Lithuanian cybersecurity startup CBRX raises €540k to speed up European enlargement

Vilnius-based cybersecurity startup CBRX has raised €540k in pre-seed funding to additional develop its cloud-based cybersecurity platform and broaden throughout the European Union. The funding spherical included participation from enterprise capital fund Coinvest Capital, together with Scalewolf, Plug and Play Tech Centre, and Firstpick.

CBRX helps managed service suppliers (MSPs) transition into managed safety service suppliers (MSSPs) shortly and cost-effectively. Its AI-powered platform automates incident administration, menace monitoring, evaluation, and buyer help, enabling IT service suppliers to supply cybersecurity providers with out important upfront funding or giant knowledgeable groups.

“This funding spherical is very necessary for us, because it permits us to speed up what we already see as an inevitable shift out there – conventional IT service suppliers (MSPs) are shifting into the sphere of cybersecurity and turning into MSSPs,” stated Kazimieras Sadauskas, CEO of CBRX. “Our aim is to assist them make this transition shortly, with out upfront prices, complicated infrastructure, or the necessity for an costly crew of consultants. This permits service suppliers to begin serving shoppers right this moment, not months or years from now.”

Coinvest Capital contributed €270k to the spherical, marking its eightieth funding and bringing its complete portfolio to 51 firms. “The answer developed by CBRX considerably accelerates cybersecurity processes and enhances general enterprise resilience in opposition to rising digital threats,” stated Viktorija Trimbel, Managing Director at Coinvest Capital. “By democratising entry to superior safety applied sciences, this startup contributes to constructing a safer Europe. We consider the corporate has all of the stipulations to turn into a significant participant in Europe’s cybersecurity ecosystem.”

Nearly all of the funds can be used to strengthen CBRX’s presence in key European markets, notably within the DACH area (Germany, Austria, Switzerland) and the Nordics. The corporate may also spend money on product improvement, specializing in enhancing its AI capabilities to additional automate cybersecurity incident administration and scale back human error.

As well as, CBRX plans to develop its crew, prioritising the recruitment of product improvement and AI specialists to help the platform’s evolution and broaden performance, permitting MSPs to ship superior cybersecurity providers extra effectively.