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Australian security startup FunCaptcha raises $1m in a pre-Series A Investment round

2017-07-24 23:00
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-- Cybersecurity is now an often talked about industry. FunCaptcha is proving that old frustrations can be turned into new business models.

SYDNEY, July 24, 2017 /PRNewswire/ -- FunCaptcha, an Australian cyber security startup, closed a $1m pre-Series A funding round to supercharge growth and sales in the US region. The investment round was initiated by Leon and Brendan Brummer with follow-on from Sequoia Financial Group, Brisbane Angels and existing investors.

"FunCaptcha is an extremely exciting prospect," said Leon Brummer, lead investor. "It is nice to be involved in a company addressing and solving critical business problems. Nothing is more mission critical than cyber security right now."

"Rapid adoption of our service highlights the strength of FunCaptcha, with revenue growing 20% month on month since May 2016. CAPTCHA has historically been plagued by security and user experience flaws. We addressed these shortcomings head-on, and have developed a CAPTCHA that lives up to the promise of being the ultimate test to determine humans and bots apart," said Kevin Gosschalk, CEO and Founder of FunCaptcha. "We work closely with our customers to ensure FunCaptcha presents a balanced security experience that compels users, and meets the company's needs."

This investment will see key talent relocate to the United States to meet the demands of the company's growing client base, as well as to explore lucrative partnership opportunities with leading Internet-based companies.

About FunCaptcha

FunCaptcha is the world's only CAPTCHA service backed by a guaranteed automation SLA, with experts who become a part of your team and existing workflow. FunCaptcha presents a fun visual activity that resists automation, machine learning, client decryption, brute forcing, and sweatshop techniques. Dedicated data scientists monitor FunCaptcha traffic patterns 24/7 and respond to threats within a guaranteed SLA; rendering automated abuse inoperative and immediately disarming attackers before they can recoup their costs.

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Source: FunCaptcha

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