Axoflow, a cybersecurity startup transforming how enterprises collect and handle security data, announced it raised a $7 million seed round led by EBRD Venture Capital. And all existing major investors, Credo Ventures and e2vc, have increased their stakes in the company, reaffirming their belief in Axoflow’s mission.
This new funding will further develop Axoflow’s pioneering security data curation pipeline while improving security data quality and reducing associated costs without the need to write code. In short, it makes high-quality security data more accessible for better detection, response, AI, and compliance.
Axoflow’s founders – led by Balázs Scheidler, creator of the open-source project syslog-ng – believe it’s high quality security data that makes enterprise Security Operations Centers (SOC) more efficient.
Axoflow Platform eliminates the need for manual and code-heavy data wrangling by offering a pipeline that automatically handles data from a broad array of security sources, including syslog, which can still account for over half of all security data.
Trusted by large enterprise customers, Axoflow is well-positioned to serve hybrid enterprises looking to optimize their security data pipelines either in the cloud, on-prem, or air-gapped environments.
With the new funding round, Axoflow will further accelerate product development and strengthen its market presence.
KEY QUOTES:
“I’ve spent decades in cybersecurity and seen firsthand how poor data quality undermines even the most advanced security initiatives. Axoflow Platform productizes our know-how into a pipeline that automatically discovers, classifies, parses, normalizes, and enriches security data—and also reduces its volume by more than 50%, leading to significant cost-savings.”
“Harnessing our team’s extensive knowledge from creating and maintaining syslog-ng, our product has built-in alerting and monitoring capabilities, preventing the surprisingly common ‘invisible data loss’. This is considered table-stakes by compliance teams in highly regulated enterprises.”
– Balázs Scheidler, CEO of Axoflow
“Enterprises are facing increasingly sophisticated cyberthreats and grappling with rapid growth in security data as their environments become more complex. Axoflow provides the intelligence layer that empowers cybersecurity professionals with greater control and visibility over their environments. The Axoflow Platform not only modernizes the security data layer and reduces costs but also strengthens the overall security posture. We feel privileged to join Axoflow’s deeply technical and seasoned team on this exciting journey,” added Yalcin Gungoren.
– Yalcin Gungoren at EBRD Venture Capital
