Sendmarc, a cybersecurity email protection and compliance startup has raised an undisclosed amount of funding in an investment round led by Kalon Venture Partners with contribution from Endeavour South Africa’s Harvest venture Capital II fund. The latest round of funding will be used to expand and grow the tech startup’s footprint both locally and internationally.
Founded by entrepreneurial trio Sam Hutchinson, Keith Thompson and Sacha Matulovicg, the tech startup focuses on creating a safe and secure email environment for small to large businesses in South Africa.
Launched in 2018, Sendmarc provides the setup, implementation and reporting functionality for a global email protection standard known as Domain Message Authentication, Reporting and Conformance (DMARC).
DMARC has been created to provide email domain owners the ability to protect their domains from unauthorized use such as email spoofing or impersonation attacks. Implementing the standard helps protect one’s domain name from scammers stealing the domain name to send hoax emails to companies’ clients, suppliers, or networks. Sendmarc’s services enables businesses safeguard their customers, suppliers and themselves as well from email cyber-attacks.
The startup has experienced a significant growth since its launch, processing 400 million emails per month and growing by 30% monthly. Customers include 35 JSE-listed companies as well as some international clients. Sendmarc plans to scale more quickly with the additional investment.
Endeavor South Africa’s Harvest Venture capital II fund has a strong social impact mechanism as 20% of the carry is reinvested back into the ecosystem. This means that as companies like Sendmarc perform, a portion of this gain will be shared back into the South African entrepreneurial ecosystem, to help grow the next set of high-impact entrepreneurs.
The impact of the funds is expected to be multiplicative over time. Over the past two years, Endeavor South Africa’s portfolio of 28 firms collectively generated R2-billion in revenue and created more than 4 600 jobs.
Sendmarc is enabling companies make their own domain more reputable within the market, as well as improving their own email delivery and security.