Security-as-a-service (SECaaS) provider My Digital Shield (MDS) has received $500,000 in seed funding from Litera Investments and other private investors.

MDS said it plans to use the funds to provide an enterprise-level security service to IT channel partners and small and medium-sized businesses (SMBs).

“This investment will allow us to expand MDS’s security offerings, build out our team, establish more reseller relationships and grow our sales efforts,” MDS CEO Andrew Bagrin said in a prepared statement.

The MDS solution is designed to “eliminate the serious risks posed by hackers, cyber ransomers and other dark Internet forces looking to bring down networks and steal precious and critical data,” according to the company.

MDS also offers a certified channel partnership program for managed service providers (MSPs), solution providers and value-added resellers (VARs) to help them expand their sales network.

Bagrin told Talkin’ Cloud the seed funding will allow his company to bolster its partner program.

He noted MDS is focused on educating SMBs about his company’s SECaaS solution as well.

“Because My Digital Shield is the first solution of its kind, we will focus on educating the small and medium-sized business market in general on the immediate need for a small business SECaaS solution,” Bagrin said.

The MDS solution’s price starts at $69 per month, and Bagrin pointed out his company’s SECaaS offering is already gaining traction with MSPs and SMBs.

“Small businesses cannot afford in-house IT experts or the expensive Internet security solutions currently on the market and designed for the Global 2000. Our mission is to deliver much-needed protection against cyber threats and intrusion to business owners at an affordable and predictable price, helping them protect their brands and foster growth,” Bagrin said.

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