Dutch cybersecurity company iSecurity raises $39 million for European expansion

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

Founded in 2020 by former Dutch intelligence and security services professionals, Eye Security provides enterprise-level cyber protection, incident response, and cyber insurance to midsize businesses. The company's platform is touted to offer “high-end protection in one simple package,” with 24/7 monitoring, rapid attack response, and “every business needs the best security.” That's why we offer accessible insurance that provides “enterprise-level protection at non-commercial prices.” ”

Edge Security's solutions can integrate with your existing infrastructure to identify weaknesses, provide actionable insights, and provide rapid human incident response capabilities. The company also helps companies comply with European Union regulations, such as the recent requirement that companies submit a strict cybersecurity breach reporting schedule.

Key features include an average integration time of 2 hours, access to a 24/7 security team, an average response time of 4 minutes, and no email instructions or call center required. The company provides expert human intervention. On the insurance side, Eye Security provides quotes within days rather than weeks through its comprehensive broker network, and claims it has 80% fewer questions during application.

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

“In today's climate of ever-present cyber threats, businesses often struggle to find reliable cyber insurance,” said Mr. Former bureau chief Job Kuipers said: statement. “Eye Security addresses this challenge directly. We have developed a scalable platform that not only strengthens an enterprise's defenses against cyber threats, but also provides insurance quickly. Our comprehensive approach means they are completely protected from cyber risks.”

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

Photo: Eye Security