Saporo raises EUR 4 million to help companies prevent cyberattacksWednesday 7 December 2022
Saporo uses graph theory to help businesses model, measure and increase their resistance to cyberattacks.
Vaud-based start-up Saporo has raised EUR 4 million to expand its cyberattack prevention product and bring it to more European countries.
Using graph theory and artificial intelligence, Saporo aims to protect SMEs with predictive stress tests that identify potential cyberattack paths. After a successful product launch in January 2022, Saporo saw its customer base triple. The start-up based in Lausanne (canton of Vaud) now serves companies with teams between 500 and 30,000 employees in healthcare, banking, and insurance.
An analysis of customers using the product showed an 80% reduction in attack surface within three months. To achieve these results, the product stress-tests user and system access risks. It uses graph theory and artificial intelligence analysis to test an organization's attack surface and the relationships between assets, users, and computers against millions of possible attack paths. It then measures how much effort hackers would require to compromise critical resources in a deterministic way.
A powerful and simple universal prevention system
Cyberattacks, and the costs for businesses, having been increasing sharply for many years, Saporo built a product for security practitioners, IT administrators, and business application owners.
“Security cannot remain a security expert problem only. We need to empower teams who build and make changes daily to consider the security impact of their decision and help them secure systems by design,” said Olivier Eyries, Co-Founder and CEO of Saporo.
Now that the system can significantly reduce the risk and damage of successful cyberattacks, Saporo will use the newly raised funding in the amount of EUR 4 million to grow its team, expand its product and bring it to more countries and markets across Europe. The round was led by XAnge with participation from previous investors Session VC and Lightbird Ventures
Nicolas Rose, Managing Partner at XAnge, concluded: “We believe that preventive cybersecurity measures will become the new normal for companies around the globe. We are excited to back the Saporo team and their strong conviction that IT security can be greatly improved by being prepared using advanced software that mimics attacks. Their combination of artificial intelligence with a simplified user experience will be the foundation for the teams’ next chapter: helping hundreds of companies protect their business from an ever-increasing flood of cyberattacks.”