# Carbide

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/carbide

- Industry: IT Security/Cybersecurity
- Headquarters: Nova Scotia, Canada
- Website: www.carbidesecure.com
- Total disclosed funding: $5.3M
- Latest round: Seed (Dec 21, 2021)
- Investors on record: 6

## About

Carbide specializes in providing information security solutions that enhance compliance and security for organizations. Their automated platform combines consulting with software to streamline compliance processes.Founded in 2016, Carbide is based in Nova Scotia, Canada, and focuses on delivering security solutions tailored for compliance with various frameworks. The company was co-founded by Darren Gallop and Laird Wilton, with Gallop currently serving as the CEO. Notably, Carbide has completed five deals, with the latest funding round being a Seed round in December 2021, raising USD 4.1 mn from investors including Allos Ventures, Build Ventures, Concrete Ventures, and Hub Angels Investment Group.Carbide offers a comprehensive suite of information security solutions designed to facilitate compliance and enhance security for organizations of varying sizes. Their core product is an automated platform that integrates expert consulting with software automation, enabling businesses to streamline their security and compliance processes. Key functionalities include policy creation, evidence collection, cloud monitoring, and continuous support for audits, all tailored to meet specific compliance and regulatory requirements. The platform supports various frameworks, such as SOC 2, GDPR, ISO 27001, and HIPAA, allowing clients to adapt to multiple regulatory landscapes seamlessly. Carbide primarily serves fast-growing organizations across North America and Europe, catering to industries that require robust security measures, including technology, healthcare, and financial services.Revenue generation for Carbide is structured primarily through subscription-based services and expert consulting engagements. Clients subscribe to the Carbide platform, which provides them with continuous access to security tools and automated compliance workflows. Additionally, the company offers a Fractional CISO program that delivers hands-on workshops and expert consulting services to organizations looking to enhance their security posture. Transactional dynamics involve clients utilizing the platform for ongoing security management and compliance needs, supplemented by personalized advisory services when required. This dual revenue model allows Carbide to establish long-term relationships with clients while driving consistent revenue growth through recurring subscriptions and value-added consulting services.Following the most recent funding round on December 21, 2021, in which Carbide raised USD 4.1 mn, the company aims to enhance its platform with new capabilities and expand into international markets. They are particularly focused on targeting sectors that demand stringent security measures, with potential expansions into new regions across Europe and Asia planned for 2023. The funds raised will support product development initiatives and market entry strategies, ensuring that Carbide effectively meets the evolving needs of its clients.

## Funding rounds

- Seed, Dec 21, 2021, $4.1M — Allos Ventures, Hub Angels Investment Group, Build Ventures, Concrete Ventures
- Seed, Jul 9, 2019, $1.2M — Invest Nova Scotia, Hub Angels Investment Group, Panache Ventures, Concrete Ventures

## Investors

- Invest Nova Scotia — Seed
- Hub Angels Investment Group (https://capitalatlas.ai/funds/hub-angels-investment-group) — Seed
- Panache Ventures (https://capitalatlas.ai/funds/panache-ventures) — Seed
- Concrete Ventures (https://capitalatlas.ai/funds/concrete-ventures) — Seed
- Allos Ventures (https://capitalatlas.ai/funds/allos-ventures) — Seed
- Build Ventures (https://capitalatlas.ai/funds/build-ventures) — Seed