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  • Writer's pictureMatt Kim

Why We Invested in Enveedo: BVI's Investment in the All-In-One Cybersecurity Platform

Updated: 18 hours ago

In the rapidly growing $202 billion cybersecurity market, cyber defense companies have created unique offerings to provide differentiation within the industry. Larger firms often invest high amounts of capital into various point-based solutions that address specific cybersecurity concerns. However, small and middle-market companies that demand cyber solutions often do not have the capital and resources to allocate to cybersecurity services. 

Enveedo, based in Miami, Florida, addresses the underserved middle-market segment with comprehensive “all-in-one” cybersecurity solutions that address all of the constituent parts of a cybersecurity posture. Enveedo manages cybersecurity concerns that are specific to each business’ situation, ultimately reducing risk and preparing for risks in the future. Blu Ventures is excited to announce our $150,000 investment in Enveedo’s $3.15mm Series Seed Round.

This deal was made via Blu’s Cyber Seed Fund V (CSF V), one of our investment vehicles that makes small investments in early-stage cyber companies. In addition to providing capital, Blu aims to support these companies as they grow by providing advice, expertise, and potentially larger investments in the future.

The Blu Rationale

To gain deeper insights into Blu's investment in Enveedo, we interviewed Blu Ventures partner and deal lead, Mike Kostoff. As a board observer, Kostoff leverages Blu's expertise and resources to aid Enveedo's growth trajectory.

When evaluating companies, Blu frequently relies on a structured framework to determine the quality of a potential investment. Below is an inside look at some of our analysis and the rationale behind our decision to invest in Enveedo.


Enveedo’s well-rounded and experienced team played a critical role in this investment. When analyzing cybersecurity companies, Blu looks for a leadership team that demonstrates skills on both the product and sales side of the equation. On the product side, Blu looks for someone who can help the company differentiate its offering. And, on the sales side, someone who can create and lead an effective “go to market” strategy. Enveedo has a team that can “clearly do both”, and has been successful in hiring experienced sales and marketing professionals in addition to their current development team. Enveedo’s team has also worked together for many years, exited multiple companies, and demonstrated a proven track record of success.

Total Addressable Market

Enveedo's focus on the middle market taps into an unpenetrated niche in the cybersecurity industry. By positioning themselves as an “all-in-one” solution, they serve businesses that may not have the capital to purchase a variety of cybersecurity services. Kostoff notes that this market is growing as well, creating a promising landscape for Enveedo. Additionally, Enveedo is planning to target both LATAM and North America, expanding its potential customer base internationally. Enveedo has both a user-side GTM strategy as well as a vendor-side GTM strategy to enter the market in LATAM and North America, which diversifies its market approach and capitalizes on the dynamics of each region.


Blu Ventures was impressed by Enveedo's ability to offer comprehensive solutions at an affordable price to companies that cannot afford a CISO, but still demand cybersecurity services and protection. Kostoff stated that Enveedo essentially offers a “security operations center in a box.” Enveedo helps companies identify their “crown jewels”, or the most important areas they need to protect, and then walk the business through an extensive analysis of their capabilities to reduce cyber risk and prepare for risk in the future. Enveedo taps into a new market and “creates tools where none currently exist.”


Enveedo brought in $288,000 in 2023 ARR, and is projected to generate over $1 million in 2024 ARR. With a promising projected ARR growth of 286.5% in one year, Enveedo is on track to make a statement in the cybersecurity industry. Blu feels that Enveedo’s position in the market and its strategy of working through MSPs and MSSPs can open up new forms of revenue for these partners by pointing out gaps in security or other needs that the MSPS or MSSPs can fill. Kostoff stated that “giving your distribution partners something that in itself gives them more  things to sell is a very powerful thing … which makes me excited about their sales strategy overall.”

Future of Blu and Enveedo

Part of the job of Blu’s CSF V committee is to provide guidance and help to portfolio companies after capital has been invested. As such, Mike will continue to work with Enveedo and bring in the appropriate expertise to help them with their go-to-market strategies. When asked where he sees Enveedo in the future, Kostoff explains that he sees Enveedo potentially partnering with cyber insurance companies. He states that businesses are likely to use more cyber insurance in the future. By creating a partnership, Enveedo can help insurance companies’ clients have safer practices, decreasing the likelihood of a breach, and thus saving the insurance companies money (and reducing the premium that client companies must pay).

With high growth potential, Enveedo is on track to drive the future of an unpenetrated market in the cybersecurity industry. Blu Ventures is excited to have invested in Enveedo to redefine cybersecurity solutions and provide accessible and comprehensive defense for middle-market companies.


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