Dutch cybersecurity firm Eye Security raises $39M for European expansion | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware

Dutch cybersecurity startup Eye Security B.V. has raised €36 million ($39.34 million) in new funding to strengthen its presence in European markets such as Belgium, Germany and the Netherlands and to expand to other countries in Europe through 2024.

Founded in 2020 by former Dutch Intelligence and Security Services experts, Eye Security offers enterprise-level cyber protection, incident response and cyber insurance to midsize businesses. The company’s platform, pitched as offering “high-end protection in one simple package,” offers 24/7 monitoring, swift attack response and accessible insurance – “enterprise-level protection at non-enterprise prices” as “every business deserves top security.”

Edge Sercurity’s solutions can be integrated with existing infrastructure to identify weaknesses and deliver actionable insights, and provide fast, human-backed incident response capabilities. The company also helps businesses comply with European Union regulations, such as the recent requirement for companies to deliver stringent cybersecurity breach reporting timelines.

Key features included an average of two hours to integrate, access to a 24/7 security team, a four-minute average response time and no email instructions or call centers – the company provides expert human intervention. On the insurance side, Eye Security claims to require 80% fewer questions when applying, providing quotes within days and not weeks through a comprehensive broker network.

Eye Security has seen strong growth, with hundreds of customers across the automotive, financial services, healthcare, information technology and manufacturing sectors.

“In today’s landscape, where cyber threats are ever-present, businesses frequently struggle to find reliable cyber insurance,” Job Kuijpers, chief executive officer of Eye Security and a former director of the National Communications Security Agency for the Dutch intelligence service, said in a statement. “Eye Security tackles this challenge directly. We’ve developed a scalable platform that not only strengthens a business’s defenses against cyber threats but also quickly delivers insurance coverage. Our comprehensive approach means our customers are fully protected against cyber risk.”

J.P. Morgan Growth Equity Partners LLC led the Series B round, with existing investors Bessemer Venture Partners LP and TIN Capital LLC also participating. Including the new funding, Eye Security has raised $62 million to date.

Photo: Eye Security

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