Resonance Security raises $1.5M pre-seed funding to fix cybersecurity woes

Cybersecurity solution Resonance Security is ready to fulfill its ambitions of providing comprehensive security to every technology startup after closing on a $1.5 million pre-seed funding round today. The company is mainly focused on getting the attention of project founders, many of whom know that the security of their startups leaves a lot to be desired.

Resonance claims to provide what it calls “full-spectrum” cybersecurity, with a novel approach that integrates traditional security tooling with the expertise of its professional code auditors and penetration testers. Now it can boast some strong credentials to back up those claims, with the support of leading VCs like Arca, Fabric VC, and Blockchain Founders Fund, who are all backing today’s round.

End-to-End Cybersecurity Simplified

The company has crafted a unique cybersecurity platform that enables both Web2 and Web3 projects to take a much more proactive approach to security than has previously been possible. It delivers a combination of extensive code audits and penetration testing, together with traditional cybersecurity tools that companies can use to protect the servers and other components of their information technology stacks.

Its audits and pentests are carried out by a growing team of experienced cybersecurity professionals, who carry out a detailed analysis of smart contracts written in languages such as Cadence, Rust, and Solidity. Artificial intelligence technology plays a role too, carrying out automated threat analysis, and the findings of these are used to inform project founders via an overall “security score”, together with a rundown of the most existential weaknesses that could threaten their security.

The AI also acts like a kind of security concierge, the company explains, guiding project founders who don’t possess much security expertise on the steps they can take to boost their overall defenses and safeguard against evolving threats.

Resonance argues that its approach is just what the doctor ordered for many startups, whose teams often lack any security skills. Most new projects have extremely small teams made up of just a handful of developers, and even if those teams do possess some security know-how, they’re often too focused on achieving the project’s goals and meeting the milestones on their roadmaps. Add to that, Resonance correctly points out that many founders are overwhelmed by the choice of hundreds of different cybersecurity tools covering every single aspect of their infrastructure stacks. They simply don’t know where to begin, hence the need for an assessment-based approach.

Arca’s senior vice president of Ventures Michal Benedykcinski said the company aims to “close out the gap by automating clients’ cybersecurity needs, accurately matching them with the best solutions.”

Taking Web3 mainstream

Mansoor Madhavji, a partner at the Blockchain Founders Fund, said Resonance has made “significant strides” already in simplifying cybersecurity for startup teams, adding that it’s an essential step for the Web3 industry to go mainstream. “Their holistic approach is exactly what’s needed to build trust and broaden adoption,” he said.

Madhavji’s comments imply an inherent truth — most people won’t be willing to risk exploring Web3 until the vast majority of apps and services offer a strong degree of protection. Fortunately, the Web3 industry seems to recognize this, for Resonance has gone from strength to strength since launching its platform in beta in March 2023, followed by its official V1 release earlier this year.

With hundreds of engagements with Web2 and Web3 projects under its belt, Resonance has pulled off an incredible 100% client retention rate, underscoring both the high level of satisfaction with its platform and the realization by startups that they cannot afford to ignore security.

Resonance CEO Charles Dray was perhaps being a tad modest when he said that his company’s approach so far has been “quite successful”. Looking forward, he said he’s focused on building an even more robust platform that covers every emerging threat. “We look forward to continuing to go above and beyond to serve the global community,” he added.

The next step for Resonance is to grow that customer base even more and increase its revenue. Today’s funding will also help the company to achieve its next big milestones — the V2 launch of its platform, and the debut of its upcoming consumer-focused cybersecurity product