Security data curation platform Axoflow on Wednesday announced raising $7 million in a seed funding round that brings the total raised by the company close to $10 million.
The investment round was led by EBRD Venture Capital, with additional funding from previous investors Credo Ventures and e2vc.
Founded in 2023, the Hungarian-founded, US-based startup relies on automation for security data curation, providing an end-to-end pipeline for the collection, management, and ingestion of security data.
Axoflow’s vendor-agnostic solution transforms the data in the pipeline, resulting in a destination-optimized data model that is immediately actionable. It can be used as a SaaS product, deployed on premises, or used in air-gapped conditions.
According to the company, its platform can significantly increase the quality of security data, resulting in improved detection and response, while also ensuring compliance and reducing costs.
Axoflow says its solution automatically discovers security data sources (such as syslog, OpenTelemetry, Windows, and more) and then classifies, normalizes, and enriches the data, reduces data volume by more than 50%, and eliminates the need for manual data wrangling.
The company will use the new funding to accelerate the development of its pipeline, aiming to make the platform generally available by August 2024. The company will also invest in strengthening its market presence.
“We firmly believe that in addition to people, high-quality security data is what makes enterprise Security Operations Centers (SOC) more efficient, regardless of whether the team does the heavy lifting manually, using AI, or with analytics engines,” Axoflow CEO Balázs Scheidler said.
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