Privileged access management startup Quickpass Cybersecurity closes Series A

Quickpass Cybersecurity, a privileged access management (PAM) platform, has collected an additional $3m to bring its Series A round to $7m.

The fresh investment was supplied by Arthur Ventures, an investor focused on B2B companies.

With the capital, Quickpass hopes to improve the security for managed service providers (MSPs) and their customers.

It has been a strong period of growth for Quickpass, having doubled its annual recurring revenue over the past six months.

The CyberTech company offers PAM and help desk security automation. Its PAM platform empowers MSPs to rotate their privileged account passwords across AD and Azure AD, inject technician credentials into the most popular RMMs and enforce a zero standing privileges policy across all customers.

Its Help Desk solution automates the resolution of password reset tickets and leverages biometrics to identify who is calling the help desk. It currently has over 400 MSP partners, it said.

Quickpass CEO and co-founder Mateo Barraza said, “Over the past decade, cybersecurity threats have continually expanded downmarket and into the SMB space. Unlike the Enterprise market, the SMB space and the MSPs that serve them have been caught without a well-rounded and mature set of tools to protect themselves.

?We intend to change this by providing the MSP community with best-in-class cybersecurity tools in the Privileged Access Management and Helpdesk Security Automation areas,” Barraza continued.

Earlier in the week, CyberTech100 company CybSafe raised $28m in its Series B funding round. The company founder, Oz Alashe, recently spoke to FinTech Global about how serving as a former army officer and UK Special Forces volunteer helped with the creation of the company.

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