Cyber threats blatantly affect the years of hard work and resources put into a company. The ramifications include loss of data, and loss of billions of money. In the wake of recent widespread cyber attack, WannaCry, the firms are looking for adeqaute solutions to ramp up the level of cyber security.
One such Paris-based firm, CybelAngel, offers a cybersecurity solution based on its unique Big Data technology. It has recently raised €3 million from Serena Data Ventures, the Serena Capital fund focused on Big Data and AI.
With this funding, the startup aims to work on its full-scale international development. It will specifically focus on its development in the US, where the company says its “unique value proposition has been confirmed by key institutions”. CybelAngel plans to set up a sales and marketing teams in the US. Post the funding, Bertrand Diard, Venture Partner of Serena Data Ventures, will join CybelAngel’s Board of Directors. Erwan Keraudy, CEO, CybelAngel, says,
This round of funding enables us to address the international market without any further ado. In particular, we can start addressing the American market, where we confirmed that our solution is unequaled. We are thrilled to take on this exciting new challenge with the Serena team, who brings a strong expertise on the subject.
The company’s innovative cybersecurity technology assists firms in protecting companies from document leaks on the Internet. On an everyday basis, it detects one billion sensitive documents that can be accessed freely online which have the capacity to jeoparidize a company’s R&D projects, its client databases, its commercial strategy or even its IT networks.
As soon as the data is made accessible online, CybelAngel locates it and alerts its clients before someone finds it and takes advantage of it.
CybelAngel is also looking to intensify its R&D efforts to improve the performance of the automatic data collection. The main objective is to augment the machine learning and artificial intelligence algorithms that process this enormous amount of data.
