Cybersecurity startup ISV Devicie secures $14 million in Series A round

Sydney-headquartered, cybersecurity startup Devicie has raised $14 million in a series A round.

The funding was led by New York-based private equity firm Insight Partners with further participation from Australian security services company CyberCX.

The latest cash injection would be utilised to support customer expansion for its Microsoft Intune-based, Software-as-a-service offering across the US, UK and EMEA and acquire more remote talents by next year. The company currently has less than 50 employees.

Devicie Co-Founder and Chief Executive Officer Martin McGregor said, “We are delighted to receive this funding from Insight Partners and CyberCX. Currently, 90% of cyber-attacks occur through employees' devices. With the increased focus on compliance and critical industries, device management remains one of the most commonly exploited vulnerabilities for organisations globally.”

CyberCX chief executive officer John Paitaridis added that the company invested in Devicie because it was “an exceptional product, attuned to the market's needs.”

"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,” said Paitaridis.

Devicie has built up clients ranging such as PointsBet, John Holland and Nine Network, and partnered with Microsoft, CyberCX, Crayon, Somerville Group and VITCS.