ESProfiler, a pioneering British cybersecurity startup, announced a €3.2 million seed round, led by Nauta Capital. This significant milestone builds on the momentum from notable angel investments received in 2023. The newly secured investment will fuel ESProfiler’s commercial growth, enhance product development, and add substantial new capabilities to its platform.
Louis Holt, CEO and Co-founder of ESProfiler, expressed his enthusiasm: “Partnering with Nauta Capital marks a significant step in our journey towards offering continuous security investment validation to enterprises. This funding is not just a financial boost but a validation of our vision at ESProfiler. It will accelerate our engineering efforts, expanding our platform’s capabilities and reach.”
Founded in 2020 with a mission to tackle the widespread inefficiencies in enterprise cybersecurity investments, ESProfiler is emerging as a game-changer in the industry. The founding team, leveraging their first-hand experience, identified critical gaps in how cybersecurity tools were being utilized. These tools often overlapped, were underutilized, and misaligned with the actual methods of adversaries and continued a frustrating cycle of inefficient security tooling churn.
This challenge is exacerbated by a lack of standardization within the cyber market. Chief Information Security Officers (CISOs) are navigating a labyrinth of marketing jargon, struggling to quantify the effectiveness and relevance of their growing security portfolios. This struggle is set against a backdrop of tightening budgets and escalating pressures from boards to justify cybersecurity expenditures.
ESProfiler’s platform is an amalgamation of financial and commercial insights with a cutting-edge threat model. The platform quantifies what security investments do against the evolving ways adversaries attack organisations. ESProfiler empowers CISOs to focus on the most pertinent threats and continuously optimize their investments for maximized security returns. It offers a comprehensive view of an enterprise’s security capabilities, identifies gaps and efficacy, and provides the vital commercial and financial data needed for informed decision-making.
Pratima Aiyagari, London-based Partner at Nauta, added: “ESProfiler has created a new way for CISOs to operate. It provides continuous analysis of security tools and their performance. With this intelligence, any company’s security can be optimized to help teams do more with what they have. For the first time, companies can rationalize their security budget based on hard data. In today’s economic environment, that’s a huge advantage – and one that positions security as a business driver and competitive advantage for the long term.”
Read the orginal article: https://www.eu-startups.com/2024/02/manchester-based-esprofiler-raises-e3-2-million-to-help-enterprises-maximize-their-roi-on-security-investment/
