Axoflow, a cybersecurity startup revolutionizing the way enterprises collect and handle security data, today announced it has raised a $7 million seed round led by EBRD Venture Capital. All existing major investors, Credo Ventures and e2vc, have significantly increased their stakes in the company, reaffirming their belief in Axoflow’s mission and the trajectory of its growth.
The new funding will be used to further develop Axoflow’s pioneering security data curation pipeline—that dramatically improves security data quality and reduces associated costs, without the need to write code. In short making high-quality security data more accessible for better detection, response, AI, and compliance.
Axoflow’s founders – led by Balázs Scheidler, creator of industry-standard open-source project syslog-ng – firmly believe it’s high quality (and not quantity) security data that makes enterprise Security Operations Centers (SOC) more efficient.
“I’ve spent decades in cybersecurity, and seen firsthand how poor data quality undermines even the most advanced security initiatives,” said Balázs Scheidler, CEO of Axoflow. “Axoflow Platform productizes our know-how into a pipeline that automatically discovers, classifies, parses, normalizes, and enriches security data—and also reduces its volume by more than 50%, leading to significant cost-savings.”
Axoflow Platform eliminates the need for manual, code-heavy data wrangling by offering a pipeline that automatically handles data from a broad array of security sources—including syslog, which can still account for over half of all security data. “Harnessing our team’s extensive knowledge from creating and maintaining syslog-ng, our product has built-in alerting and monitoring capabilities, preventing the surprisingly common ‘invisible data loss’. This is considered table-stakes by compliance teams in highly regulated enterprises”, said Scheidler.
“Enterprises are facing increasingly sophisticated cyberthreats and grappling with rapid growth in security data as their environments become more complex,” said Yalcin Gungoren at EBRD Venture Capital. “Axoflow provides the intelligence layer that empowers cybersecurity professionals with greater control and visibility over their environments. The Axoflow Platform not only modernizes the security data layer and reduces costs but also strengthens the overall security posture. We feel privileged to join Axoflow’s deeply technical and seasoned team on this exciting journey.” added Yalcin Gungoren.
Already trusted by large enterprise customers, Axoflow is well-positioned to serve hybrid enterprises looking to optimize their security data pipelines either in the cloud, on-prem or in airgapped environments.
With the new funding, Axoflow will further accelerate product development and strengthen its market presence. SOC teams are welcome to see Axoflow in action and learn how they benefit from improved data quality and the automation of their data pipeline at the upcoming RSA Conference and the Gartner Risk and Security Summit.
