Evo Security is a technology company.
Evo Security has raised $5.0M across 2 funding rounds.
Evo Security has raised $5.0M in total across 2 funding rounds.
Evo Security is a cybersecurity company specializing in identity and access management (IAM) solutions purpose-built for Managed Service Providers (MSPs).[1][2][3] It offers a multi-tenant platform consolidating Multi-factor Authentication (MFA), Single Sign-On (SSO), Privileged Access Management (PAM), Managed RADIUS, Technician Elevation, and upcoming tools like End User Elevation and Help Desk Verification, enabling MSPs to secure endpoints, applications, and network devices while eliminating credential sharing and ensuring compliance.[1][2][3] The platform serves MSPs managing SMB and mid-market clients, solving fragmented IAM tools that increase costs and risks by providing streamlined, scalable access controls that turn security into a recurring revenue stream.[2][3][5]
Founded in 2018 in Austin, Texas, Evo has grown to around 30-39 employees and secured funding, including a Series A led by TechOperators, demonstrating strong momentum through MSP partnerships nationwide and features like an intuitive admin portal with dark mode and multi-tenancy.[1][4][6]
Evo Security was founded in 2018 by Michael Roth, CEO with decades of experience in cybersecurity and MSP operations, alongside CTO Greg Gage and VP of GTM Operations Dan Vaz, who bring expertise in security products, SaaS growth, and service provider models.[2][4][5] Roth identified a critical gap: MSPs juggle 3-5 siloed, expensive IAM tools across clients, heightening risks amid rising cyber threats, while enterprise solutions didn't fit MSP workflows.[2][5] Launched officially around 2020, Evo emerged as the first MSP-first, multi-tenant IAM platform, backed by MSP advisors and institutional investors, quickly gaining traction by consolidating tools and aiding compliance like CMMC and HIPAA.[3][5][6]
Evo rides the surging demand for IAM in the SMB sector, where MSPs serve underserved clients facing escalating threats and regulations like GDPR, HIPAA, and CMMC that cascade from enterprises.[6] Timing aligns with MSP market expansion—projected to grow as SMBs outsource cybersecurity amid talent shortages—positioning Evo to fill the "PAM pain" gap with a scalable platform that enhances acquisition readiness and security maturity.[3][5][6] By empowering MSPs (the "unsung heroes" for SMB IT), Evo influences the ecosystem through nationwide partnerships, better outcomes for thousands of endpoints, and commercial empathy that accelerates adoption over friction.[3][6]
Evo's trajectory points to rapid expansion via product roadmap additions like End User Elevation and Help Desk Verification, deeper MSP integrations, and leveraging regulatory tailwinds to capture more SMB IAM spend.[1][6] Trends like zero-trust enforcement, AI-driven threats, and MSP consolidation will amplify its multi-tenant edge, potentially evolving Evo into a category leader as it scales revenue models proven in SaaS security.[2][5] With operator-founders and investor backing, Evo stands poised to redefine MSP cybersecurity profitability, closing the identity gap that leaves SMBs vulnerable today.[6]
Evo Security has raised $5.0M in total across 2 funding rounds.
Evo Security's investors include Strategic Cyber Ventures, B Capital Group, Glasswing Ventures, Grotech Ventures, Insight Partners, Lightspeed India Partners, March Capital, Mindset Ventures, Predictive VC, Sorenson Ventures, Spero Ventures, Techstars Impact Fund.
Evo Security has raised $5.0M across 2 funding rounds. Most recently, it raised $1.0M Venture Round in October 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2023 | $1.0M Venture Round | Strategic Cyber Ventures | |
| Jan 1, 2022 | $4.0M Seed | B Capital Group, Glasswing Ventures, Grotech Ventures, Insight Partners, Lightspeed India Partners, March Capital, Mindset Ventures, Predictive VC, Sorenson Ventures, Spero Ventures, Strategic Cyber Ventures, Techstars Impact Fund |