Sydney, Nova Scotia-based cybersecurity technology company Securicy has raised $1.8 million in financing.
Private backers of the round, including Hub Angels, Panache Ventures, Concrete Ventures, Innovacorp and U.S. angel investors, committed $1.2 million. Federal and provincial government sources accounted for the rest.
Securicy is a software-as-a-service provider that specializes in helping small and medium-sized organizations achieve and maintain information security and privacy compliance.
Founded in 2016 by CEO Darren Gallop and COO Laird Wilton, the company previously secured about $655,000 (US$500,000) in a pre-seed round.
A story by Entrevestor’s Peter Moreira sheds additional light on Securicy and its latest financing.
Photo: Darren Gallop, co-founder and CEO of Securicy.
PRESS RELEASE
SaaS Company Secures $1.8 Million Dollar Financing Round
July 8, 2019
SYDNEY, NS, CANADA – Information Security company secures $1.8 million financing round and lands a spot in the Top 25 up-and-coming Canadian ICT companies.
$1.2 million was raised through private investors including Hub Angels, Panache Ventures, Concrete Ventures, Innovacorp and several prominent angel investors from the Boston, MA area. The remaining $600,000 was secured through federal and provincial sources. “Securicy’s platform has navigated companies through the security requirements of large corporations such as Target, Netflix, Lyft, Salesforce, and National Bank. It’s deeply satisfying to see our customers efficiently tackling complex security assessments, building trust with their customers and winning big business,” says Securicy Co-Founder Laird Wilton.
The growth of Securicy has also impressed investor David Verril, Founder/Managing Director at Hub Investment Group, LLC, “we are seeing many startups and SMEs struggle with information security compliance issues (security questionnaires, SOC audits, government regulations) without the internal capabilities to meet these new demands. The Securicy leadership team has the unique experience of living in the startup space, feeling the pain of compliance and developing a simple, pragmatic, and automated approach to solving that pain.”
Securicy began to onboard beta users immediately after completing the 2018 TechStars Boston program; raising an unannounced $500,000 USD pre-seed. Now three months after launch, Securicy is used by SaaS companies from coast to coast in North America. Verril goes onto say “this is our first investment outside of the US, so we took our time assessing and determining that Securicy’s unique approach to the problem is the most innovative and efficient solution we have seen in North America.”
The Branham Group has announced Securicy as one of their Top 25 Up-and-Coming ICT Companies in Canada. The list recognizes promising young companies based on creativity and innovation, rather than revenues, and is part of the Branham 300, a program that ranks Canadian tech companies in a variety of categories. Securicy Co-Founder Darren Gallop sums it up, “to go from losing the biggest deal of our careers less than three years ago at my previous startup to now closing the biggest deals of our careers with Securicy is an accomplishment I could not be more proud of.”
Securicy is a SaaS company that specializes in making it easy for businesses to achieve and maintain information security and privacy compliance. Founded in 2016, Securicy is building trust between businesses and their customers in a world where people want to know their confidential information is protected. For more information visit: https://www.securicy.com
Darren Gallop
CEO & Co-Founder, Securicy
darren@securicy.com