Strategic Cyber Ventures Backs Evo Security with a $1M Investment for Identity and Access Management Cybersecurity Solutions Tailored for MSPs

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Oct 03, 2023, 09:10 ET

WASHINGTON, Oct. 3, 2023 /PRNewswire/ -- Strategic Cyber Ventures, a leading cybersecurity-focused venture capital firm, is excited to announce a $1 million dollar investment into Evo Security's latest funding round. Evo Security builds enterprise-grade identity and access management products tailored for IT Managed Service Providers (MSPs). This strategic investment reinforces our commitment to national security by supporting early-stage cybersecurity companies and fostering innovation that secures our nation.

Cybersecurity is national security, and we are a D.C.-based venture capital firm on a mission to find cutting-edge startups that help us make an impact. We go beyond the check to help our founders win by leveraging our industry connections and experience as cybersecurity veterans to fuel their companies from inception to exit.

"The first time I met Chris and Hank at Strategic Cyber Ventures, I knew I wanted to partner with them. Their depth of knowledge, experience, and overall astuteness on all things cyber was an obvious value add," says Michael Roth, Evo Security's Founder & CEO. "I was also impressed with their industry advisors, who were already starting to help us craft ways to up-level before SCV even invested. I'm incredibly grateful and excited for the opportunity to build Evo Security with a security-focused partner like SCV."

Identity and Access Management is quickly becoming one of the fastest growing segments of cybersecurity in the MSP-focused channel given the plethora of compliance, insurance, and regulatory requirements. It is also a core component of almost every cybersecurity framework and certification to ensure proper authentication and access control is managed and verified across critical MSP, and MSP client systems. MSPs are not only challenged with protecting their clients from the most common breaches related to social engineering but are also challenged with protecting themselves.

"We are excited to support Evo Security in their mission to help MSPs make their identity and access management safer," said Hank Thomas, Founder & CEO at Strategic Cyber Ventures. "Their innovative approach to cybersecurity aligns perfectly with our investment strategy, and we believe this partnership will yield significant advancements in the IAM industry."

Strategic Cyber Ventures is thrilled to be a part of Evo Security's journey in being the industry's most trusted IAM company dedicated to developing enterprise-grade, 100% channel focused IAM solutions exclusively for MSPs. We are committed to working closely with the Evo Security team to continue to support their growth and innovation in the cybersecurity industry.

About Strategic Cyber Ventures:
Cybersecurity is national security, and we are a D.C.-based venture capital firm on a mission to find cutting-edge startups that help us make an impact. We go beyond the check to help our founders win by leveraging our industry connections and experience as cybersecurity veterans to fuel their companies from inception to exit.

For more information about Strategic Cyber Ventures and our investment strategy, please visit https://www.scvgroup.com. Connect with us on Twitter @SCV_Cyber to be part of our mission in shaping the future of cybersecurity.

About Evo Security:
Based in Austin, Texas, Evo Security is an identity and access management cybersecurity company that builds enterprise-grade identity and access management products with the MSP in mind. Evo offers two products for MSPs. Evo Secure Login is a product built for both the MSP and their end user clients that offers Multi-Factor Authentication (MFA), Single Sign On (SSO) for Windows and Mac endpoints, web applications, and network devices. Evo Elevated Access is a product built for the MSP use case that allows their service delivery team to access their client devices as an administrator without the need to copy/paste administrative credentials from third party tools.

For more information about Evo Security, please visit https://www.evosecurity.com/ or book a demo here.

SOURCE Strategic Cyber Ventures