{"id":7042,"date":"2021-06-17T13:45:03","date_gmt":"2021-06-17T13:45:03","guid":{"rendered":"https:\/\/cybersmart.com\/?p=7042"},"modified":"2021-10-03T09:09:07","modified_gmt":"2021-10-03T09:09:07","slug":"press-release-cybersmart-disrupts-sme-cybersecurity-with-10-million-series-a-funding","status":"publish","type":"post","link":"https:\/\/cybersmart.com\/blog\/press-release-cybersmart-disrupts-sme-cybersecurity-with-10-million-series-a-funding\/","title":{"rendered":"Press release: CyberSmart disrupts SME cybersecurity with $10 million Series A funding"},"content":{"rendered":"

CyberSmart<\/a>, UK leader in simple and accessible automated cybersecurity technology for SMEs, has today announced the completion of a successful over-subscribed Series A funding round, bringing the total raised to over $10 million. Alongside deeptech fund IQ Capital<\/a> and with the additional support of InsurTech specialist, Eos Venture Partners<\/a>, and data science-focused Winton Ventures,<\/a> CyberSmart is set to further disrupt the cybersecurity market. The funding will be used to enhance their product\u2019s capabilities further, invest in channel partnerships as well as scale into the UK and beyond. In this way, playing a fundamental part in the company\u2019s long-term goal to protect and empower SMEs globally.<\/p>\n

The company drives value for customers and partners through its \u2018golden triangle\u2019 approach; supporting SMEs in protecting their data, assuring their security posture and providing tailored and affordable insurance coverage. CyberSmart\u2019s intuitive online platform automatically and continuously assesses personal and company devices in real-time, alerting users when security and compliance standards have not been met. SMEs benefit from 24\/7 monitoring and protection, government-grade assurance via Cyber Essentials certification and ongoing support with training, compliance, policies and procedures.<\/p>\n

CyberSmart is collaborating with a number of insurance companies and strategic corporate partners across Europe, including Aviva and Starling, to ensure SMEs are protected and covered, whilst benefiting from reduced insurance premiums and policy excesses.<\/p>\n

\u201cThe amount of support we have received thus far is humbling, and just goes to show the gap there is in the market for our offering. Cybersecurity solutions are often tailored to large enterprises with extensive teams and resources, whilst SMEs are left behind. With the help of our investors, we are challenging this mentality”- Jamie Akhtar, CEO and co-founder of CyberSmart<\/strong><\/p><\/blockquote>\n

 <\/p>\n

It is this comprehensive approach to cybersecurity and a focus on accessibility, both in terms of cost and functionality, that distinguishes CyberSmart from the crowd. This has driven an influx of capital and a wide variety of enthusiastic investors, with many current investors and angels doubling down on their commitment to the company.<\/p>\n

\u201cThe amount of support we have received thus far is humbling, and just goes to show the gap there is in the market for our offering. Cybersecurity solutions are often tailored to large enterprises with extensive teams and resources, whilst SMEs are left behind. With the help of our investors, we are challenging this mentality,\u201d said\u00a0Jamie Akhtar, CEO and co-founder of CyberSmart.<\/strong>\u00a0\u201cStaying true to our mission of empowering SMEs to tackle cybersecurity is paramount. As such, despite the overwhelming interest we received from investors, we have been selective in determining who comes aboard as we define this new category for ourselves.\u201d<\/p>\n

\u201cWe are very excited to partner with Jamie and the brilliant team at CyberSmart. We\u2019ve been impressed by the scalability of the technology, which is helping a fast-growing number of SMEs build their digital presence while staying secure\u201d, said Antoine Pechin, Vice President of Winton Ventures<\/strong>. \u201cWe also think that CyberSmart can play a key role in developing the SME cyber insurance space.\u201d<\/p>\n

\u201cWe are very excited to partner with Jamie and the brilliant team at CyberSmart. We\u2019ve been impressed by the scalability of the technology, which is helping a fast-growing number of SMEs build their digital presence while staying secure\u201d- Antoine Pechin, Vice President of Winton Ventures<\/strong><\/p><\/blockquote>\n

 <\/p>\n

\u201cCyber risks, particularly ransomware and malware attacks, are an ever-increasing threat to small businesses globally, with many SMEs facing a protection gap and lacking the knowledge, expertise, insurance coverage, and access to tools and resources to help protect their organisations, \u201d said\u00a0Carl Bauer-Schlichtegroll of Eos Venture Partners<\/strong>. \u201cThe CyberSmart platform is a complete solution to easily support and protect businesses, demonstrated by strong early traction with thousands of customers and large corporate partners already leveraging the platform. We are excited to partner with this exceptional team and co-investors, and look forward to working with the Company to build on their achievements to date, further cementing their position as a leader in the cybersecurity sector.\u201d<\/span><\/p>\n

\u201cIQ Capital has supported CyberSmart since their seed round and we are tremendously proud of CyberSmart\u2019s rapid growth within the underserved SME cyber protection market,\u201d said\u00a0Kerry Baldwin, Managing Partner at IQ Capital<\/strong>.\u00a0\u201cWe are pleased to continue working closely and to support the team on their growth and international expansion alongside the new investors.\u201d<\/p>\n

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