As digital transformation sweeps through the business landscape, the spectre of cyber threats looms ever large, especially for companies in Latin America, an underserved market facing rising cybersecurity risks.
Notably, the Inter-American Development Bank (IDB) spotlighted a concerning trend that out of 32 Latin American countries, only seven have devised plans to safeguard critical infrastructure. Meanwhile, more than 71% of organizations in the region have reported an upsurge in cyberattacks, notably phishing, ransomware, and malware incidents.
Amid this backdrop, Metabase Q, a cybersecurity solutions firm specializing in safeguarding multinational corporations operating in Latin America, has successfully raised $3 million in Series A funding round. The round which brings its total funding to $8 million will be used to empower businesses in the region to manage, measure, and enhance their cybersecurity defences.
Metabase Q's flagship offering is its Batuta platform, named after the conductor's tool in orchestras. It is designed to orchestrate and streamline the entire cybersecurity workflow offering capabilities from swift deployment to real-time inventory management, comprehensive vulnerability assessment, AI-driven insights, and swift incident response.
The company's remarkable traction is evidenced by a staggering 403% quarter-over-quarter surge in new bookings, underscoring Metabase Q's innovative approach and its pivotal role in shaping the future of the cybersecurity industry.
Metabase Q aims to fortify and expand its capital-efficient operations with freshly secured funds. The company's mission is to redefine how modern enterprises approach, assess, and enhance their cybersecurity efforts.
The Series A funding round was led by SYN Ventures, with participation from well-established investors such as GBM and John Watters, former executives of Mandiant.