On November 8, 2023, Cavelo announced it had secured $5 million in a seed financing round led by iNovia Captial. The company plans on utilizing the funding towards expanding their offerings and operations.
Cavelo aims to assist businesses reduce cybersecurity data risk and protect their data.
iNovia Capital is a Montréal-based venture capital firm which invests in founders to build enduring global technology companies.
Osler, Hoskin & Harcourt LLP advised Cavelo with a team consisting of Gary Marshall and Nataly Dil (Emerging and High Growth Companies).