Estonia

[Funding alert] Tallinn-based BotGuard OÜ Secures €12 Million in Series A Round Funding

Mar 14, 2024 | By Startup Rise EU

BotGuard OÜ, Estonian cybersecurity software firm that assists web hosting companies with traffic control and infrastructure protection against hostile threats. MMC Ventures led a €12 million Series A fundraising round for BotGuard OÜ.

BotGuard OÜ, Estonian cybersecurity software firm that assists web hosting companies with traffic control and infrastructure protection against hostile threats. MMC Ventures led a €12 million Series A fundraising round for BotGuard OÜ.

An Prominent angel investor Stefan Lindeberg invested in the round together with current backers Tera Ventures and Expeditions Fund. With this most recent investment, the company will be able to grow its sales and marketing teams, hire tech development talent, and further its technological advancements as it continues to scale internationally.

Read also - London-based Cogna Secures £3.76Million in Funding

Website owners are at risk from dangers like DDoS assaults, frauds, and data theft because bots account for nearly half of all internet traffic. Everything utilises "good bots": every social media platform, CMS, and payment system makes use of them.

RECOMMENDED FOR YOU

recomd
Funding
[Funding alert] London-based Magic ID Secures €350K in a Pre-Seed Round Funding
Startup Rise EU
Nov 22, 2023
recomd
Funding
Web3 Video Games Startup GFAL Secures $3.2Million in Seed Funding – FUNDING NEWS
Startup Rise EU
May 1, 2024
recomd
Funding
[Funding alert] HireAra Raises £450k for AI that Helps Recruiters Place Candidates Faster
Startup Rise EU
Jan 31, 2024

On the other hand, ineffective bot traffic can increase expenses and negatively impact operations. Modern cloud-based solution, designed for ease of implementation, is what BotGuard OÜ has created.

By collaborating with hosting companies, it helps website owners filter web traffic, cut down on website maintenance expenses, safeguard their infrastructure, and safeguard their precious assets. The start-up offers platform-neutral, platform-agnostic web security for businesses, automating the installation process and cutting expenses with AI and other cutting-edge technolog.

Nik Rozenberg, CEO and co-founder at Botguard OÜ, said: “Every business should have effective web traffic management, yet there are no affordable solutions focused on the SME segment due to complicated and expensive onboarding processes. Malicious bot traffic can be extremely harmful for businesses – particularly for the likes of e-commerce retailers that depend on their website to operate – and organisations require tools that keep pace with the rapidly-evolving threat landscape. Even neutral web traffic – like some crawler bots – can drive up management costs. We are democratising web security by offering web hosting providers a flexible, easy-to-use, and cost-effective solution that still offers the highest level of control over web traffic. We are excited for this next stage of our growth journey as we continue to innovate and expand into new territories.”

Engineers Denis Prochko, CTO, and Nik Rozenberg, CEO, established BotGuard OÜ in Estonia in 2019. BotGuard OÜ was established in 2016 and is a global company with clients and partners in over 30 countries. It was inspired by the co-founders' experience leading and growing startups and fighting dangerous bots and hackers on their own websites. Renee Stromberg, a former CMO at Cisco, Acronis, CDS Cagri Ozcinar, an ex-Samsung employee, CPO Jason Haworth, an ex-AWS employee, COO Martin Pawliczek, an ex-GoDaddy workers, and Host Europe Group member are among the industry heavyweights on the company's executive team.

Mina Samaan, Partner at MMC Ventures, added: “Born from the pain of living through this problem, Nik and Denis have built an impressive business, and the incredible traction BotGuard OÜ has seen to date demonstrates how well they understand this problem. As generative AI makes the malicious threats businesses are facing even more sophisticated, the BotGuard team has its own AI-powered solution – effectively fighting AI with AI. We share their vision in growing together to build a secure internet that is accessible to everyone.”

Stanislav Ivanov, Founding Partner at Tera Ventures, commented: “There’s an addressable market of over 300 million websites that require the level of protection Botguard OÜ can provide. By partnering with web hosting providers, the business has achieved an economy of scale to SME websites. The company is putting hosting providers in the driver’s seat, providing them with a straightforward and robust solution which protects against myriad web threats and offers complete control over web traffic. We look forward to offering the team our continued support as they scale the business globally.”

About BotGuard

Founded in 2019, BotGuard is a European business with its main office located in Tallinn, Estonia. With clients and partners in over 30 countries, they operate internationally and create cutting-edge online tools that are simple to use to shield businesses from contemporary online threats.

Read also - London-based Ada Ventures Secures €73.7 Million in Funding

Global cyber technology platform committed to defending  their website against contemporary online threats such as malicious bots, crawlers, scrapers, and hacker attacks.

Recommended Stories for You

story
Funding

[Funding alert] Hamburg-based suena Secures €3 Million in Seed Funding

Startup Rise EU Dec 20, 2023

story
Funding

[Funding alert] Lisbon-based LUGGit Secures €1.8 Million in Funding

Startup Rise EU Nov 21, 2023

story
Funding

[Funding alert ] Paris-based Metyos Secures €2.3 Million in Pre-Seed Funding

Startup Rise EU Mar 26, 2024

story
Funding

[Funding alert] London-based EyeBiotech Company Secures $65M Additional in Series A Round Funding

Startup Rise EU Nov 20, 2023

story
Recent Articles

[Funding alert] Krakow-based edrone Secures €4.6 Million in Funding

Startup Rise EU Feb 2, 2024

story
Funding

[Funding alert] London-based Launchbay Capital Secures $100Million in Funding

Startup Rise EU Jan 24, 2024