A Minnetonka-based cybersecurity company recently raised more than $3.5 million, according to a new securities filing.
Founded in 2018, Ostra Cybersecurity Inc. looks to simplify cybersecurity and help small- to mid-sized businesses have access to top-tier tools to protect their data. The company declined to comment on additional details of the fundraising, such as who the investors were and how the company intends to use the proceeds.
Ostra raised the funds in exchange for equity, the filing shows. There were four investors with a first date of sale Sept. 7.
The technology company was founded by Michael Kennedy, a former UnitedHealth Group Inc. executive, serving most recently as the director of IT as well as chief technology officer and vice president of business segments for the Minnetonka-based health care giant. In later forming Ostra, Kennedy sought to simplify cybersecurity for smaller companies (those outside of the Fortune 500) and help them have the resources to protect against cybersecurity threats, according to Ostra’s website.
Ostra’s platform offers threat monitoring, security management and tools to defend against attacks, its website says.
Its technology is tailored to small businesses, mid-sized companies, managed service providers and authorized partners or resellers.
Clients have included local firms like FRSecure, CyberFin and MMX Management, according to its website. Earlier this year, the company secured another client, Salt Lake City-based Measured Analytics and Insurance, according to the Insurance Business magazine.
