Entersekt, an authentication and app security company led by Endeavor Entrepreneurs Schalk and Dewald Nolte raised a new round of funding this September with participation from Endeavor Catalyst. The investment marks Endeavor Catalyst’s first ever in South Africa.
The news was highlighted in prominent South African tech news outlet ITWeb, among others.
“We believe in the growth potential of Entersekt and in the idea that you can potentially build scale-up companies in every market across the world where Endeavor operates,” said Allen Taylor, Managing Director, Endeavor Catalyst. “The leadership of Schalk and Dewald Nolte, and their teams, is exceptional, as are their abilities as entrepreneurs. We are avid supporters of Entersekt and believe that they have what it takes to build a truly high impact global business.”
Previous Endeavor Catalyst investees span markets such as Latin America and the Middle East, and many have been acquired for hundreds of millions of dollars. Some have even IPO’d on the New York Stock Exchange.
“Achieving investment is no easy task, every company goes through a rigorous, multi-step selection process as Endeavor screens thousands of entrepreneurs from around the world,” explained Catherine Townshend, Managing Director, Endeavor South Africa. “We identify those with the best talent and potential for impact during a six- to eight-month due diligence process. At the end, only the very best entrepreneurs are selected to be a part of our portfolio.”
Once applicants have undergone the Endeavor selection process, they are eligible to receive Endeavor Catalyst funding after they have raised an equity financing round of more than $US 5 million from a professional venture capital or growth equity fund.
“It is a grueling process underscoring exactly how impressive the Entersekt success story is,” added Townshend
“We are delighted to welcome another strong partner on board,” said Schalk Nolte, Entersekt’s CEO. “Beyond the investment, which will further help finance our expansion, we hope to accelerate our move into new markets with the support of Endeavor’s very credible network of business leaders.”
Entersekt was founded in Stellenbosch in 2008 by four local entrepreneurs. It has developed innovative and world-leading push-based authentication security technologies. The goal is to use the investment to fund further international expansion and research and development into one of the world’s fastest growing sectors. The company currently has clients operating in 45 countries.
To date, Endeavor Catalyst has raised $US 100 million in philanthropically-donated and invested capital, and invested into more than 50 Endeavor companies in 20 countries. The fund has co-invested alongside leading venture capital and growth equity funds such as Accel Partners, General Atlantic, NEA, Sequioa Capital and Tiger Global. Investments include Globant (GLOB) in Argentina, Yemeksepeti.com in Turkey, Fetchr in the UAE, and, for the first time in South Africa, Entersekt.
About Endeavor Catalyst
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised $100M+ in philanthropically donated and invested capital, and invested into more than 50 Endeavor companies in 18 countries. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina; Yemeksepeti.com (acquired by Delivery Hero) in Turkey and Ruma in Indonesia.
Learn more about Endeavor Catalyst by clicking here.
Entersekt is an innovator in push-based authentication and app security. The company’s one-of-a-kind approach harnesses the power of digital certificate technology with the convenience of mobile phones to provide financial services companies and their customers with full protection from online fraud. Built on open technologies for high availability, scalability, and simple integration, Entersekt’s patented security products protect millions of devices and transactions daily, while complying with the world’s most stringent regulatory guidelines. Enterprises across the globe look to Entersekt to strengthen the bond of trust they share with their customers, and to build on those relationships by introducing compelling, user-friendly new mobile and online services. For more information on Entersekt, visit www.entersekt.com.