Networking and security startup Todyl Inc. said today it has raised $50 million in new funding to grow its cybersecurity platform that enables companies to combat threats and expand its global presence.

Base10 Partners led the Series B investment round with participation from existing investors Anthos Capital, Tech Operators and StoneMill Ventures. This funding brings the total raised by the company to $83.8 million following the company bringing in $28 million from a Series A round in 2022 led by Anthos Capital.

Founded in 2015, Todyl offers a network and security cloud-first platform that unifies multiple cybersecurity segments using a single-agent and modular approach for medium and small businesses. It consolidates secure access and edge security, security information and event management, managed extended detection and response, endpoint security, security orchestration, and governance risk and compliance.

Recently, Todyl added security orchestration, automation and response, or SOAR, to its cybersecurity technology stack. SOAR is a set of tools that help reduce the amount of time it takes to detect and respond to cyberattacks by automating responses and handling the remediation of common security threats automatically. The system can also escalate uncommon or unknown threats to the security team rapidly with necessary metrics so that they can get off the ground quickly.

“Small and medium businesses are facing sophisticated cyberthreats at an unprecedented frequency,” said John Nellen, founder and chief executive of Todyl. “The cost and complexity have kept the capabilities required to defend against ever-changing tactics and adversaries in the hands of large enterprises.”

Nellen explained that the platform is purpose-built to use single-agent operational capabilities to reduce costs. Having multiple agents competing for resources on a single processor can hinder performance, the company claims, which can create a poor user experience. As a result, the platform consolidates all of its modular capabilities into a single agent in a cloud platform that does all of its work in one place.

Customers can pick and choose which capabilities they want using a drag-and-drop interface to create their networking and security stack. From there their cybersecurity agent will automatically update with new features or capabilities without needing to redeploy.

“It’s easy-to-use, cost-effective and modular, empowering IT professionals to effectively prevent, detect and respond to modern threats across their entire environment — SaaS, cloud, data center, office and remote,” Nellen said.

With the new investment, the company said that it would grow its team and establish more office locations globally. The funds would also be used to accelerate the development of its platform through further engineering investments into networking and cybersecurity capabilities.

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