Dutch cyber security startup SecurityMatters raises ‘above $5M’ in funding

Eindhoven-based Cyber Security specialist SecurityMatters has secured their financial matters for the foreseeable future, as the scaleup has raised an impressive amount of funding from several VC’s. An international venture capital team  has invested in the EIT Digital scale-up. The team is led by Swiss Emerald Technology Ventures and consists of German VC’s Robert Bosch Venture Capital and Phoenix Contact Innovation Ventures joined by KPN Ventures from The Netherlands.

Self-configurating and self-learning security

SecurityMatters provides a solution that traces cyber-attacks and looks after security and monitoring of critical information systems at organisations. The scale-up claims their software is better at tracking cyber-threats than other tracking devices due to its self-configurating and self-learning structure. The Brabant-based business is servicing clients in several different sectors such as electrical energy, oil and gas, drinking water, pharmacy and infrastructure. The company was founded in 2009 by Damiano Bolzoni, Sandro Etalle and Emmanuele Zambon.

Money don’t matter 2 night

Although SecurityMatters does not want to disclose the exact amount of funding they have received, Bolzoni indicates the total amount would be north of $5 Million (€4.5 M). According to SecurityMatters however, the money is not what matters here: “The message is that with this investment we can take our business to the next level and expand our International Marketing & Sales and Support teams” the founder explains. Bolzoni is bullish about the possibilities the funding delivers:

“Now SecurityMatters can position itself worldwide to compete with the biggest players on the global stage. When we founded our company seven years ago we knew exactly what technology we wanted to develop, and we have stayed faithful all that time to develop the best product in the market. Thanks to the support of EIT Digital and thanks to our proven solution we have managed to get Robert Bosch Venture Capital on board as one of our strategic investors”.

Thanks to Teamwork

In a post on his Linkedin-page, Bolzoni’s co-founder Sandro Etalle emphasizes how getting the investors on board was a case of teamwork. He gives major credits to EIT digital and to the company’s legal team:

“This round has been possible thanks to the amazing team we have, and by the fact that Damiano and I have been assisted by truly outstanding people: Alessandro Foti and our lawyer Eliane Koelmans did a terrific job in assisting us, while the people at EIT digital (Daniel Michel, Ben McClure and Bram Spitzer) did a tremendous job opening dozens of doors for us”.

Etalle also announces he will leave the management team in order to become the chairman of Security Matters’ newly formed Board of directors.

Access to €70M worth of financing

For EIT Digital the succesful funding round is quite a milestone as well. With its Digital Access to Finance program, EIT Digital aims to get founders in contact with European and international investors who are looking for fastgrowing companies to invest in. So far EIT Digital has raised €70M worth of funding for European companies. As EIT Digital’ s head of Access to Finance, Daniel Michel sounds like a proud parent: “SecurityMatters secured a terrific pan-European series of funding. This company can realise its ambitions with the backing of an experienced international financial investor and a well-known corporate venture investor”.