Entersekt, an authentication and app security company has raised a new round of funding this September with participation from Endeavor Catalyst. The investment marks Endeavor Catalyst\u2019s first ever in South Africa.<\/p>\n
Schalk Nolte, Entersekt\u2019s CEO, said that cash will be used to further help finance the company’s expansion: “We hope to accelerate our move into new markets with the support of Endeavor\u2019s very credible network of business leaders,” he said.<\/p>\n
“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, MD, Endeavor Catalyst.<\/p>\n
“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,\u201d said Catherine Townshend, MD at Endeavor South Africa.<\/p>\n
“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.”<\/p>\n
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 $5 million from a professional venture capital or growth equity fund.<\/p>\n
“It is a grueling process underscoring exactly how impressive the Entersekt success story is,” said Townshend.<\/p>\n