BreachRx, a RegTech firm specialising in intelligent incident response, today announced the closure of its $6.5m seed funding round.
This round was led by SYN Ventures and saw participation from Overline. Additionally, the company has made significant appointments, including former Uber CSO Joe Sullivan as a senior advisor, and former SAP CSO and SYN Ventures partner Tim McKnight to the Board of Directors. Former RSA CEO and SYN Ventures managing partner Art Coviello will serve as a Board Observer.
BreachRx offers a patented technology that automates the creation of tailored incident response plans. These plans guide relevant stakeholders through each step of the process, ensuring efficient, coordinated responses to breaches. The system integrates privileged communication channels and comprehensive audit trails, which not only comply with current regulations but also shield CISOs and executive leaders from personal liability.
With the new funds, BreachRx plans to expand its go-to-market and engineering teams. The company currently serves over 70 clients, including several publicly traded and Fortune 500 companies.
BreachRx CEO Andy Lunsford said, “Most organizations approach incident response as a security problem. With eight cyber incidents a day, over 200 worldwide incident reporting regulations and intense public scrutiny, it’s clearly a business problem.
“BreachRx modernizes incident response by empowering businesses to respond to breaches in a highly coordinated, efficient and compliant fashion, replacing the current paradigm of disparate teams responding from their own silos with their own tools. Simply put, BreachRx brings order to the chaos surrounding incident response.”
Tim McKnight, Partner at SYN Ventures, also shared, “BreachRx is a perfect fit for the SYN portfolio. Implementing BreachRx protects companies, shareholders and customers, while meeting the increasingly complex and quickly changing needs of regulators globally. We look forward to helping make BreachRx the new industry standard.”
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