Kolide, an IT security startup based in Boston, has raised $17 Million via a Series B funding round to expand its user-focused endpoint security platform.
Led by OpenView Partners, a Boston-based VC that mainly invests in product-led SaaS B2B companies, the funding round brought the total funding raised by the startup to over $26 million. Existing investors like Matrix Partners also joined the round. Ricky Pelletier, General Partner at OpenView Partners, referred to the firm’s participation by stating:
“At OV, our mission is to improve people’s working lives. Kolide’s Honest Security approach is reshaping the way IT and security teams deploy security and compliance software. Now more than ever, companies are emphasizing, valuing and satisfying their employees. We are seeing consent based IT solutions as necessary to attract the next generation of employees.”
The startup is planning to use the proceeds from this latest fund to fuel the development and expansion of its go-to-market pipeline, while also increasing the size of its workforce by hiring additional engineers and production staff to expand the capabilities of its products.
The platform developed by Kolide allows its users to fix issues that can’t be addressed by traditional endpoint security software. It achieves this by combining high-quality cross-platform visibility and end-user involvement, combining technology and human interaction to revolutionize the industry. Jason Meller, CEO & Founder at Kolide, referred to the increasing demand for such platforms by stating:
“Remote-first has created two new opposing forces. On one hand, IT and Security teams feel they need more visibility and greater control over devices out of their physical reach. On the other hand, employees, now at home, are starting to worry about being inappropriately surveilled, in turn driving them to use unauthorized personal devices for their work. The key to solving both sides of the problem is total transparency.”
With the COVID-19 pandemic shifting the operation of most organizations toward a work-from-home model, new logistical and security challenges have started to emerge. The IT security startup is providing a novel way to address the issues originating from mass migration toward remote work, allowing enterprises and employees to operate more efficiently.