My Digital Shield on Wednesday said it has accepted $500,000 in funding to assist channel partners with providing security solutions to customers.

A group of private investors that includes Litera Investments led the round of seed financing.

The Wilmington, Delaware-based Security-as-a-Service (SECaaS) provider plans to use the funding to "build out the channel and continue to strengthen the partner program," My Digital Shield CEO Andrew Bagrin told Talkin' Cloud in an interview.

"In addition, 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," he said.

As far as the possibility of My Digital Shield accepting future funds, Bagrin said the company will "evaluate our situation and pursue a Series A round when the time is right."

"We will continue to improve the product, focusing on making it even easier for the channel to sell through, as well as build on the program to provide even more benefits to partners," he said.

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