Berlin, Germany-based design-first Identity & Access Management solution that enables SMBs to regain control over the software applications their employees use, Cakewalk raised EUR 2 million in funding. The round took place on June 23, 2023. Fly Ventures led the financing for the company.
Meanwhile, Seedcamp, Possible Ventures, and prominent Business Angels joined in the round.
Purpose of financing for Cakewalk
The company has plans to add further features that make software usage in SMBs more compliant and secure.
What the company’s official has to add
Johannes Keienburg, CEO and Co-Founder of Cakewalk said, “We are living in an era of rapid software evolution. SaaS, APIs, and AI are changing everything. But companies can only exploit the potential of these solutions if they have a chance to stay in control over them. Especially in SMBs, this is next to impossible – we’ve been there ourselves. That’s why we are building Cakewalk with our design-first approach: enabling every employee to contribute to security and compliance.”
What the investors have to comment
Gabriel Matuschka, Partner at Fly Ventures, further adds,” We love backing teams like Johannes, Gil, and Gonzalo who solve complex technical problems that they’ve been struggling with themselves. With their easy Identity & Access Management solution, Cakewalk is simplifying something that SMBs have been fighting with for too long.”
In addition, Carlos Espinal, Managing Partner at Seedcamp, commented, “Cakewalk’s easy Identity Access & Management solution solves a real pain for SMBs who are increasingly exposed to cybersecurity risks. With its design-first, employee-friendly approach, the platform enables companies to adopt innovative software solutions while preserving high security and compliance standards. We are excited to back Johannes, Gil, and Gonzalo, a highly experienced team with strong backgrounds in the automation, security, and data compliance space.”
Besides, Chris Hitchen, Managing Partner at Possible Ventures, said, “SMBs are clearly underserved when it comes to Access Management. Cakewalk, leveraging its design-first approach, is developing a novel solution to a problem that is projected to escalate significantly in the coming years.”
About Cakewalk
In June 2022, Johannes Keienburg (CEO) and Gil Roeder (CPO) launched the company. Cakewalk solves the global problem that SMBs increasingly face, i.e, adopting novel applications which is costly and further leads to an increasing loss of control. Many SMBs lack the internal resources to address this issue. Also, incumbent security solutions, enabling companies to control their 3rd party software, are too complex for SMBs. As a consequence, SMBs are ill-equipped to face today’s increasing security and compliance risks.
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