Enginsight, a German provider of cybersecurity solutions for small and medium-sized enterprises (SMEs), announced that it raised €6M in a fresh round of funding led by UVC Partners, with Carsten Maschmeyer’s seed+speed fund as a co-investor.
The investment will help the company enhance its platform to protect Germany’s SMEs from increasing cyber threats.
Alexander Kölpin, Investor and MD at seed+speed Ventures, says, “We are proud of how Enginsight has expanded and improved its product portfolio in recent years. It is not only large companies that are increasingly at the centre of cyber attacks; SMEs and smaller companies are also being forced to seriously protect their software and hardware systems.”
“Enginsight provides business and administration with an all-in-one security platform plus support and consulting that offers all-round protection made in Germany.”
The funds will help Enginsight to strengthen its market leadership in the DACH region and expand internationally. The company will focus on branding campaigns, growing its sales team, and forming new partnerships while enhancing its software to provide SMEs with optimised, future-ready cybersecurity protection.
What is Enginsight trying to solve?
SMEs, representing 99.4 per cent of the German economy, are vulnerable to cyberattacks due to limited resources and expertise. In 2022, cyberattacks caused €203B in damages, according to the Federal Office for Information Security (BSI).
Various reports call for stronger cybersecurity efforts. Enginsight’s platform aims to protect SMEs from financial losses caused by such threats, benefiting businesses across various industries and sizes, from small to large companies.
Mario Jandeck, co-founder and CEO of Enginsight, says, “Our goal is to ease the burden on IT managers in SMEs and provide them with the transparency and control they need over their networks. Every day, about 70 new vulnerabilities are discovered in software products – a massive threat, especially considering the sensitivity and importance of business data.”
“With our holistic approach, which focuses on threat detection, prevention, and automated vulnerability management, companies can act proactively to protect themselves.”
Cybersecurity for SMEs
Founded in 2017, Enginsight provides cybersecurity solutions designed for small and medium-sized businesses (SMEs). Its software is developed in-house and is used by SMEs and IT service providers to check and improve IT security.
Enginsight’s goal is to make IT security more transparent and automated, helping to reduce the risk of human errors, which are a common cause of cyberattacks. The company aims to offer effective and long-lasting protection for SMEs with its “Made in Germany” solution.
Andreas Unseld, General Partner at UVC Partners, says, “From our perspective, the biggest challenge for many SMEs is the lack of comprehensive solutions that are both affordable and quick to implement.”
“Enginsight’s customers benefit from a pre-configured platform that can typically be deployed and operational within a day. The company combines threat detection, monitoring, and response in a single system without requiring multiple isolated tools. That’s why we believe Enginsight’s offering perfectly aligns with the needs of today’s market.”
Brief about UVC Partners
UVC Partners is a venture capital firm based in Munich and Berlin. It specialises in European B2B tech startups. With over €600M in assets, it typically invests between €1M to €10M initially and up to €30M per startup in sectors like deeptech, climatetech, mobility, and software/AI.
As an independent partner of UnternehmerTUM, UVC Partners has access to deal flow, a network of over 1,000 corporates and SMEs, and talent from the Technical University of Munich. Its portfolio includes companies like Flix, Isar Aerospace, and TWAICE.
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