Avertro Pty Ltd, co-founded by Ian Yip and Roman Mandryk has closed their first round of fundraising led by Australian Venture Builder, Black Nova Group Pty Ltd following the completion of two intensive accelerator programs, Antler and CyRise.
Avertro is a platform that helps organisations manage the business of cyber, right-size spend and forecast outcomes. Matthew Browne, Managing Partner of Black Nova Group, invested in Avertro because “the platform will bridge the gap between understanding the business requirements of cybersecurity at an executive level, and establish its alignment with business outcomes”.
The funding round comes to a close following the completion and final pitch of CyRise . The 3-month accelerator program, funded by NTT & Deakin University, targets local, innovative startups that provide new and exciting solutions to the cybersecurity ecosystem.
“[Cyrise] invested in Avertro because we saw a unique solution to a very large, very painful problem that impacts a wide section of the market. Avertro is bringing automation to a manual process, along with much needed insight into what companies spend on protecting their assets and why. This is a product whose time has come,” claims Scott Handsaker, CEO.
“Since our initial investment in Ian and Roman at Avertro in August 2019, we’ve seen the team build and execute against their strategy, providing quick and significant value to their early clients, even during the challenging circumstances we’ve all experienced this year. We’re delighted to further support them in their current fundraising round alongside the strategic incoming investors,” shared Anthony Millet, Partner at Antler.
In addition to closing the funding round, Avertro is moving forward with the onboarding of customers, such as CPA Australia . Nigel Hedges, Head of Information Security at CPA said that they selected Avertro because “ the platform provides us with executive and board-level reporting, helps manage our cyber risk, capabilities, and strategy, and supports our compliance efforts. It allows us to track and forecast our cyber journey over time, and supports our ability to demonstrate the real value that cybersecurity brings to CPA Australia. All of this is being done to demonstrate confidence to our members, our teams and our board”.
CEO and Co-founder, Ian Yip, has expressed that “Avertro is honoured to be a strategic piece of CPA’s cyber capability. The trust they have shown in the Avertro platform is a testament to our team’s pedigree and understanding of the challenges organisations face. We continue to work closely with CPA Australia and a committee of other organisations to ensure we are best placed to help the industry level up.”
