Kalon Venture Partners infuses more capital in Sendmarc
Venture capital firm Kalon Venture Partners has infused follow-on investment into cyber security start-up Sendmarc.
Eight months ago, Kalon picked up a stake in Sendmarc, saying the start-up’s disruptive technology solves big business problems in a growing market of cyber security threats.
Sendmarc is one of the leading cyber security e-mail protection and compliance companies, with ambitions to scale globally, says Kalon.
It provides the setup, implementation and reporting functionality for a global e-mail protection standard known as DMARC (Domain-based Message Authentication, Reporting and Conformance).
The company says this protocol is designed to give e-mail domain owners the ability to protect their domains from unauthorised use, such as impersonation attacks or e-mail spoofing.
Sendmarc’s revenue has grown at an average of 30% month-on-month since January and it processed circa 400 million e-mails per month on its platform, Kalon notes.
In addition, Sendmarc says, it has grown its customer base 14 times during the last 14 months, citing 35 JSE-listed companies as customers, as well as some international clients.
Commenting on the latest deal with Kalon, Sam Hutchinson, CEO of Sendmarc, says: “We welcome the support and continued commitment of Clive Butkow and the Kalon team. Sendmarc looks forward to further expanding our team and scaling the Sendmarc business into global markets.”
Kalon Venture Partners CEO Clive Butkow says he invests in the best teams that are building innovative scalable technology, and the Sendmarc team ticks all of these boxes.
“They continue to show exceptional leadership ability while building on outstanding tech innovation and showing exceptional growth in revenue.
“This follow-on round is testimony to the Sendmarc team’s ability to deliver a solution solving a large problem across industries. Sendmarc is the solution that makes the Internet a safer place, and prevents phishing and spoofing, which reduces the cloning of e-mails for malicious intent. A very real threat, and an essential and much-needed security solution for every business.”
Sendmarc was founded in 2018 by Hutchinson, Keith Thompson and Sacha Matulovich.