Devicie secures AU$14 million in latest funding round
Devicie, the secure end-user device management Australian software company, announced that it has raised $14 million AUD in a Series A round. The round was led by New York-based private equity and venture capital firm Insight Partners, with participation from leading Australian cyber security services provider CyberCX.
Devicie raised $1.3 million in seed funding from angel investors and CyRise, the cybersecurity venture accelerator program.
The Series A capital injection will turbocharge customer expansion in the US, UK and EMEA and enable Devicie to double the size of the team over the next year. Devicie will stay headquartered in Australia and support a remote expanded workforce.
The company automates layered device security and management to ensure ongoing protection and a productive user experience for employees and teams. Gaps in end-user device management is the biggest hole in businesses' cybersecurity defences, causing the proliferation of ransomware attacks, according to the company.
To combat this, Devicie's SaaS offering deploys and manages hundreds of security controls and automates ongoing application and software updates. This enables 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 cyber attacks occur through employees' devices. Our mission is to make layered security on end-user devices effortless for IT teams, enabling them to deliver great work experience for their organisation.
Martin says, “We are delighted to receive this funding from Insight Partners and CyberCX to accelerate our expansion into the US, UK and EMEA and help organisations and their people create a secure technology 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 organisations globally.
"Using automation, we support IT teams to rapidly uplift 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 novel approach to end-user device management, built around the Microsoft Intune ecosystem with a security-centric mandate from the start. Devicie has quickly made a name for itself within the industry.
"With the heightened risk of cyber-attacks from global bad actors seeking to exploit current tensions, Devicie is a mission critical solution across enterprises and managed service providers. We look forward to working with the Devicie team as they continue to expand and scale up.
John Paitaridis, CEO at CyberCX says, “The Devicie team have developed an exceptional product, attuned to the needs of the market and with the potential to vastly improve cyber security outcomes for customers across the globe.
"As the region's leading cyber security services provider, CyberCX is committed to backing innovative Australian cyber security technology companies like Devicie to grow, accelerate and blaze a trail into overseas markets.
Devicies customers include PointsBet, John Holland and Nine Network. Devicie partners include Microsoft, CyberCX, Crayon, Somerville Group and VITCS.