Estonian startup Binalyze raises $19M in Series A funding

Tallinn-based digital forensics startup Binalyze has raised $19 million during its Series A investment round. This round was led by Molten Ventures with participation from Earlybird Digital East, OpenOcean, Cisco Investments, Citi Ventures, and Deutsche Bank Corporate Venture Capital.

• Founded in 2018 by Emre Tinaztepe, Binalyze is a leading provider of cutting-edge Digital Forensics and Incident Response (DFIR) solutions. 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’s state-of-the-art AIR platform enables enterprises and managed security services providers (MSSPs) to leverage speed, automation, collaboration, and unmatched forensic visibility.

“Investigation speed post-incident is crucial, but has been hampered by market fragmentation and complex IT systems. Binalyze flips this on its head, with rapid results via advanced automation and multi-platform support. This is a game-changer for Security Operations Centers after an attack, and we’re thrilled to back the team as they transform the DFIR market,”

Edel Coen, Principal, Molten Ventures, comments.

• Molten Ventures, a London-based venture capital firm, is the lead investor. The round was also joined by new strategic investors Cisco Investments, Citi Ventures, and Deutsche Bank Corporate Venture Capital.
• In February 2022, the company managed to secure around $9 million during its seed investment. Back then, the round was led by Earlybird Digital East and OpenOcean, who also participated in the current round as existing investors.
• This significant investment will enable Binalyze to advance its mission to deliver the most comprehensive, end-to-end DFIR investigation platform leveraging: lightning-fast speed, advanced automation and integration capabilities, and efficiency-driving collaboration features.