Polish-founded cybersecurity startup Fudo Security, specialising in intelligent solutions for managing and monitoring privileged access to sensitive data, has secured $10 million in funding from the bValue Growth fund.
- Founded in 2012 by Patryk Brożek and Pawel Dawidek, Fudo Security develops advanced Privileged Access Management (PAM) solutions that monitor and secure privileged accounts to prevent data breaches.
- Headquartered in San Francisco and Warsaw, Fudo Security serves private sector industries such as energy, finance, telecommunications, and public institutions, including the military and hospitals. Since 2016, it has supported nearly 500 clients across 35 countries, helping them achieve regulatory compliance in cybersecurity.
"Research shows that 74% of breaches leading to data leaks begin with unauthorized access to privileged accounts. Our solutions provide maximum oversight of digital security while optimizing both implementation and maintenance costs and timelines,” Claims Patryk Brożek, CEO of Fudo Security.
Details of the deal
- The funding round was led by bValue Growth fund, a €90 million Warsaw-based fund launched in April. It focuses on investing in tech startups across the CEE, taking equity stakes of 20-40%, with the potential for majority stakes in exceptional cases.
“The decision to invest in Fudo Security is based on solid financial performance, a unique technological product, scalability potential, and an established position in the promising Privileged Access Management market," Founder and Managing Partner at bValue Fund, Maciej Balsewicz, commented.
- Fudo Security will use the $10 million funding to accelerate technology development, expand its Instant Access solutions, and strengthen its presence in the US.
- The company plans to build local sales teams, grow its partner network, and enhance its product offerings, focusing on secure third-party access.
