Devicie secures A$14m in latest funding round

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Devicie, the Australian secure end-user device management software company, announced that it had raised A$14 million in a Series A round. The round was led by the private equity firm and New York-based venture capital firm Insight Partners, with participation from leading Australian cybersecurity services provider CyberCX.

Devicie raised $1.3 million in seed funding from angel investors and CyRise, the cybersecurity accelerator program.

The Series A capital injection will boost customer expansion in the US, UK and EMEA and allow Devicie to double the size of the team over the next year. Devicie will remain based in Australia and support an expanded remote workforce.

The company automates security and device management in layers to ensure continuous protection and a productive user experience for employees and teams. Gaps in the management of end-user devices are the biggest hole in companies’ cybersecurity defenses, causing ransomware attacks to proliferate, according to the company.

To combat this, Devicie’s SaaS offering deploys and manages hundreds of security controls and automates continuous application and software updates. This allows IT teams to regain control and visibility of otherwise time-consuming and costly manual configurations and updates and provides employees with the secure and seamless device experience they want and expect.

Martin McGregor, CEO and co-founder of Devicie, says: “Currently, 90% of cyberattacks occur through employee devices. Our mission is to make layered security on end-user devices effortless for IT teams, enabling them to deliver a great working experience to their organization.

Martin said, “We are delighted to receive this funding from Insight Partners and CyberCX to accelerate our expansion in the US, UK and EMEA region and help organizations and their employees create a secure, technological environment. regardless of where they work.

“With the increased focus on compliance and critical industries, device management remains one of the most commonly exploited vulnerabilities for organizations globally.

“Through automation, we help IT teams rapidly elevate their security maturity in a way that enables employee productivity and operational efficiency for the entire business.”

Philine Huizing, Principal at Insight Partners comments, “Devicie has taken a new approach to end-user device management, built around the Microsoft Intune ecosystem with a security-centric mandate from the start. Devicie quickly made a name for themselves in the industry.

“With the increased risk of cyberattacks from global malicious actors seeking to exploit current tensions, Devicie is a mission-critical solution for enterprises and managed service providers. We look forward to working with the Devicie team as may it continue to grow and grow.”

John Paitaridis, CEO of CyberCX, said, “The Devicie team has developed an exceptional product, tailored to market needs and with the potential to dramatically improve cybersecurity outcomes for customers around the world.

“As the region’s leading cybersecurity service provider, CyberCX is committed to supporting innovative Australian cybersecurity technology companies like Devicie to grow, accelerate and lead the way in overseas markets.”

Devicies customers include PointsBet, John Holland and Nine Network. Devicie partners include Microsoft, CyberCX, Crayon, Somerville Group and VITCS.

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