VANCOUVER, BC, June 14, 2022 /PRNewswire/ –
CyberQP Cybersecurity, a leading provider of Privileged Access Management and Helpdesk Security Automation for MSPs (Managed Service Providers), announced a new $3 million round of financing in partnership with Arthur Ventures. This completes their Series A round of financing, totaling $7 million.
This round of funding will enable CyberQP to accelerate the company’s efforts to better secure MSPs and their customers with Privileged Access Management and Helpdesk Security Automation.
“We owe our success to the MSP community, especially our Partners,” said Mateo Barraza, CEO and Co-Founder of CyberQP. “Over the past decade, cybersecurity threats have continually expanded downmarket and into the SMB space. Unlike the Enterprise market, the SMB space and the MSPs that serve them have been caught without a well-rounded and mature set of tools to protect themselves. We intend to change this by providing the MSP community with best-in-class cybersecurity tools in the Privileged Access Management and Helpdesk Security Automation areas,” Barraza continued.
“We are excited to partner with Mateo, Jim and the rest of the CyberQP team in support of their mission to deliver the best Privileged Access Management software purpose-built for the MSP market,” said Ryan Kruizenga, Partner at Arthur Ventures. “CyberQP is a perfect fit in our portfolio alongside other fast-growing security companies being built outside Silicon Valley such as Threatlocker, DNSFilter, and Nucleus Security. We look forward to supporting them through this period of hyper growth.”
CyberQP doubled its annual recurring revenue in the past six months and currently has over 400 MSP partners. Their recent success comes after adding multiple key team members for their next stage of growth, including Hossein Rajabi as Director of Customer Experience, Luis Lejter as Director of Engineering, Geoff Bellefontaine as Director of Sales, Robby Singh as Lead Product Owner and Jimmy Hatzell as Director of Marketing.
About CyberQP Cybersecurity
CyberQP Cybersecurity is a leading provider of Privileged Access Management (PAM) and Help Desk Security Automation for MSPs (Managed Service Providers). The CyberQP PAM platform equips MSPs with a way to rotate all their privileged account passwords across AD and Azure AD, inject technician credentials into the most popular RMMs and enforce a zero standing privileges policy across all customers. The Help Desk solution automates the resolution of password reset tickets and uses biometrics to identify who is calling into the help desk.