St. Paul-based Protocol 46, a cybersecurity startup firm formed by several military-intelligence veterans, said it has raised $1.1 million in financing, with the "lion's share" provided by Twin Cities Angels, a group of individual investors.
Protocol 46 provides full service risk management and cybersecurity specifically for small and medium sized businesses with "Defense in Depth," a "plug-and-play military-grade cybersecurity solution for American small and medium sized businesses."
CEO Scott Schue said in a prepared statement: "These businesses are in a tough spot. "They face the same risks of a breach and the same compliance requirements as large companies, but with far fewer tools and solutions available at an affordable cost."
Schue, a veteran of his own IT firm, Target Corp for 14 years in asset protection and information technology, also served 23 years in the military, including the Minnesota National Guard.
Chief Technology Officer Eric Ebner, also a former owner of IT businesses, is a former full-time member of the Guard, where he worked as an intelligence analyst "with a focus on the potential impact of cyber threats to Minnesota government and critical infrastructure," according to the Protocol 46 website.
"We're excited to be working with the outstanding people at Protocol 46," said Chairman John Alexander, founder of Twin Cities Angels. "This is a great investment for our group, and we are looking forward to Protocol 46's rapid expansion to serve the needs of small and medium businesses."
![Michael Fiddelke, Target CFO, at the downtown Target store Tuesday, Feb. 25, 2020, in Minneapolis, MN.] DAVID JOLES • david.joles@startribune.com Three years ago, Target laid out a bold plan to invest $7 billion into its business that paid off better than anyone could have imagined. Executives will head back to New York this week to lay out the next iteration of their strategy.](https://arc.stimg.co/startribunemedia/SVPXUQT5IMZ577JHGLS5NYAPFI.jpg?&w=436&ar=3:2&fit=crop)
