# Cybeats Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cybeats-technologies

- Industry: IT Security/Cybersecurity
- Headquarters: Canada
- Website: www.cybeats.com
- Total disclosed funding: $3M
- Latest round: Seed (Dec 18, 2018)
- Investors on record: 6

## About

Cybeats Technologies Inc. focuses on enhancing software supply chain security through innovative solutions that streamline Software Bill of Materials (SBOM) management, ensuring organizations can effectively monitor and manage their software dependencies.Founded in 2016 in Canada, Cybeats Technologies Inc. delivers software supply chain security solutions. The company was acquired by Relay Medical Corp. on March 3, 2021, for USD 7.18 mn, consisting of USD 0.5 mn in cash and 9.3 million shares valued at USD 0.61 each. The current CEO is Justin Leger, while the founder is Peter Pinsker.Cybeats specializes in software supply chain security solutions, emphasizing Software Bill of Materials (SBOM) management. Its flagship product, SBOM Studio, allows organizations to store, enrich, and continuously monitor their SBOMs at scale, integrating with standard formats like SPDX and CycloneDX to enhance visibility and reduce vulnerability review time significantly. Cybeats caters to a diverse clientele across North America, Europe, and Asia-Pacific, targeting enterprises involved in open-source projects to strengthen their security protocols.Cybeats operates on a subscription-based model, granting clients access to its SBOM management and security solutions. This model fosters ongoing client engagement with tailored service tiers, ensuring organizations from startups to large enterprises can benefit from scalable security enhancements. The company’s revenue is augmented through partnerships with businesses aiming to bolster their software security measures.Following its acquisition by Relay Medical Corp. in March 2021, Cybeats Technologies Inc. intends to leverage the recent funding for product development and market expansion. The company is focused on releasing new features within SBOM Studio and expanding its reach into new geographic markets, particularly targeting Europe and Asia-Pacific, by 2023. The funding will support these initiatives to enhance their product offerings and strengthen their market presence.

## Funding rounds

- Seed, Dec 18, 2018, $3M — Inovia Capital, Maple Leaf Angels, MaRS Investment Accelerator Fund, Greensoil Investments, Ripple Ventures, ScaleX

## Investors

- Inovia Capital (https://capitalatlas.ai/funds/inovia-capital) — Seed
- Maple Leaf Angels — Seed
- MaRS Investment Accelerator Fund (https://capitalatlas.ai/funds/mars-investment-accelerator-fund) — Seed
- Greensoil Investments (https://capitalatlas.ai/funds/greensoil-investments) — Seed
- Ripple Ventures (https://capitalatlas.ai/funds/ripple-ventures) — Seed
- ScaleX (https://capitalatlas.ai/funds/scalex) — Seed