# Cavelo

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

- Industry: Software
- Headquarters: Kitchener, Canada
- Website: www.cavelo.com/
- Total disclosed funding: $8.3M
- Latest round: Seed (Jul 29, 2025)
- Investors on record: 3

## About

Cavelo Inc., based in Canada, is a cybersecurity company that specializes in attack surface management, catering primarily to Managed Service Providers and IT teams for enhanced data security and compliance. James Mignacca, CEO at Cavelo Inc. was founded in 2020 in Kitchener, Canada. As a cybersecurity firm, it focuses on helping organizations manage their data security challenges effectively. In July 2025, Cavelo Inc. raised CAD 5 million in seed funding led by returning investor Inovia Capital. The round was part of a larger CAD 11.3 million seed funding. Cavelo offers a consolidated attack surface management platform designed primarily for Managed Service Providers (MSPs), Managed Security Service Providers (MSSPs), virtual Chief Information Security Officers (vCISOs), and IT teams. The platform facilitates the continuous discovery, classification, and reporting of sensitive data, specifically Personally Identifiable Information (PII) and proprietary data, addressing critical security and compliance challenges faced by organizations. By integrating seamlessly with existing technologies, Cavelo enables users to quickly initiate their data security processes, thus enhancing operational efficiency and reducing risks associated with data breaches. The platform includes features such as configuration scanning against industry-leading benchmarks and access control management, which are essential for maintaining data integrity and compliance across various IT environments. Cavelo's products are marketed and utilized in North America, Europe, and Asia, catering to a diverse client base that includes small to large businesses requiring robust data security solutions.Cavelo operates a subscription-based revenue model, wherein clients pay for access to its attack surface management services. The company engages primarily in B2B transactions, providing its platform to MSPs and other security service providers, who in turn offer these services to their end customers. The platform is redefining data security posture management giving service providers the visibility they need to understand and act on their customers’ risk exposure, while empowering end customers with real, measurable improvements to their security posture. This funding fuels our continued momentum and strengthens our commitment to our partners and their success. In July 2025, Cavelo Inc. raised CAD 5 million in seed funding led by returning investor Inovia Capital. The round was part of a larger CAD 11.3 million seed funding. The company will use these funds to further develop its platform and support expansion into the US market. Cavelo plans to enhance its offerings with new products aimed at strengthening its attack surface management capabilities, with specific launch dates yet to be announced. The company is also targeting geographic expansion into additional regions to broaden its market reach. Cavelo’s platform empowers them to strengthen their security offerings and reduce risk for their end customers.

## Funding rounds

- Seed, Jul 29, 2025, $3.7M — Inovia Capital, MaRS Investment Accelerator Fund, Graphite Ventures
- Seed, Nov 8, 2023, $3.6M — Inovia Capital, Graphite Ventures
- Seed, Feb 4, 2021, $1M — MaRS Investment Accelerator Fund

## Investors

- MaRS Investment Accelerator Fund (https://capitalatlas.ai/funds/mars-investment-accelerator-fund) — Seed
- Inovia Capital (https://capitalatlas.ai/funds/inovia-capital) — Seed
- Graphite Ventures (https://capitalatlas.ai/funds/graphite-ventures) — Seed