The Switzerland-based, AI cybersecurity startup Saporo, secures €4 million in a seed funding round.
The investment round was led by XAnge, with participation from previous backers Session VC and Lightbird Ventures.
The startup will use the fresh funds to increase the size of its workforce, develop the product, and introduce it to other markets in Europe. The announcement comes 10 months after the company secured a €2.6 million pre-seed investment in January, making a total raise of €6.6 million to date.
Security cannot be solely a problem for security professionals. According to co-founder and CEO Olivier Eyries, “We need to empower teams that build and make changes every day to think about the security implications of their decision and support them in securing systems by design.
Saporo, helps organizations to strengthen cyber resistance by prioritizing and lowering user access risk. The startup rates an organization’s resistance to attacks and identifies the most effective adjustments to boost cyber resistance by analyzing configuration and user access data using AI and graph technologies.
“An analysis of several customers who have been using their product has revealed a reduction in attack surface of up to 80% in just three months,” claims Saporo.
The business accomplishes this by stress-testing user and system access risks in its product. The Swiss business added that it has created products for security experts, IT managers, and proprietors of business applications.
According to Saporo, the number of its customers has tripled. The startup now works with businesses in the banking, insurance, and healthcare sectors.
“We believe that proactive cybersecurity measures will become the new norm for enterprises around the world. We are thrilled to support the Saporo team in their firm belief that IT security can be significantly enhanced by being proactive and using cutting-edge software that simulates attacks,” says Nicolas Rose, Managing Partner at XAnge.
Nicolas further said, “The foundation of the team’s next chapter will be helping hundreds of companies protect their operations from an ever-increasing flood of cyberattacks through the combination of Artificial Intelligence and a streamlined user experience.”
“We’re already seeing a significant impact being made on the businesses using Saporo’s solution,” says Benjamin Solenthaler, the managing partner at Lightbird VC. “Some customers have seen an 80 percent reduction of their internal attack surface in just one day! With Saporo, all organizations can stay ahead of emerging cyber issues and be better prepared to fend off assaults. We look forward to supporting the team even more and watching the business expand in 2023 and beyond.
According to Session VC’s founding partner Martin Altorfer, “Too many issues appear to make the shortlist of priorities for most organizations today. However, bolstering the defense is essential, particularly given how frequently circumstances and technology change.”
“By prioritizing the risk, Saporo removes the hardest part of the work and provides customers with the information and advice they need to take immediate action. We are confident that this incredibly potent solution will fundamentally alter how risks are evaluated,” continued Martin.
Image Credit: Saporo
