Led by EquityPitcher Ventures, xorlab further received support from existing investors such as Spicehaus Partners, Zürcher Kantonalbank and Hasler Foundation. Several private investors also extended their stake in the company. The funding will fuel xorlab’s growth as the company expands its team and technology to support new customers in Europe and beyond.
The two Founding Partners at EquityPitcher Ventures are convinced that cybersecurity is one of the most crucial topics of today as the increasing number of cybersecurity startups in their portfolio attests. “We decided to lead this financing round as xorlab's product is industry leading and the company will now need to scale globally. We aim to support our portfolio companies during this phase through network, know-how and capital.” said Sascha Horrig, (founding partner). Hermann Koch, (Co-founder) added: “We have been particularly impressed by the diversified and well-educated team with heterogeneous skills and a strong knowledge of the industry.”
Founded in 2015 by ETH Zurich computer science graduates Antonio Barresi and Matthias Ganz, xorlab is building the next generation of enterprise communication defense for companies with high requirements towards business integrity and information protection. xorlab’s security SaaS platform uses machine learning and advanced software analysis to identify and stop emerging cyberattacks on employees, such as Ransomware and Spear-phishing and helps security teams get back control over their data.
Today, many of the largest Swiss companies, including private bank Julius Bär, Swiss Post, the Swiss Federal Railway (SBB), the Swiss telecom provider Swisscom and leading construction company Implenia use xorlab to protect their employees against highly sophisticated, targeted attacks and to automate internal security workflows.
(Press release / RAN)