Estonian startup scoops €5 million to combat growth in sophisticated cyber attacks
Summary
The round was led by Karma Ventures who were joined by First Fellow Partners, Specialist VC and select angel investors with deep cyber security industry experience. The platorm delivers NIST/NICE-compliant testing and evaluation, as well as seamless integration of highly complex industry-specific core business applications such as directory services, international transfers and payments, 5G, OT/SCADA, and mission critical systems in aerospace and defence. With this additional investment, we want to increase the startup’s market share and help make this cutting-edge technology accessible to a wider customer base globally,” said Margus Uudam, Founding Partner of Karma Ventures. Risto Siilasmaa, the former Chairman of Nokia and Founder of F-Secure, who also led the funding by First Fellow Partners said: “There is no question that cyber range technology will play an important role in building cyber resilience globally and we want to be there when it happens.” Founding Partner Gerri Kodres of Specialist VC, an early investor in the newest Estonian unicorn Veriff, and with stakes in Bolt, Monese, Starship said: “We are looking forward to contributing to getting the product out to more customers and helping CybExer grow and maintain its glogal leadership in cyber range technology.” The platform is planning to significantly bolster its team in development, customer success and sales organisation and expand its global presence. The company has a a premier customer base in more than 30 countries and has hosted on its platform some of the largest multinational cyber security events.
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