Cavelo Announces CAD$5M Seed Extension
Investment Follows Rapid Growth with Pivot to Channel-first Model
KITCHENER, ON — July 29, 2025 — Attack surface management technology provider Cavelo Inc. today announced it has secured a CAD$5M seed extension financing round led by Inovia Capital, a leading Canadian-rooted venture capital firm supporting founders who build global sustainable tech companies. The investment will support product development, sales and marketing efforts to meet growing customer demand.
“Cavelo’s growth over the past year has been nothing short of incredible, driven by our strategic pivot to a 100% channel-first model. We’re meeting the moment for MSPs and MSSPs who are hungry for new ways to deliver meaningful risk reduction to their customers,” said James Mignacca, CEO at Cavelo. “Our platform is redefining data security posture management—giving service providers the visibility they need to understand and act on their customers’ risk exposure, while empowering end customers with real, measurable improvements to their security posture. This funding fuels our continued momentum and strengthens our commitment to our partners and their success.”
Since launching in 2021, Cavelo has quickly become a recognized name in the North American cybersecurity market. In 2024, the company was named both a Challenger and Outperformer in GigaOm’s third annual Attack Surface Management Radar Report, which highlights innovation in this rapidly evolving category. In 2025, Cavelo was honoured as a 2025 CIX Startup Award Winner in the Early Category and named a leader in Channel Program’s Data Discovery and Classification category.
“Since our initial investment in Cavelo in 2023, we’ve been consistently impressed by the team’s ability to execute and deliver value-added products tailored to the needs of MSPs and MSSPs,” said Taha Mubashir, Principal at Inovia Capital. “In today’s rapidly evolving threat landscape, MSPs and MSSPs play an increasingly critical role in securing modern businesses. Cavelo’s platform empowers them to strengthen their security offerings and reduce risk for their end customers. We’re excited to deepen our partnership with Cavelo as they enter their next phase of growth.”
Cavelo is backed by top-tier investors including Inovia Capital, Graphite Ventures, MaRS Investment Accelerator Fund, and strategic angel investors.
About Cavelo
Cavelo is a trusted provider of attack surface management solutions purpose-built for the channel community. Its consolidated attack surface management platform combines sensitive data and asset discovery, access management, and risk-based vulnerability management to help MSPs, MSSPs and VARs deliver actionable insights that improve cyber resilience and drive growth.
Media Contacts
For Cavelo
Mandy Bachus
mandy.bachus@cavelo.com
For Inovia
Alessandra Delli Colli