Chilean cybersecurity startup raises capital to set up shop in the US, Brazil, and Mexico

RIO DE JANEIRO, BRAZIL – Camel Secure, a startup dedicated to managing and automating the cybersecurity infrastructure of companies and founded in 2018 by Fabián Rodríguez and Luis Montenegro, closed, in January, its second round of financing for US$1.4 million.

The capital raising was led by two Chilean investment funds, Weboost and Manutara, which had already participated in 2018 in the seed round for US$500,000.

Rodríguez, CEO of Camel Secure, says that with the capital, they will consolidate their presence abroad, with the opening of a branch in Florida, United States, and the appointment of a country manager in Mexico and another in Brazil.

He says they already have sales and clients in the latter two countries in partnership with other companies, but now they want to establish themselves and become a player in those markets.

“With the capital injection, we will be able to hire personnel and implement new services for the US market, one of the most competitive globally,” says Rodriguez.

THE TECHNOLOGY

Rodriguez explains that Camel’s work is segmented into two areas: Camel Vulnerability Manager (CVM), which allows detecting all the weak points in the technological infrastructure of a given company so that they can make decisions to solve them.

The second is Camel 360, where other components are added to generate a technology risk manager. The CEO defines it as “a cybersecurity technology suite”.

He explains that, among other things, this platform has an event collector. It means that, for example, a company may realize that many people are logging into its servers at 4 AM, which is anomalous behavior. Camel can then shut down the servers at that time and prevent potential attacks. They also detect if a computer is missing a software patch and install it to fix it.

The CEO explains that they have different business models. Some companies are provided with the technology to exploit it autonomously after training. Others clients ask for constant help, so they have a team dedicated to managing the platform for them.

They also have a kind of forum called Camel Community, where clients can ask questions if they have doubts about using the technology.

PROJECTIONS

To date, Rodríguez says that they have around 35 large clients, such as Codelco, Scotiabank, Servipag, and BCI.

He points out that, in 2021, they closed with sales of more than US$1 million, and in 2022, with the expansion abroad, he expects this figure to multiply by five.

One of the co-founders of Weboost, Cristián Velasco, states that “Camel Secure has the opportunity to do for cybersecurity what Google Analytics did for data: put something technical at the center of the company’s strategy in a simple but profound way”.

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