Cybersecurity startup raises bridge capital

Bandura, a local cybersecurity software startup, has raised part of a $500,000 debt and option offering, according to a filing with the Securities and Exchange Commission.

About $125,000 has been raised from two unidentified investors, the filing shows.

Bandura CEO Suzanne Magee said the money will serve as bridge capital as the startup moves toward raising a larger Series A financing — rounds that typically come in between $2 million to $5 million. Magee declined to discuss the round further.

Bandura has developed technologies to stop data breaches. Most of the startup’s clients are in the financial services, health care and energy industries, though Magee said retail and legal represent a growing segment of business.

Bandura’s local investors include fintech accelerator SixThirty, women-led business accelerator Prosper Women Entrepreneurs and the Missouri Technology Corp.

To date, the company has raised more than $1 million.

Read more: St. Louis Business Journal


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