Predictive cybersecurity pioneer BforeAI closes Series A funding fueling growth as a premier technology solution for cyber defense.
Led by international VCs, this first financing round signals significant opportunity for BforeAI’s technology to redefine cybersecurity.
Montpellier, November 7th 2022 - Montpellier-based BforeAI, the world’s first predictive cybersecurity solution provider, today announced it has closed more than €4M in Series A financing. The company will use the new capital to continue blazing the trail with the first and only suite of predictive cybersecurity solutions. Karma VC (Estonia) and Karista (France) led the round, followed by Addendum Capital (Spain), along with participation from select angel investors who serve as chief information security and chief security officers at Fortune 500 corporations.
The funding comes at a time when cybersecurity attacks cost enterprise organisations over $10 trillion annually. This would make it the third-largest world economy if measured as a country – and arguably the top risk for both global public and private sector health.
“Now, more than ever, enterprises need the strongest possible defense against cybersecurity attacks,” said Luigi Lenguito, CEO of BforeAI. “We are energised by the interest and support demonstrated by investors who share our passion to make the world safer, and this funding enables us to offer more organisations the opportunity to get ahead of cyber threats in a time where humans can no longer keep pace with the speed of machine-enabled attacks."
Founded in 2020, BforeAI has pioneered use of predictive behavioral analysis applied to cybersecurity, scoring more than six million threat vectors daily with an outstanding 99.95%accuracy of precognition. The unique offering, the result of a decade of research, was awarded the prestigious iLAB grant from the French Ministry of Education and Research.
Industry leaders like VirusTotal, Global Cyber Alliance, Quad9 DNS and Anomali partner with BforeAI to receive PreCrime foresights, most recent ConstellaIntelligence signed an exclusive agreement to have Bfore.Ai as key technology provider.
Fully distributed across three continents, the company will use the proceeds to further develop their technology and accelerate sales in North America and North Europe.
“In a market dominated by reactive solutions, BforeAI offers a line of products that help organizations take a proactive stance and stop cyber threats before they even strike, thereby protecting companies and providing reassurance to their boards and shareholders. We are convinced by the quality of the team, by BforeAI's unique technology which has many potential applications in the space domain, and by the company's growth potential. It is therefore an honor for us to support an innovative company like this one.” said Emmanuel Daugeras of Karista.
“Giving accurate predictions to companies about potential cyber threats is a superpower that many cybersecurity companies lack and our fund is excited to back BforeAI team in bringing this unique capability to the global market. Having started to work with the founders and co-investors on this opportunity we think that it will be a strong partnership and they are on a good path towards becoming a very important part of the cyber threat protection ecosystem,” said Kristjan Laanemaa of Karma VC.
BforeAI is the world’s first and only predictive cybersecurity solution provider that stops the most sophisticated cyberattacks before they happen. BforeAI PreCrime™ use the best in artificial intelligence to offer the strongest possible active defense against enterprise-wide cyber crime attacks, thereby helping businesses and consumers neutralise economic, reputational and personal damage.
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About Karma Ventures
Karma Ventures is a venture capital firm focused on investing in European early stage startups that develop unique technologies and demonstrate proven customer traction. It has completed 20 investments since the launch of its first fund in 2016 and the team’s track record includes taking more than 20 companies to successful exits. Karma Ventures’ second fund is backed among others by Baltic Innovation Fund 2 (BIF 2) - an initiative created by cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania and European Investment Fund.
Press contact: Kristjan Laanemaa - firstname.lastname@example.org