Xorlab Raises CHF 1.9m to Expand Email Cybersecurity Business
13.12.2018
Xorlab AG, which sells software to detect email phishing attempts and malware attacks, raised 1.9 million Swiss francs from investors including Zürcher Kantonalbank AG and Hasler Stiftung, to grow more quickly.
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Zurich-based Xorlab, which uses machine learning and advanced algorithms to protect clients from email cyber-attacks, already includes Swiss private bank Julius Bär and software maker Netcetera AG among its clients.
“Cybercriminals make effective use of email to deliver their attacks. With 9 out of 10 attacks starting with an email and with damages per breach quickly reaching millions, companies and their employees need better solutions to minimize their risk when communicating over email,” chief executive officer Antonio Barresi said.
The Zurich-based company, spin-off from the Federal Institute of Technology in Zurich, ranked among Switzerland’s TOP 100 startups this year after winning Venture Kick’s 130,000-franc seed financing in 2016.
“Venture Kick encouraged us to take the leap and found xorlab AG. Besides the financial kick, we profited enormously from the coaching and support throughout the stages! The networking platform established by Venture Kick over the years was a great help and is still very important to our success”, Barresi said in an interview.
“Cybercriminals make effective use of email to deliver their attacks. With 9 out of 10 attacks starting with an email and with damages per breach quickly reaching millions, companies and their employees need better solutions to minimize their risk when communicating over email,” chief executive officer Antonio Barresi said.
The Zurich-based company, spin-off from the Federal Institute of Technology in Zurich, ranked among Switzerland’s TOP 100 startups this year after winning Venture Kick’s 130,000-franc seed financing in 2016.
“Venture Kick encouraged us to take the leap and found xorlab AG. Besides the financial kick, we profited enormously from the coaching and support throughout the stages! The networking platform established by Venture Kick over the years was a great help and is still very important to our success”, Barresi said in an interview.