buguroo raises $11M in a round led by Ten Eleven Ventures and Seaya Ventures

Spain Investments 26 November 2019
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buguroo, a Madrid, Spain-based cybersecurity firm, announced the completion of a $11M series A funding round.

The round was led by US-based Ten Eleven Ventures and Spain- and Latin America- focused venture capital firm Seaya Ventures, and included existing investors Inveready Technology Investment Group and Conexo Ventures.

In conjunction with the funding, Alex Doll and Paul Ayers from Ten Eleven Ventures and Beatriz Gonzalez from Seaya Ventures will join buguroo’s board.

The funding will be used to accelerate new product developments and expand the sales and marketing efforts in existing and new markets, with particular focus on the US, UK, France and Germany.

buguroo, founded in 2015 by CEO Pablo de la Riva, develops cybersecurity and disruptive anti-fraud solutions. The company's product for online fraud prevention is known as bugFraud, and enables banks across the globe to protect their customers in real-time from all the online fraud use cases. Currently, the company’s solution protects over 50 million financial services customers in Europe and Latin America from login to logout.