Michigan-based cybersecurity firm Aadya Security has raised $5m in a Series A funding round, led by Left Lane Capital, with additional participation from 645 Ventures, Gaingels, Firebrand Ventures, and Invest Detroit. The total raised by the firm now exceeds $13m.
Founded in 2019, Aadya offers an all-in-one cybersecurity solution designed to help small and mid-sized businesses (SMBs), managed service providers (MSPs), and managed security service providers (MSSPs) remain protected and compliant with regulations.
The solution, called Judy, leverages machine learning and artificial intelligence to protect data, devices, and sensitive information, while streamlining security through automation.
Judy provides capabilities such as DNS filtering, secure authentication, EDR, threat detection and remediation, and compliance management and reporting, and supports security training. Aadya plans to use the new investment to expand its sales team, grow its channel program for MSPs, and expand its SMB market share.
CEO Raffaele Mautone said that the company had spotted an opportunity to help a segment that “comprises the majority of economic activity, not just in North America, but across the globe”.
He added that the firm aimed to create “something innovative, but something that could truly help” SMBs.
According to a report by CNBC, SMBs are more likely to experience cyber attacks than larger companies, with one in three SMBs falling victim to a cyber attack. The same report cited a study by the Ponemon Institute, which found that the average cost of a data breach for SMBs was $3.86m.
The report also noted that only 14% of SMBs have the necessary in-house expertise to deal with cyber security. This is where Aadya’s solution comes in, offering an all-in-one cybersecurity solution specifically designed to meet the needs of SMBs, MSPs and MSSPs.
