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This cybersecurity startup protects the German government, European Central Bank; raises 8-digit investment from Round2 Capital

Editorial team by Editorial team
November 5, 2020
in (Crowd)funding, Cybersecurity, News, Software & SaaS, Startups
Round2 Capital
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A couple of weeks back, Round2 Capital closed a €30M funding from both new and existing investors to invest in SMEs through non-dilutive revenue-based loans. 

Recently, the Vienna-based growth capital investment firm expanded its existing partnership with Myra Security, a German cybersecurity company with an 8-digit investment. 

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“So far, we have grown entirely on our own – the new funds will mean we can offer even more services and performance to our customers,“ says Sascha Schumann, CEO of Myra. 

Investment in cybersecurity peaks 

Cybersecurity investment has been on the rise amidst pandemic as many employees try to access sensitive data from their homes. At this point, one of the top priorities for a lot of businesses is safety. As a result, both the public and private sectors have started to increase spending on cybersecurity and defense. 

Security-as-a-Service platform

Based out of Munich, Myra Security offers a certified Security-as-a-Service platform for protecting digital business processes. The smart Myra technology monitors, analyses, and filters harmful Internet traffic before virtual attacks can cause any real damage.

Stefan Nagel, the partner at Round2 Capital, adds: “The protection of data traffic and networks is becoming ever more crucial as digitalization accelerates and value-at-risk increases. The two founders have established Myra as a reliable partner in this market and their sustainable and value-oriented approach will continue to pay off well into the future”

Deals with high-profile clients

The German startup deals with high-profile clients including the German Government with over 500 domains, ministries such as the Federal Ministry of Health, the European Central Bank (ECB), the savings bank finance portal, and other financial institutions as well as internationally active e-commerce players.

According to Myra, its systems and processes are regularly subjected to rigorous testing by internal and external experts. Pen tests, audits, and demanding certifications are part of its quality assurance. It has the most extensive range of stringent certifications in the industry, claims the company.  

Revenue-based financing

Founded in 2017, Vienna-based Round2 Capital Partners is a growth capital investment firm that invests in small and medium-sized businesses through non-dilutive revenue-based loans, with a predominant focus on SaaS and innovative Hardware/Software combinations.

Unlike rigid repayment plans of bank loans or venture debt instruments, the Austrian company offers repayments in revenue-based finance, and, therefore, tied to monthly revenue. This enables the repayments to adapt to cash flows – increases when revenues are strong, and goes down when revenues are weak.

Main image credits: Round2 Capital

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