Whalebone, a company selling technology to help communication service providers deliver secure user experience, has raised a $3 million Series A round led by Day One Capital with participation from Fazole Ventures and business angels.
Technology developed by the company allows for zero-disruption cybersecurity for internet users of telecoms, Internet service providers and corporates. Their service provides security for mobile, fix and IoT, applicable to all connected devices, convergent and bandwidth independent without the end-user needing to download additional software.
Whalebone seeks to spread its security product throughout the telecom service provider industry while boosting its customers’ average revenue per user. Their vision is establishing a new standard, where the Internet connection itself would be the guarantor of security, and thus to be connected would mean to be protected. The company already has 200 customers in telecommunications and corporate sectors around the globe using its service to protect millions of internet users.
The investment round is led by Day One Capital, a Budapest-based VC Fund investing in technology companies from Central and Eastern Europe. The round is joined by a group of private investors coordinated by the Prague fund Fazole Ventures.
“Judging by our experience with the team of the company over the past two years, we have absolute confidence the service from Whalebone will soon protect hundreds of millions end-users throughout the world. It was only natural all seed investors joined the Series-A round and actually even increased the commitment to the company,” comments Pavel Přikryl, the managing partner of Fazole Ventures.
“Whalebone was looking for an institutional investor and found a perfect match with the knowledgeable team of Day One Capital, whose managing partners, Elek Straub and György Simó provided expert examinations, being former heads of Magyar Telekom Group,” says Richard Malovič, CEO at Whalebone.
Whalebone has repeatedly proven its potential by enabling important CEE telcos to properly protect their customers, while raising revenues significantly. At the moment, they protect for example users of O2 Czech Republic, A1 Austria, A1 Bulgaria, SBB Serbia or Telemach Slovenia. Founded in Brno, Czech Republic in 2016, the company has evolved into a rising cybersecurity star.
“Czech companies have long been successful in building world-class cybersecurity products. Leveraging our experience in telco, we invested in Whalebone because we were convinced by Richard and team’s ability to scale their product globally on a perfectly suited distribution channel”, says György Simó, Partner at DayOne.
Whalebone is just about to announce several deals with national telecom operators in Europe, and global partnerships. For example, Whalebone has partnered up with the global cyber security leader F-Secure this April to bring a unique three-layered security offering. In the following twelve months, the size of the team will double, with the company employing people in Africa, Asia, Europe, and the Americas. Even though the company has already become profitable, it sought this investment to capture the global window of opportunity and keep up with its initiatives that will further support “blitzscaling”.
“It’s an important step towards global expansion. After having established our company in regional markets, we’ve already started going after our global goals. In the next five years, we will aim at hundreds of millions of protected internet users and an annual revenue of €100 million”, said Malovič.
Whalebone is a zero disruption cybersecurity product for telcos, ISPs, and corporations that provides millions of everyday internet users unyielding protection from malware, phishing schemes, ransomware, and other malicious digital attacks without the need for them to download anything. Whalebone’s mission is to bring cybersecurity to 1 billion everyday people. Whalebone has repeatedly proven its potential by enabling important CEE telcos to properly protect their customers, while significantly raising their revenue. At this point, Whalebone has 200 customers in telecommunications and corporate sectors around the globe.