Metabase Q, a pioneering cybersecurity solutions company in Latin America, announced the successful closure of a Series A funding round with an investment of USD $3 million. Led by SYN Ventures, the round also received backing from established investors such as GBM and John Watters, former executives of Mandiant.
The funding comes at a critical time for the region. According to the Latam CISO 2023 report, the economic damage from cyberattacks could exceed 1% of the GDP in various American countries.
Furthermore, the Inter-American Development Bank (IDB) noted that only 7 out of 32 countries in Latin America have a plan for protecting critical infrastructure. In addition, over 71% of organizations reported increased attacks, with phishing, ransomware, and malware being the most common types.
Metabase Q plans to use the newly acquired funds to expand and optimize its operations. The company had previously raised a total of USD $8 million in earlier funding rounds, standing out for its robust growth, as evidenced by an impressive 403% quarter-over-quarter increase in new bookings.
The firm has introduced Batuta, an innovative platform that streamlines the cybersecurity workflow through various modules that go from rapid deployment to real-time inventory management and AI-driven responses.
Mauricio Benavides, CEO of Metabase Q, highlighted the company’s leadership position in a Latin American market that is often overlooked but faces emerging risks due to rapid digitalization.
Jay Leek of SYN Ventures added that Metabase Q’s transformative approach is crucial for setting new cybersecurity standards in Latin America. In this region, most organizations operate with cybersecurity budgets below USD $500,000.