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Based in Austin, Texas, Evo Security develops identity and access management software designed specifically for managed service providers to protect their small and midsize business clients. The company operates a multi-tenant software as a service platform that centralizes authentication protocols, streamlines deployment processes, and secures user identities as the primary defense against external cyberattacks. To scale its enterprise operations and expand its product capabilities, Evo Security has raised $8.5 million in Series A funding through a financing round led by venture capital firm TechOperators. The organization generates revenue through subscription licensing agreements tailored for the managed service provider market. Additionally, the enterprise previously participated in the Geekdom pre-accelerator program and has collaborated with industry partners like ScalePad to promote cybersecurity fundamentals. Evo Security was officially founded in 2018 by chief executive officer Michael Roth.
Evo Security has raised $12.0M across 4 funding rounds.
Evo Security has raised $12.0M in total across 4 funding rounds.
Evo Security has raised $12.0M across 4 funding rounds. Most recently, it raised $6.0M Series A in July 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 25, 2024 | $6M Series A | TechOperators | — | Announced |
| Oct 4, 2023 | $1M Venture Round | Strategic Cyber Ventures | — | Announced |
| Oct 1, 2023 | $1M Series U | Strategic Cyber Ventures | — | Announced |
| Jan 1, 2022 | $4M 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 | Announced |
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 $12.0M in total across 4 funding rounds.
Evo Security's investors include TechOperators, 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.
