Fyde, a Palo Alto, CA-based Oporto, Portugal-based platform for users to remotely access to their company’s servers, closed a €2M post-seed funding round.
The round was co-led by Draper Nexus and Vertex Ventures, and subscribed by Bright Pixel, Portugal Ventures and Wells Fargo.
The company intends to use the funds to expand the Oporto based team with talent in engineering, product and sales.
Founded in 2017, Fyde provides a solution that enables secure access to servers and eliminates the security risks associated with traditional VPN access.
The system allows companies with a distributed workforce to mitigate breach risk by enabling secure access to critical enterprise resources for their employees, partners, contractors, and outsourcers. Its flagship enterprise product provides granular access controls for enterprise apps and workloads, continuously monitors access requests, improves the security posture of endpoints and protects user identities against phishing and account takeover attacks.
The company has a team of about 20 employees in Oporto, led by José Luís Pereira, Chief Technology Officer, and Luísa Lima, VP of engineering, Sinan Eren, and Pablo G. Sole, Chief Scientist.