South African-based cybersecurity startup Sendmarc has secured an undisclosed amount of funding in an investment round led by Kalon Venture Partners with contribution from Endeavor South Africa‘s Harvest venture Capital II fund.
Clive Butkow the CEO of Kalon Venture Partners comments on the funding round injected into the innovative local tech startup.
“Having Endeavor on board really validates the problem that Sendmarc is solving and provides the team access to their global network of entrepreneurs and investors.”
According to reports, the latest round of funding will be used to expand and grow the tech startup’s footprint both locally and internationally.
Sam Hutchinson, CEO of Sendmarc provides further insight.
“The latest round of funding gives us a great runway to supercharge our growth path both in South Africa and internationally. We welcome the support and continued commitment of the Kalon team and are really excited to have the Endeavor SA’s Harvest Fund on board not just as strategic investors, but as co-investors too.”
Sendmarc
Founded in 2018, Sendmarc is a cyber-security email protection and compliance tech startup. Established entrepreneurial trio Sam Hutchinson, Keith Thompson, and Sacha Matulovich, the tech startup aims to create a safe and secure email environment for small to large businesses in South Africa.
The tech startup provides the setup, implementation, and reporting functionality for a global email protection standard known as Domain Message Authentication, Reporting, and Conformance (DMARC).
DMARC has been designed to provide email domain owners the ability to protect their domains from unauthorised use such as email spoofing or impersonation attacks. Implementing the standard helps protect one’s domain name from scamsters stealing the domain name to send hoax emails to companies’ clients, suppliers, or networks.
Sendmarc’s service enables businesses to protect their customers, suppliers, and themselves from email cyber-attacks. The tech startup claims to have experienced significant growth since its launch, processing 400-million emails per month on its platform and growing by 30% each month.
Harvest Fund II
Endeavor South Africa’s Harvest Venture capital II fund has a strong social impact mechanism as 20% of the carry is reinvested back into the ecosystem. This means that as companies like Sendmarc perform, a portion of this gain will be shared back into the South African entrepreneurial ecosystem, to help grow the next set of high-impact entrepreneurs.
According to reports, the impact of the fund is expected to be multiplicative over time. Over the past two years, Endeavor South Africa’s portfolio of 28 firms collectively generated R2-billion in revenue and created more than 4 600 jobs.
