Lithuanian startup Cyber Upgrade has recently secured €650k in pre-seed funding to bolster small and medium-sized enterprises (SMEs) against the rising tide of cybersecurity threats in the European Union (EU). This funding will enable Cyber Upgrade to further develop its innovative cybersecurity solutions and provide SMEs with the necessary tools to protect their digital assets.
In today’s interconnected world, businesses of all sizes face an increasing number of cyber threats. SMEs, in particular, are vulnerable targets due to their limited resources and often inadequate cybersecurity measures. Recognizing this gap, Cyber Upgrade aims to level the playing field by offering affordable and effective cybersecurity solutions tailored specifically for SMEs.
The €650k pre-seed funding round was led by venture capital firm Practica Capital, with participation from angel investors. This injection of capital will allow Cyber Upgrade to accelerate its product development, expand its team, and enhance its market reach across the EU.
Cyber Upgrade’s core offering is a comprehensive cybersecurity platform that combines advanced threat detection, incident response, and vulnerability management capabilities. The platform utilizes cutting-edge technologies such as artificial intelligence and machine learning algorithms to proactively identify and mitigate potential cyber threats.
One of the key advantages of Cyber Upgrade’s solution is its user-friendly interface, designed with SMEs in mind. The platform provides a simple and intuitive dashboard that allows business owners and IT administrators to monitor their network security in real-time, identify vulnerabilities, and take immediate action to prevent potential breaches.
Moreover, Cyber Upgrade offers personalized cybersecurity training programs for SME employees. These programs aim to educate staff members about common cyber threats, such as phishing attacks and social engineering techniques, and provide them with the knowledge and skills to recognize and respond to these threats effectively.
The importance of cybersecurity for SMEs cannot be overstated. According to recent studies, over 60% of small businesses that suffer a cyber attack go out of business within six months. Furthermore, the EU General Data Protection Regulation (GDPR) imposes hefty fines on companies that fail to adequately protect customer data, making cybersecurity a legal and financial imperative for SMEs operating within the EU.
With the support of Cyber Upgrade’s solutions, SMEs can significantly reduce their vulnerability to cyber threats, safeguard their sensitive data, and maintain the trust of their customers. By offering affordable and accessible cybersecurity tools, Cyber Upgrade aims to empower SMEs to protect their digital assets and focus on their core business operations without the constant fear of cyber attacks.
The pre-seed funding secured by Cyber Upgrade is a testament to the growing recognition of the importance of cybersecurity in today’s digital landscape. As cyber threats continue to evolve and become more sophisticated, it is crucial for SMEs to invest in robust cybersecurity solutions. With Cyber Upgrade’s innovative platform and personalized training programs, SMEs in the EU can now fortify their defenses against cyber threats and ensure the long-term success of their businesses.
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- Source Link: https://zephyrnet.com/lithuanian-startup-cyber-upgrade-secures-e650k-pre-seed-to-empower-smes-against-cybersecurity-threats-eu-startups/