Axoflow, a cutting-edge cybersecurity startup, announced today that it has raised a $7m seed round.
The funding was led by EBRD Venture Capital, with significant reinvestments from existing partners Credo Ventures and e2vc. This reaffirms the market’s confidence in Axoflow’s mission and its future growth trajectory.
The company, which specializes in enhancing how enterprises manage security data, secured this investment to expand its groundbreaking security data curation pipeline. This system is designed to significantly improve data quality and reduce costs associated with security information and event management (SIEM) systems, all without the need for coding.
Axoflow is spearheaded by Balázs Scheidler, who is renowned for developing the industry-standard open-source project, syslog-ng. Under his leadership, the company focuses on delivering high-quality security data, which is essential for efficient operations within enterprise Security Operations Centers (SOC).
The Axoflow Platform automates the discovery, classification, parsing, normalization, and enrichment of security data, reducing its volume by more than 50%. This reduction leads to substantial cost savings. The platform supports a wide range of security data sources, including syslog, which often comprises over half of all security data in SOCs.
Balázs Scheidler, CEO of Axoflow, commented on the importance of data quality: “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.”
EBRD Venture Capital’s Yalcin Gungoren expressed his excitement about the partnership: “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.”
In the past, Axoflow has also gained trust from large enterprise customers and is ideally positioned to serve hybrid enterprises that are optimizing their security data pipelines, whether in the cloud, on-prem, or in air-gapped environments.
With the new funding, the company plans to accelerate its product development and strengthen its market presence. The benefits of Axoflow’s solutions will be showcased at the upcoming RSA Conference and the Gartner Risk and Security Summit, where SOC teams can witness firsthand how the enhanced data quality and automation of their data pipeline can improve their operations.
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