Swiss cybersecurity firm Saporo has landed €4m in a seed funding round headed by XAnge.
The round also saw participation from fellow investors including Session VC and Lightbird Ventures.
Earlier this year, Saporo raised €2.6m in pre-seed funding. Following this, the company claims it saw a surge in customer requirements from businesses looking to incorporate its technology.
Saporo claims its unique approach using graph theory helps companies build and maintain secure systems by design. Their product enables organizations to model, measure, and increase their resistance to cyberattacks.
Following a successful product launch in January this year, the firm has seen its customer base triple. The firm now serves businesses with teams between 500 and 30,000 employees in healthcare, banking, and insurance. An analysis of multiple customers using their product has shown an attack surface reduction of up to 80 percent within three months.
To achieve these results, the product stress-tests user and system access risks. It uses graph theory and artificial intelligence analysis to test an organization’s attack surface and the relationships between assets, users, and computers against millions of possible attack paths. It then measures how much effort hackers would require to compromise critical resources in a deterministic way.
Saporo will use the newly raised funding to grow its team, expand the product and bring it to more countries and markets across Europe.
Saporo CEO and co-founder Olivier Eyries said, “Saporo built a product for security practitioners, IT administrators, and business application owners. “Security cannot remain a security expert problem only. We need to empower teams who build and make changes daily to consider the security impact of their decision and help them secure systems by design.”
Copyright © 2022 RegTech Analyst
Copyright © 2018 RegTech Analyst
