2 days ago
Zip raises $13.5 million for SME cybersecurity
Zip Security, a provider of cybersecurity solutions to small and midsized enterprises, tells Axios that it's raised $13.5 million in Series A funding.
Why it matters: All companies face hacking risks, but often only the largest can afford dedicated cybersecurity staffers.
At the same time, some are vendors to Fortune 500 companies and could be held accountable if information gets stolen.
What they're saying: "A solar panel installer in Hawaii was hacked last year," says Josh Zweig, Zip Security's CEO. "It looked like they were emailing their suppliers and telling them to update their ACH information for accounts receivable."
"Their head of security was also their head of engineering — of solar panels ... They eventually came to us, but only after they'd already had to shut down for a week."
Zoom in: Ballistic Ventures led the new round, and was joined by Silver Buckshot, The Chainsmokers' Mantis VC and return investors like General Catalyst, Box Group and Human Ventures.
