effortless for all.
‘Previously, it was a really complex and expensive undertaking to protect any business from the constant threat of cyber-attacks, particularly ransomware.
‘Becoming a member of Cyvatar means that companies of any size can consume cybersecurity products and services wrapped in cost-effective monthly subscriptions, that actually work to keep your company secure.’
The 37-year-old, who works alongside his fellow co-founder Corey White, recognised a gap in the cybersecurity market for a service offering a monthly subscription.
He said Cyvatar fulfils companies cybersecurity needs all in one single monthly payment.
Craig said: ‘We have found a better and more efficient way of democratising cybersecurity. Once businesses see the value, they never go back.
‘We are expanding further into the UK and Europe, and our customer base is set to triple over the next year.’
Cyvatar’s headquarters are based in Orange County in California, where co-founder Corey is based.
Its unique selling point of providing an ‘all-in-one’ cybersecurity solution has encouraged companies to help fund Cyvatar’s expansion.
It has been backed by several investors. In September 2020, it received $3m from Bill Wood Ventures. It also then received a further $9m in July 2021 from ATX Venture Partners.
Chris Shonk, partner at ATX Venture Partners, said: ‘We’ve seen fundraising explode in the security space, in part as a result of the raft of ransomware, email compromise, and phishing attacks that have made people more aware of the problem and increased the need to fix it quickly and effectively.
‘Cyvatar is an exciting addition to our dynamic portfolio and a natural fit alongside our other rapidly growing organisations. No other company we evaluated solves the problems of cybersecurity like Cyvatar. With Cyvatar CSaaS, security becomes as effortless as turning on the lights.’
The team, which consists of around 25 people so far, is spread across the UK and USA.
For more go to cyvatar.ai/.