Binalyze, Estonian enterprise forensics platform, secures €9.1M seed investment
The Tallinn-based Binalyze has secured €9.1 million during a seed round to help companies deal with cybersecurity threats. The round was led by the venture capital firm OpenOcean with participation from the existing investor Earlybird Digital East, EU-Startups informs.
- Founded in 2018 by Emre Tinaztepe, Binalyze develops digital forensic tools for enterprises that help to understand the full extent of a cyber breach. According to the startup, its software remotely, securely, and automatically collects more than 120 digital forensics artifacts and creates a report in under ten minutes.
- Binalyze has grown quickly. Its annual revenue multiplied 20 times in the past year alone. It already has a customer base that includes international brands and companies, including global banks, auditing companies, airlines, and telcos.
- OpenOcean is an early-stage VC firm investing in B2B software across Europe with offices in London, Helsinki, and Amsterdam.
- Earlier in 2021, Binalyze raised €1.5 million in a pre-seed round from Earlybird Digital East, according to Crunchbase.
- The fresh funds will allow Binalyze to further develop innovations in the digital forensics realm and support the extension of Binalyze’s cloud-native capabilities.
- The proceeds will also accelerate the startup’s expansion to the US and Europe.