Automated cybersecurity platform CyberSmart has scored $10m in its oversubscribed Series A funding round, which will help its global expansion efforts.
The round was backed by deeptech fund IQ Capital, Eos Venture Partners and Winton Ventures.
This investment capital will be used to deepen CyberSmart’s product suite, increase its channel partnerships and scale across the UK and beyond.
The FinTech company claims to drive value for customers and partners via its “golden triangle” approach. This involves protecting their data, ensuring strong security posture and providing tailored and affordable insurance coverage.
Its platform automatically and continuously assesses personal and company devices in real-time, alerting users when security or compliance standards have not been met. Clients are backed by 24/7 cyber threat monitoring and protection.
The company is also working with a number of insurance firms and corporate partners in Europe, including Aviva and Starling, to ensure SMEs are protected from threats.
Eos Venture Partners founding partner Carl Bauer-Schlichtegroll said, “Cyber risks, particularly ransomware and malware attacks, are an ever-increasing threat to small businesses globally, with many SMEs facing a protection gap and lacking the knowledge, expertise, insurance coverage, and access to tools and resources to help protect their organisations.
“The CyberSmart platform is a complete solution to easily support and protect businesses, demonstrated by strong early traction with thousands of customers and large corporate partners already leveraging the platform. We are excited to partner with this exceptional team and co-investors, and look forward to working with the Company to build on their achievements to date, further cementing their position as a leader in the cybersecurity sector.”
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