Last, week, cybersecurity provider Todyl made a huge announcement – a $50 million-sized announcement, specifically:
The company officially closed a $50 million Series B investment round.
That’s the what of this news.
Let’s also cover more of the who, as well as the why.
In support of Todyl, this funding round was led by Base10 Partners with participation from Anthos Capital, Tech Operators Venture Capital, and StoneMill Ventures. These four investors share a key common denominator – each, through their respective methods, partners and invests with innovative technology companies looking to create impactful cybersecurity and B2B software solutions that actively (and often disruptively) shape the future of business technologies.
Naturally, Todyl is one such purveyor of these solutions.
According to the announcement, Todyl is the “world’s leading SMB cybersecurity platform, uniquely consolidating Secure Access Service Edge (SASE), Security Information and Event Management (SIEM), Managed eXtended Detection and Response (MXDR), Endpoint Security (EDR/NGAV), Security Orchestration, Automation and Response (SOAR), and Governance, Risk and Compliance (GRC).”
That’s a lot filling one collective bucket, so to speak, but Todyl is making it happen.
These funds are expected to fuel Todyl’s ongoing M.O.; hone its all-in-one security platform to further empower IT professionals with the wieldable tools, insights and automation capabilities required to defend against the shape-shifting threat landscape that every SMB – MSPs, CSPs and so on – should be wary of.
Per John Nellen, Todyl’s founder and CEO:
“SMBs are facing sophisticated cyber threats at an unprecedented frequency. The cost and complexity have kept the capabilities required to defend against ever-changing tactics and adversaries in the hands of large enterprises. Our revolutionary, cloud-first platform levels the playing field for businesses of all sizes. We purpose-built our platform to utilize a single agent that delivers the capabilities of multiple point solutions. It’s easy-to-use, cost-effective, and modular, empowering IT professionals to effectively prevent, detect, and respond to modern threats across their entire environment — SaaS, cloud, data center, office and remote.”
And from Base10 Partners’ Jason Kong:
“We got excited about Todyl as it positioned itself as a credible security leader on the same plane as CrowdStrike and others. Todyl has demonstrated that it is becoming a meaningful, versatile and serious alternative to some of the incumbents in the space. The company’s growth and vision has reminded us of Palo Alto Networks, but for an SMB segment that’s been largely ignored by the cybersecurity market up until this point.”
Additionally, Austin McChord, founder and former CEO of Datto, will be joining Todyl’s Advisory Board, bringing with him a wealth of knowledge that will likely benefit Todyl’s strategic direction greatly. (For context, under McChord’s 11-year run at Datto, he helped grow the company into a $1 billion industry name.)
“Todyl’s unique platform is an MSP-first, channel-prioritizing toolkit for addressing SMB security challenges efficiently and effectively,” said McChord. “I’m looking forward to helping them progress the vision and accelerate growth.”
Edited by
Greg Tavarez
