Cleveland Startup Heureka Software Makes Further Funding Inroads
Cleveland startup Heureka Software, which last year raised $1.1 million from Northeast Ohio angel investors and venture development organization JumpStart Inc., has added new funding to help fuel its development.
The software-as-a-service company on Tuesday, July 25, announced the new funding comes from Columbus-based NCT Ventures and Chicago’s Bridge Investments. Combined with the previous funding from JumpStart and angels, Heureka said its current fundraising round has reached $1.8 million.
Heureka describes itself as helping companies “increase their resilience to cyber threats, while dramatically reducing operating expenses associated with governance, risk, compliance and litigation activities.”
CEO Greg Pacholski, in a news release announcing the new funding, said large enterprises “have an exponentially increasing volume of data that resides on file shares, desktop and laptop endpoints. These companies simply cannot continue to operate without locational awareness of sensitive, valuable and strategic information stored on endpoints.”
Bill Frank, a partner at NCT Ventures, said in a statement that with the General Data Protection Regulation deadline approaching in May, “businesses need to take action and prepare for the increasing regulations to protect consumer data. Corporations need to be more proactive about how they monitor and manage data, and Heureka is the tool to comply with these regulations. That’s why we’re excited to support the company in this funding round.”
Heureka said in the release that its enterprise customers includes Salesforce, Ohio State University and the Western Reserve Group.
Rem Harris, JumpStart’s senior partner in charge of investing, said in the Heureka release that the company “is solving a real problem in endpoint file analysis and management. We are excited to be partnering with other respected investors like NCT Ventures and Bridge Investments to help accelerate the company’s growth.”
This story originally appeared on Crain’s Cleveland Business.