Built upon ideals of automated solutions in the cybersecurity compliance space, startup Bytechek has garnered both attention and funding from the venture capital community — $3M to be exact.
The funding serves as a vehicle for the expansion of the startup, launched in November 2020 by Florida native and founder AJ Yawn. AJ’s extensive expertise ranging from nearly 6 years in cybersecurity for the army to performing numerous audits for highly regulated companies lead to the development of Bytechek.
With a 40% increase in customer base in a mere 2 months, the company is tapping into the rapidly increasing governance, risk, and compliance market, projected to grow from a current revenue of $36.4B to $73B in 2027.
Aims of creating an increasingly diverse and progressive team is at the core of Bytechek’s plans as they continue to develop an environment rooted in authenticity and compassion. AJ describes a culture where traditionally toxic work barriers like code switching and burnout are left at the door.
“Over these next few months, we plan on being intentional about growing the business in a manner that is focused on people and solving really important problems for our customer”, AJ states as he describes their goals.
Putting women and minorities in leadership and cultivating an environment where mental health is destigmatized are priorities as Bytechek increases its team.
AJ’s success in securing the funding needed to expand derived predominantly from Black angel investors, highlighting the power behind community.
“It’s really cool that 80% of our $3M round came from Black lead funds or Black angel investors. Hopefully it can show another Black founder that there’s enough of us out here you can raise money from, people that look like you and understand you”, shares AJ.
While funding for Black entrepreneurs increased, Black startup entrepreneurs still only recieved a fraction-1.2 percent of the record $147B in venture capital invested in US startups the first half of the year alone.
Successes by Black founders like AJ are in part due to the kinship and relatability factors amongst Black startups and investors, highlighting the importance of unity and collaboration.
Bytechek’s rapid upward trajectory exemplifies the power of innovation met with the right investments.