Cytidel Secures €1.35 Million in Seed Round

by Kay Aloha Villamor in December 20th, 2023

Cytidel, a Dublin, Ireland-based cybersecurity startup has secured €1.35 million in seed funding.  

SaaS Investors  

The round was led by Elkstone Ventures, with participation from Enterprise Ireland.   

Elkstone is an investment firm, focusing on entrepreneurs, senior executives, institutional LPs, the venture community, and the Irish diaspora. Its mission is to increase the economic value and overall well-being of the Island of Ireland by growing its network, enabling deserving investments, and delivering superior investment performance.  

Cytidel Use of Funds  

The funds will be used to grow the engineering function with up to 10 new hires in the next year and expand beyond its first suite of products.  

About Cytidel   

Cytidel, founded in 2021, is an Irish-based SaaS Security & Business Intelligence company that transforms how organizations identify, triage, and remediate their cyber risks. Cytidel’s vulnerability and risk management platform utilizes threat and business intelligence to help IT Security teams overcome a lack of asset visibility, threat insights, and generic risk scores to reduce their breach risk. The company has developed a risk prioritization engine that helps business leaders and executives make efficient decisions by identifying the cyber risks posing the biggest threats to their organizations.  

Funding Details                                   

Company: Cytidel  

Raised: €1.35M                      

Round: Seed Round   

Funding Month: November 2023                                                                             

Lead Investors: Elkstone Ventures  

Additional Investors: Enterprise Ireland  

Company Website:   

Software Category: Cybersecurity  



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