Funding led by Rally Ventures will further accelerate Ostra's rapid growth with investments in numerous customer-facing areas of the business.
MINNEAPOLIS, April 9, 2024 /PRNewswire-PRWeb/ -- Ostra Cybersecurity, a company whose holistic and fully managed Security as a Service is revolutionizing how cybersecurity is delivered to small and mid-sized businesses, announced the completion of its Series A funding.
The Series A funding, of more than $4 million in total, was led by Rally Ventures, with participation from founding investor Jeff Cowan. To date, Ostra has raised $10 million from investors, with most funds coming in the past 18 months based on the rapid rise in demand for a complete managed offering tailored to small and mid-sized business (SMBs).
This latest funding news follows on the heels of Ostra's recent announcement that Andrew Tewksbury is the company's new CEO. Together, these developments will enable Ostra to accelerate its growth while leveraging a channel first model to fulfill its mission of protecting SMBs.
"Today, it's no longer optional for businesses of all sizes to secure their systems and data," Tewksbury said. "This latest funding will help us fast-track some key business development and operational initiatives to expand our quickly growing channel partner program and protect a gaping hole in cybersecurity for all SMB clients."
The most recent round of funding will help fuel Ostra's go-to-market engine. The company plans to nearly double its customer-facing teams in areas such as account management, channel marketing, customer success, and support. Ostra will also continue to build its US based team in channel partner recruitment and support, based on the momentum generated by ongoing initiatives to attract MSPs and others within the partner community.
"The addition of Andrew Tewksbury strengthens an already exceptional executive team with decades of experience in cybersecurity and strategic operations," said Michael Jennings, Venture Partner at Rally Ventures. "Ostra fills a crucial gap in the industry for SMBs at a time when change is not just necessary, but inevitable. We're excited to continue supporting Ostra's journey and confident their service will be the go-to solution for SMBs seeking to keep their systems and data secure from cybercriminals."
About Ostra Cybersecurity
As Your Trusted Cybersecurity Team (TM), Ostra makes cybersecurity simple and accessible to businesses of all sizes. Ostra provides its partners and their clients with multi-layered, comprehensive, and fully managed Security as a Service. Ostra's proprietary solutions combine Fortune 100-caliber tools, tech, and talent to ensure threats are not only detected and hunted, but also fully remediated.
With a mission to simplify cybersecurity for small to mid-sized businesses, Ostra believes everyone deserves best-in-class data protection—not just big business. For more information, visit www.ostra.net.
About Rally Ventures
Rally Ventures invests exclusively in early-stage business technology companies, focusing on entrepreneurs creating major new markets or bringing transformative approaches to existing ones. Since 1997, Rally Ventures' partners and venture capital industry veterans have invested in or run early-stage enterprise business-to-business technology companies with a proven ability to deliver superior returns regardless of the overall market environment. For more information visit rallyventures.com.
Media Contact
Stacey Kusnier, Ostra Cybersecurity, 1 (952) 866-1817, [email protected], https://www.ostra.net/
Rachel Subasic, Rally Ventures, [email protected], https://www.rallyventures.com/
SOURCE Ostra Cybersecurity
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