C5 Capital in $17m series-B for Blue Cedar

Katharine Hidalgo
20 March 2019

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London-based VC C5 Capital has invested in a series-B funding round for San Francisco-based mobile app security software company Blue Cedar.

Existing investors Benhamou Global Ventures, Generation Ventures, Grayhawk Capital and Sway Ventures also participated. C5 will use funds from its C5 Cyber Partners II vehicle, which has not yet held its first close. The fund has a target of $200m.

The fresh capital will be used to invest in the research and development required to integrate more partners. The company also plans to increase headcount in sales in London, in order to expand into Europe, as well as New York and Silicon Valley.

Daniel Freeman, managing partner at C5, told Unquote: "It's very hard for companies to find the talent required to integrate and maintain infrastructure to support customers. Blue Cedar's technology makes it very easy to integrate and allows customers to take advantage of the technologies they already have. Blue Cedar is solving problems for companies, it has a number of high-quality reference customers and there is a lot of IP behind the technology."

C5 had already been working with the company for several months at the time of the investment. The investment team had been sharing their understanding of the market, helping with hiring and introducing new customers.