EU-Startups’ Post

[Blog] 📈🛡️ Our team at Money 20/20 Amsterdam noticed a common challenge for smaller fintechs: balancing rapid growth with robust security measures. Learn more about the risks and how to mitigate them in our blog 👉 http://spr.ly/60449gfs2 While prioritizing innovation is key, cybersecurity can't be an afterthought. Fortunately, there are solutions that empower startups to scale securely. We believe that strong security practices are not just a protective measure but a growth enabler. 🟠 Eviden is committed to helping fintechs of all sizes achieve their goals by providing the tools and expertise they need to build a secure foundation for success. Read our experts' Graham Francis and Quint Ketting insights. #Cybersecurity #FutureOfFinance #RiskManagement #Startups #EvidenMDR #AWSpartners

According to Crunchbase, there has been an alarming 51% drop in cybersecurity funding during Q3 🤯 Investors are clearly tightening their wallets for earlier stagers so #startups need to focus on demonstrating market traction and results whilst staying lean and efficient.    With less funding available, startups must optimise operations and be strategic in how they scale, whether through internal or external financing. They need to ensure that their business can weather the current storm. #Cybersecurity

It’s a paradox: Cyberattacks against governments, companies and individuals are escalating dramatically, lifting cybersecurity spending to a record. And yet there are so many cybersecurity startups competing with each other—and with bigger tech companies such as Microsoft and Palo Alto Networks—that a shakeout in the sector is seen as inevitable. At the very least, some startups will have to accept a big cut to their valuation if they want to raise money. A good example is Israeli cybersecurity startup Noname Security, which raised $135 million in 2021 at a $1 billion valuation. At the time, the company was generating just $3 million in annual recurring revenue, a person familiar with the matter said. Today, with its ARR around $40 million, it is gearing up to raise money again, according to a person familiar with the situation.

🌐Cybersecurity funding back on the rise 🚀 Hackers-for-hire platform Bugcrowd locked up $102 million in fresh funding led by General Catalyst. Bugcrowd’s round is the latest big raise for a cyber company. Last week NinjaOne raised a $231.5 million Series C led by Iconiq Growth at a $1.9 billion valuation.🤑 📉Venture funding for cybersecurity dropped to its lowest total since 2018 last year. Security companies raised $8.2 billion in 692 venture capital deals in 2023 — per Crunchbase numbers — compared to $16.3 billion in 941 deals in 2022. With some large rounds this year, funding has picked up a little through the first month-plus, with $1.3 billion being raised, per Crunchbase data. 📈

With great power comes great responsibility.

They are CyLock; they solve problems 😎 CyLock, a cybersecurity startup in our portfolio, has successfully raised €500,000 in a funding round led by Scientifica Venture Capital, with participation from us, CDP Venture Capital, and Startup Wise Guys. "We don't want to provide just another dashboard for security specialists; we've radically changed the perspective, shifting from a vulnerability management dashboard to a tool that offers concrete solutions to stop hacker attacks," said 🍀 Diego Padovan CEO of CyLock. Since its inception, CyLock has tackled the challenge of a global cybersecurity talent shortage, which leaves organizations vulnerable to cyberattacks costing an estimated $6 trillion annually. EVA, their innovative SaaS solution, self-configures and simulates thousands of attacks with precision, eliminating the need for advanced configuration skills and drastically reducing pentesting time by over 80%. Once again, congratulations to the CyLock team on this incredible achievement! 🚀🔒

"it’s a paradox: Cyberattacks against governments, companies and individuals are escalating dramatically, lifting #cybersecurity spending to a record. And yet there are so many cybersecurity startups competing with each other...that a shakeout in the sector is seen as inevitable. At the very least, some #startups will have to accept a big #cut to their #valuation if they want to #raise money. #funding #technology https://lnkd.in/ehv3VwAv

At Harpoon Ventures, we’re proud to support trailblazers as they continue to shape the future of enterprise security. We're excited to support our portfolio companies, Semgrep, Robust Intelligence and Netskope for making the Fortune Cyber 60 list. Their achievements highlight the power of relentless innovation and the profound impact that cutting-edge solutions can have in protecting our digital world. The Fortune Cyber 60 is a new listing of the most important venture-backed startups that offer enterprise-grade cybersecurity solutions and have not had an IPO, acquisition, or other significant exit event. Lightspeed Venture Partners constructed the Fortune Cyber 60 list by surveying over 300 cybersecurity startups using Pitchbook market data, requesting information on revenue and growth rates, and ranking the respondents by ARR, with growth rate and prior year growth rate as tiebreakers. See the full list here 👇 https://lnkd.in/gdAHwEi6 ⇀

🎉 FIRSTPICK hits a milestone with CyberUpgrade! 🎉 We're thrilled to mark our 2️⃣0️⃣th investment by leading a hefty 💰 EUR 650k pre-seed funding for CyberUpgrade, in collaboration with NGL and angel investors. With a legacy of 👨🏼💻 crafting robust fintech infrastructure, CyberUpgrade's founding team is now set to make cybersecurity accessible for traditional businesses, software owners and tech companies. Here's to a future where every business can safeguard their operations affordably. Hats off to Andrius Minkevičius, Aurimas Bakas, Algirdas Stasiūnaitis, and Nojus Antanas Bendoraitis on this exciting venture! 👏🏼 We are proud to lead this round and support you in building another category-defining company from the Baltics 💜 🦍 #VC #investments #startups #preseed #AI #cybersecurity

📊 Despite major challenges, Israel’s cyber sector is thriving! From AI-driven security to CNAPP and DSPM 🔐, find out how this nation continues to lead in tech innovation. #cybersecurity #AI #TechTrends (link in first comment) 🤖🌍