Sendmarc Secures $7m Series A to Scale its Services Across Africa

Sendmarc Secures $7m Series A to Scale its Services Across Africa

E-mail and domain security startup operating in South Africa, Sendmarc has secured $7 million (R125 million) in a series-A investment round led by Atlantica Ventures.

The funding will be used to grow Sendmarc’s market and enhance its product. It was provided by Allan Gray E-Squared Ventures, Fireball Capital, Endeavor Catalyst, 4Di Capital, Kalon Venture Partners, Endeavor Harvest and Alpha Private Capital.

In addition to stock exchanges, banks, insurance companies, tech companies, retailers, municipalities, law firms, and law enforcement agencies in North America, Europe, Australia, South Africa, and Latin America, Sendmarc also enforces its email and domain security protection for thousands of businesses worldwide.

The software platform used by Sendmarc processes thousands of reports from mail recipients all over the world and converts them into useful actions. The platform allows users to learn more about the conformity, deliverability, and level of threat of mail leaving their domain.

Sam Hutchinson, the CEO, and founder of the business asserted that in 2022, more than 10 billion emails would be protected from spoofing and phishing attacks.

“With this new funding, we can expand our market-enablement strategy and also continue to improve the product, while remaining hyper-focused on being the best in this specific area of defense,” Hutchinson said in a statement on Monday.

About Sendmarc

Sam Hutchinson, Keith Thompson, and Sacha Matulovich established Sendmarc in 2020 with the focus of resolving email impersonation problems experienced by their previous clients. With email impersonation accounting for over 90% of cybercrime activities that end in financial fraud or identity theft, Sendmarc assists its clients in securing their email domains and keeping an eye out for potential abuse. Over $10 billion has been lost by businesses worldwide as a result of compromised business emails.

Currently, Sendmarc serves over 1,000 paying clients from North America, Europe, Australia, South Africa, and Latin America, including South African stock exchanges, law firms, insurance providers, banks, and law enforcement agencies.

By concentrating on go-to-market features, Sendmarc has been able to create a unique path for itself. The company hopes to serve up to 100,000 customers within the next five years and may eventually broaden its product line to include additional impersonation protection features.

A set of tools that implement, monitor, and uphold international best practices for email and domain security are available to subscribers.

Kalon Venture Partners, a technology venture capital firm provided Sendmarc with its initial seed funding in January 2020. Sendmarc intends to use the recent funding to increase its sales team across Africa, the U.S., Europe, and Latin America.