Cavelo announces $5 million venture capital financing

On November 8, 2023, Cavelo Inc. announced that it had secured $5 million in venture capital financing led by Inovia Capital, with participation from existing investors including Graphite Ventures. 

Cavelo, headquartered in Kitchener, Ontario, helps businesses achieve attack surface management with automated data discovery, classification and reporting. Its cloud compatible cyber asset attack surface management (CAASM) platform continuously scans, identifies, classifies and reports on sensitive data across the organization, simplifying compliance reporting, vulnerability management and risk remediation. 
 
Gowling WLG advised Cavelo with respect to this financing with a team that included Duncan Snyder (corporate) and Christopher Andree (employment), assisted by corporate law clerk John Bedard and student-at-law Upama Poudyal.