In an era where cyberthreats are becoming increasingly sophisticated and frequent, small and medium-sized businesses (SMBs) often find themselves outgunned and ill-equipped to defend against these ever-changing adversaries. However, Todyl Inc., a networking and cybersecurity startup, is on a mission to level the playing field. The company has recently secured $50 million in Series B funding, led by Base10 Partners, with participation from existing investors Anthos Capital, Tech Operators, and StoneMill Ventures.
This latest investment round brings Todyl’s total funding to an impressive $83.8 million, following a successful $28 million Series A round in 2022. With this infusion of capital, the company is poised to accelerate its growth, expand its global presence, and continue developing its cutting-edge, all-in-one modular platform.
Founded in 2015, Todyl’s vision is to empower SMBs with enterprise-grade cybersecurity capabilities that were once exclusively available to large corporations. The company’s cloud-first platform unifies multiple cybersecurity segments, including secure access, edge security, security information and event management (SIEM), managed extended detection and response (MDR), endpoint security, security orchestration, and governance, risk, and compliance.
What sets Todyl apart is its innovative single-agent and modular approach. By consolidating all of its capabilities into a single agent, the platform eliminates resource competition and ensures optimal performance, providing a seamless user experience. Customers can easily pick and choose the features they need through a user-friendly drag-and-drop interface, creating a tailored networking and security stack that automatically updates with new capabilities without the need for redeployment.
Recently, Todyl added Security Orchestration, Automation, and Response (SOAR) to its technology stack, enabling it to automate responses and handle the remediation of common security threats, while rapidly escalating uncommon or unknown threats to the security team with necessary metrics for swift action.
With the new funding, Todyl plans to expand its team, establish more global office locations, and invest further in engineering to enhance its networking and cybersecurity capabilities. The company is poised to revolutionize the way SMBs approach cybersecurity, providing them with the tools and resources they need to protect their digital assets and stay ahead of the ever-evolving threat landscape.