Evo Security, an early stage startup working on Identity and Access Management (IAM) solutions for MSPs, has raised $6 million in a Series A funding round that brings the total raised to approximately $15 million.
The investment round was led by TechOperators, with additional support from Inner Loop Capital, MetroSITE Group, Prelude, Sorenson Capital, and Strategic Cyber Ventures.
Founded in 2018, the Austin, Texas-based security-as-a-service (SaaS) company provides cloud-based multi-factor authentication (MFA) and single sign-on (SSO) technologies to protect MSPs and their small-to-medium sized business (SMB) customers from cyberattacks.
According to Evo Security, its identity platform helps MSPs eliminate credential sharing, deploy login security at scale for their customers, set up administrative permissions, and meet insurance and compliance requirements.
The company says its end-to-end identity management solution can help IT services secure endpoints, network devices, and web applications alike.
Evo Security will use the new funding to accelerate growth, improve its IAM product portfolio, and expand its market presence.
“This investment is a testament to the hard work and dedication of our team and the trust our MSP Partners place in us. With TechOperators’ support, we are well-positioned to advance our mission of delivering a market leading, consolidated identity and privileged access management platform to our MSP Partners and their SMB customers,” Evo Security CEO Michael Roth said.
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