xorlab raises more than CHF 1.2 million to accelerate growth and deliver safe corporate communications
07.07.2020
Over CHF 1.2 million were invested by existing shareholders as well as new investors. Spicehaus Partners AG led the round through its Spicehaus Swiss Venture Fund and will be an active partner for the cybersecurity startup xorlab. The new funding will be used to continue to hire world-class talent to further accelerate the company’s growth and deliver on xorlab’s promise of safer corporate communications.
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xorlab was founded in 2015 and has successfully found product-market fit for its platform ActiveGuard in the enterprise market, currently focusing on the finance, logistics and health sectors. The startup was a Venture Kick winner in 2016 and one of the TOP 100 Swiss startups for the last four consecutive years.
xorlab CEO Antonio Barresi anticipates a successful year with growing sales and revenue, saying, “ActiveGuard is proving that we can keep organizations safe, even while seeing a professionalization of cyberattacks. Our approach of including the employee in the solution, helps enterprises deal with more sophisticated attacks. The interest in becoming a stakeholder of xorlab even during COVID-times has proven our business case and we are excited to grow the business.”
xorlab is already planning a Series A financing round for Q2/3 in 2021, with the intent of keeping enterprise email safe on a large scale.