Abacode, a managed security services provider, raised $4.85 million in a Series A funding round led by Ballast Point Ventures.
The company plans to use the new funds to scale its sales, security operations center, and project execution teams, broaden its marketing efforts and further enhance its technology-enabled service offering.
Abacode proactively monitors, detects, and responds to cyber threats in real-time through its 24/7 security operations center. The company also provides a suite of Governance, Risk, and Compliance Readiness services helping companies prepare for third-party audits and certifications.
Current and emerging compliance mandates force companies to take a different approach to manage internal data risk, and cybersecurity needs going forward. This reality, combined with the flood of new technology products in the marketplace, has added additional complexity and confusion and is one of the primary reasons organizations are working with Abacode.
“It’s very fulfilling to see so many market-leading companies reach out to us to help them consolidate their cybersecurity programs under one roof. Cybersecurity and compliance isn’t just a component of what we do; it’s our sole focus. We not only help drive enterprise strategy but also deliver and implement the most appropriate services and solutions. This is unique in the market, and the real value is providing client leadership a way to finally make holistic business-driven decisions instead of tactical product-driven decisions,” said Mike Ferris, CEO and Co-founder of Abacode.