Saporo, a Lausanne, Switzerland-based AI-cybersecurity startup, announced that it has secured €4 million in a seed funding round led by XAnge, with participation from previous investors Session VC and Lightbird Ventures.
The funds will be used to grow its team, expand the product and bring it to more countries and markets across Europe. The announcement comes ten months after raising a pre-seed investment of €2.6 million in January.
“Security cannot remain a security expert problem only. We need to empower teams who build and make changes daily to consider the security impact of their decisions and help them secure systems by design,” says Olivier Eyries, co-founder and CEO.
The company’s claims, based on analysis of multiple customers using their product, have shown an attack surface reduction of up to 80 percent within three months, and it claims that it has tripled its customer base.
The startup now serves companies with teams of between 500 and 30,000 employees in healthcare, banking, and insurance.
Company: Saporo, SA.
Raised: €4.0M
Round: Seed Round
Funding Month: December 2022
Lead Investors: XAnge
Additional Investors: Session VC and Lightbird Ventures
Company Website: https://www.saporo.io/
Software Category: AI Cybersecurity
About the Company: Founded by brothers Olivier and Guillaume Eyries and Éric Blavier, Ph.D., Saporo, is a cybersecurity company that enables organizations to increase cyber resistance by prioritizing and reducing user access risk. Using AI and graph technologies to analyze configuration and user access data, Saporo scores organizations’ resistance to attacks and finds the most impactful changes to increase cyber resistance. Saporo helps organizations increase their cyber-resistance no matter their size or industry. Currently, it employs around 22 people from nine different countries. Saporo’s mission is to help organizations increase their cyber resistance, no matter their size or industry.
Source: https://techfundingnews.com/founded-by-brothers-this-swiss-startup-gets-e4m-to-fight-cyberattacks-with-ai/