Romanian startup Cyscale secures $410K
Cluj-Napoca-based Cyscale, the first Cloud Management, Security and Compliance company, has raised $410K in a pre-seed round. The funding came from investors SeedBlink and GapMinder VC. The funds will be invested over the next 12 months in the development of the technical and marketing team and sales department. Cyscale has raised a total of $640 in funding over 5 rounds, Crunchbase reports.
Founded in 2018 by CEO Ovidiu Cical, PM Manuela Țicudean and CTO Andrei Milas, Cyscale is a consultancy and development agency helping Enterprises adopt and migrate to the Cloud by providing an Automated Cloud Security Platform. Cyscale is aimed to help companies become more competitive by protecting information. Currently, the startup has more than 50 B2B clients from the field of IT.
The company wants to use the raised funds on its global expansion. The first target countries are the United States, Germany, England and the Netherlands. Also, they plans to reach more than 1,000 clients in 2025. Currently, Cyscale costs about $2.3M, but with the raised money the value is rising to $2.6M.