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Cybersecurity Funding

Bearer, Notebook Labs, Protexxa Raise Millions in Seed Funding

Bearer, Notebook Labs, and Protexxa, three cybersecurity startups dealing with data security, web3 identity, and enterprise cyber hygiene, respectively, have announced raising a combined total of over $10 million in seed funding.

Bearer, Notebook Labs, and Protexxa, three cybersecurity startups dealing with data security, web3 identity, and enterprise cyber hygiene, respectively, have announced raising a combined total of over $10 million in seed funding.

Bearer, a San Francisco-based company founded in 2018, has received a $4 million investment from Kima Ventures, Partech and Point Nine, bringing the total raised by the company to $8 million.

The startup’s data security SaaS solution helps organizations identify technical and business logic flaws in code during the development cycle, and ensure data security compliance through automation.

Bearer’s solution relies on open source code analysis engines and proprietary heuristics to identify data security risks, proactively monitoring data security policies and prioritizing critical issues for remediation before code is released.

Notebook Labs has announced a $3.3 million seed round led by Bain Capital Crypto, with participation from Abstract Ventures, NFX, Pioneer Fund, Soma Capital, Y Combinator, and several angel investors.

Founded in 2022, the Stanford, California-based firm provides a zero-knowledge identity infrastructure layer to help web3 protocols verify user identity while protecting their anonymity and privacy.

The startup aims to prevent Sybil attacks targeting the blockchain and help advance decentralized finance (DeFi) adoption.

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Notebook Labs plans to use the new funds to expand its development team and scale its infrastructure.

Protexxa, a Toronto-based firm launched earlier this year, has closed a $4 million CAD (~$2.9 million USD) seed round led by BKR Capital, with participation from The Firehood Angels and several angel investors.

The company leverages artificial intelligence to mitigate enterprise cybersecurity risks by addressing human error. Protexxa offers a personalized cybersecurity protection solution that resolves personal cyber hygiene and which is currently being tested across the education, government, and healthcare industries.

Protexxa plans to use the investment to build out its cybersecurity platform, expand globally, and prepare to scale its operations.

Related: Asset Risk Management Firm Sepio Raises $22 Million in Series B Funding

Related: Spyderbat Raises $10 Million for Cloud and Container Security Platform

Related: Arnica Raises $7 Million to Protect Software Developers, Code

Related: Network Security Company Corsa Security Raises $10 Million

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

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