Sendmarc, a leading provider of email and domain security based in South Africa, has secured US $7 million in a Series A fundraising round to grow its market enablement approach and advance its solution.
Sendmarc protects clients’ email domains and keeps an eye out for attempted misuse to assist them to prevent email impersonation, such as phishing and spoofing, which is where over 90% of cybercrime begins. A set of tools that establish, oversee, and uphold international best practises for email and domain security is available to subscribers.
In addition to stock exchanges, banks, insurance companies, tech companies, retailers, municipalities, law firms, and law enforcement agencies in North America, Europe, Australia, South Africa, and Latin America, the startup actively enforces its email and domain security protection for thousands of businesses worldwide.
Its $7 million Series A investment was sponsored by Allan Gray E-Squared Ventures, Fireball Capital, Endeavor Catalyst, 4Di Capital, Kalon Venture Partners, Endeavor Harvest, and Alpha Private Capital, with Atlantica Ventures serving as the round’s lead investor. With a focus on becoming the best in email and domain security, the money will be utilised to increase market enablement strategy and product development.
“We are proud to have protected over 10 billion emails from impersonation last year,” said Sendmarc CEO and founder Sam Hutchinson. “And 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 defense.”
A principal and co-founder of Atlantica, Aniko Szigetvari, claimed that cybercrime was now a significant disruptor of economic activity in Africa and throughout the world, costing businesses and governments billions of dollars every year in financial loss and reputational damage.
“Atlantica Ventures is supporting African digital security startups and solutions that address this growing issue or pain point. The Sendmarc team is focused on a key area of cybersecurity – email and domain security protection. We are excited to back an exceptional founding team to further support the growth of their product and geographic expansion,” she said.
