Vento leads €4m series-A for Spanish startup Blueliv

The company will use the fresh capital primarily to consolidate its expansion by increasing the size of its units across the business in order to reach more markets, develop new products, and accelerate its international growth, Unquote understands. Blueliv will also employ part of the funding in the development of its Internet-of-Things/operations technology products and new threat-intelligence modules and categories, which will be launched in 2018.

Following the deal, Luis Navarrete, CIO and head of ICT strategy at Agbar Group, which controls Vento, has been appointed to Blueliv's board of directors to provide non-executive support.

In addition to the new funding, Blueliv has also announced the appointment of Andy Chandler as senior vice-president to strengthen its management team, and the relocation of its Barcelona headquarters.

Vento invests in minority stakes of early-stage companies, deploying equity tickets ranging from €500,000-5m per investment. The fund is controlled by Aqualogy/Suez Advanced Solutions, which is part of Agbar Group, and by the Centre for the Development of Industrial Technology, a public organisation managed by the Spanish Ministry of Economy.

Previous funding
In 2014, Blueliv received an initial €2.5m funding round from Kibo Ventures, through its Amerigo Investment fund; Telefónica Ventures, the venture capital arm of Telefónica; and entrepreneur Roger Casals.

Company
Founded in 2009 and based in Barcelona, cybersecurity startup Blueliv provides a cloud-based platform to protect companies from credit card fraud, data theft, malware and cyber threats. Blueliv's clients comprise businesses and organisations operating in the financial, energy and telecommunications sectors in Spain and Latin America. The company employs 60 staff.

People
Blueliv – Daniel Solís (CEO, founder).
Agbar Group – Luis Navarrete (CIO, head of ICT strategy).

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• Venture