ETHIACK, a Coimbra, Portugal-based cybersecurity startup, has raised €4 million in seed funding. 

Investors 

The round was led by Explorer Investments, with support from CoreAngels, Paulo Marques, Startup Wise Guys, Aralab, Amena Ventures, and Start Ventures. 

Founded in 2003, Explorer Investments is a private equity firm based in Lisbon, Portugal, managing alternative assets across three asset classes. The firm focuses on investments in private equity, real estate, and hospitality sectors, primarily targeting Portuguese companies. 

ETHIACK Use of Funds 

The company will use the funding to enhance its Automated Continuous Pentesting technology and expand into the UK, Europe, and potentially the US and the Middle East. 

About ETHIACK 

Founded in 2022 by André Baptista, Jorge Monteiro, and Vitor Pinho, ETHIACK provides a SaaS cybersecurity platform that helps organizations prevent cyberattacks and optimize costs and resources through autonomous ethical hacking. Combining human expertise with AI, the platform identifies vulnerabilities in digital systems, detects complex security threats, assesses attack surfaces, and generates compliance reports to meet cybersecurity regulations such as CRA, DORA, and NIS2. ETHIACK has tested over 150,000 digital assets and serves clients across nine countries. 

Funding Details 

Company: ETHIACK, LDA 

Raised: €4.0M 

Round: Seed Round 

Funding Date: December 2024 

Lead Investor: Explorer Investments 

Additional Investors: CoreAngels, Paulo Marques, Startup Wise Guys, Aralab, Amena Ventures, Start Ventures 

Company Website: https://ethiack.com/  

Software Category: Cybersecurity 

Source: https://www.eu-startups.com/2024/12/ethiack-hacks-cybersecurity-with-ai-raising-e4-million/