- Cavelo Inc., a Waterloo, Ontario, Canada-based data discovery and cybersecurity startup, raised $1.3M CAD in pre-seed financing
- The round led by MaRS Investment Accelerator with participation from strategic angels
- The company also intends to use the funds to expand its hiring efforts and platform development to meet customer demand across North America
- Cavelo provides a platform that helps businesses discover, classify, track and manage sensitive data in alignment to industry and regulatory reporting requirements
- Its cloud compatible data risk management platform continuously scans, identifies, and classifies sensitive data across all cloud applications and all endpoint devices
- The company serves businesses of all sizes as well as channel partners including IT services vendors, managed security service providers (MSSPs) and compliance consultants
