What Would You Do with $21 Million in Funding?
Call that the million dollar question. Literally. And it’s a question that was raised a lot today as we closed the second tranche of enSilo’s Series A financing, raising a total of $19 million for the round and $21 million in total funding. The second tranche of $9 million was led by Rembrandt Venture Partners with previous investors Carmel Ventures and Lightspeed Venture Partners participating.
Answers that come to mind are customers, product, global expansion, etc. Yes, those all signify goals, but what will eventually lead to our success is employees.
Here’s a short list of the things we have accomplished in just 18 months since we incepted the enSilo concept:
- Research resulted in four patents, while increasing the scope and findings of research. Research encompassed the finding of four 0-days in the Windows Operating System and twenty 0-days in other security products; breakdowns of stealthy malware in sensitive networks such as Moker, and the release of free tools to the benefit of the research community. Our research team presented their findings at various leading conferences such B-Sides, FireEye Cyber Defense Summit and Kaspersky Analyst Summit.
- enSilo’s platform now covers Windows PC (all versions, from Windows XP to Windows 10); Windows Servers (all versions) and OS X
- Expanded our offering to cover VDI environments
- Grew our customer base to nearly 30 deployments, with a major focus on the US market
- Established a technical security community in Asia-Pacific, placing an emphasis on providing the technical know-how and new approaches to combatting advanced threats
We couldn’t achieve any of this without our employees – from our R&D and product teams to our international marketing, sales and customer experience teams.
I know it seems like a cliché to say that a happy employee makes a happy customer. Though the roots of this statement are grounded by deep wisdom. We would have never been able to make any of the above, without our incredibly talented and smart enSilo team members. We want our employees to feel empowered with a deep satisfaction of what they do. It’s they who want to invest in the product so customers get more than what they’ve asked; they’re the ones placing emphasis in customer experience to enjoy a long-lasting relationship with the customer; it’s they who requested investing in the security community since that’s where they come from.
We certainly work hard at enSilo, but we also make sure that our employees enjoy coming to the offices in the morning - whether it’s through a full fridge covering all appetites (vegans, you know who you are…), delicious company syncs and fun company events (you’re welcome to check out our Facebook page!). We also get it when our employees need the downtime at home or fulfil that dream of bear-watching in Alaska.
A question that a journalist recently asked me was why we raised our Series A in two tranches.
This structure was planned and thought through following the start-up, VC and market eco-system. By working through an up-round, you work on small chunks of funding over time, 2 tranches as in our case, that accumulate to the wishful total sum. Successful execution of such a structure assures retaining more of the company’s holdings in the hands of the employees since the up-round takes away smaller holdings than when raising all the funds in one go. From the investors’ point of view this structure allows ongoing reevaluation and reassurance of their investment. Raising funds in that manner reflects my belief in the company and the people building it.
Those $21 million will be invested in our employees - hiring across operations, marketing and sales so our folks know they can rely on their colleagues and achieve greater heights; providing the team the right tools and resources as they work with customers; emphasizing research to ensure that we’re always on track with the threat landscape; and empowering our engineers to support expanded offering.
Cheers to all.
And yes, we are constantly on the lookout for new hires that enjoy what they do, show respect to one another, and always looking for ways for self- and professional-development. Check out the list of our open positions.