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: https://www.cytidel.com/
Software Category: Cybersecurity
Source: https://www.cytidel.com/post/cytidel-raises-1-35-million-to-transform-how-organisations-protect-themselves-from-cyber-attacks