Portuguese-American software startup Fyde has raised €2 million in a funding round co-led by prior backers Draper Nexus and Vertex Ventures. Bright Pixel, Portugal Ventures and Wells Fargo Ventures also chipped in.
Based in Porto and Palo Alto, the startup wants to change the way users remotely yet securely gain access to their organisations' servers. Founded in 2017 with a team of currently about 20 employees, the company's solution essentially aims to eliminate the security risks associated with traditional VPN access, as workforces become increasingly mobile across the world.
Three of the company's four founders previously established Remotium, a similar startup that was later acquired by Avast.