South African cybersecurity email protection and compliance startup Sendmarc has secured funding from Endeavor South Africa as it looks to scale more quickly.
Launched in 2018 by Sam Hutchinson, Keith Thompson and Sacha Matulovich, Sendmarc provides the setup, implementation and reporting functionality for a global email protection standard known as DMARC.
This protocol is designed to give email domain owners the ability to protect their domains from unauthorised use, such as impersonation attacks or email spoofing. By accelerating the implementation of DMARC, Sendmarc enables organisations to protect themselves as well as their customers and suppliers.
Sendmarc first raised funding from Kalon Venture Partners, a South Africa-based Section 12J venture capital company, in January of last year, and the VC firm made the second investment back in April. Endeavor South Africa, a non-profit organisation that identifies and supports innovative, high-impact entrepreneurs in emerging markets to scale, has now joined that round through its fund, Harvest Venture Capital II.
The startup has seen an average of 30 per cent month-on-month growth this year, and is processing around 400 million emails per month on its platform. Customers include 35 JSE-listed companies as well as some international clients. It plans to scale more quickly with the additional investment.
“We welcome the support and continued commitment of the Kalon team and are really excited to have the Endeavor SA’s Harvest Fund on board not just as strategic investors, but as co-investors too,” said Sendmarc chief executive officer (CEO) Sam Hutchinson.
“The latest round of funding gives us a great runway to supercharge our growth path both in South Africa and internationally.”