Welsh Cybersecurity software firm, Enclave Networks, has closed a $1M funding round led by existing investors Next Big Thing together with new US-based cyber investors Gula Tech Adventures (GTA).
Enclave Networks has developed proprietary technology to improve the security and resilience of computer networks, whilst simultaneously making them more straightforward to set up and manage.
The investment will support Enclave's go-to-market strategy and expansion into new markets, including the USA.
In 2021, four in ten businesses (39%) identified breaches or attacks on their networks, according to the Government's Cyber Security Breach Survey.Enclave, a Zero Trust software-as-a-service (SaaS*) product, makes connectivity within businesses and their supply chains simpler and more secure. It does this by ensuring connecting systems are invisible to unauthorized third parties, unlike VPN server solutions which are openly visible to the public internet for anyone to discover and connect to.
As businesses worldwide grapple with the security challenges of a new ‘work-from-home force' in the wake of the pandemic, Enclave offers a solution that allows organisations to continue delivering their work remotely and securely, even when operating within increasingly complex multi-cloud environments.
Founded in 2016, Next Big Thing AG (NBT) is a Berlin-based venture studio for the Machine Economy that provides a full range of services for the technical development of joint ventures in blockchain, IoT, and cybersecurity. As a venture studio, corporate innovation partner and co-founder, NBT is actively involved in a thriving hub and growing ecosystem of companies, founders, technologists, entrepreneurs, investors, and politicians. Working closely with the senior management team, NBT will support the worldwide sales of the Enclave product to elevate it to the next level of international cybersecurity.
Gula Tech Adventures is a venture capital firm focused on investing in the next generation of cyber threats, cyber hygiene and cloud security. Ron and Cyndi Gula, the founders of Gula Tech Adventures, have decades of experience starting and running cybersecurity companies.
Commenting on the deal, Enclave Networks CEO David Notley said:
“We are delighted to oversubscribe our latest funding round with outstanding investors who have proven capabilities growing disruptive technology companies such as ours. Network infrastucture has become increasingly complex and diverse, with the result that all too often it can be a blocker to organisational agility rather than the enabler it can be with Enclave.
“Thanks to this deal, we will be able to target new markets and develop our client base across the globe. We will also be adding to our team, investing in new roles particualry to support our go to market activities.
Harald Zapp, CEO and Founder of Next Big Thing, said:
“Enclave has gone from strength to strength since NBT first invested in March 2020. We are pleased to be able to follow that with further investment and look forward to continuing our working relationship”.
Ron Gula of Gula Tech Adventures said:
“We are excited to partner with Enclave to build the next generation of secure computer networks. Enclave is a great fit for our “Secure by Design” portfolio. The networking market is ripe for disruption through easy to deploy Zero Trust solutions.
“We look forward to working together with Enclave to present companies with solutions that enable them to conduct business safely, which is more important now than ever.”
David Notley continued:
“These are exciting times for Enclave Networks. We are looking forward to working with Next Big Thing, Gula Tech Adventures and our other partners to offer more companies the opportunity to protect their networks against the ever-growing threat of cyber attacks and the disastrous consequences such breaches can bring.
“Our mission is to help organisations radically simplify their network management by turning their networks into enablers rather than blockers.”