Spanish cybersecurity company Kymatio closes €500,000 round

Kymatio, which designs employee cyber risk management tools, has reportedly secured €500,000 in a new crowdfunding round.

The investment was raised via the crowdfunding platform TheCrowdAngel, according to a report from Nordic.

One of the investors to contribute to the round was Wayra, a global open innovation hub.

Spain-based Kymatio helps to manage employee cyber risk by anticipating the problems, it claims. The technology is in the pre-incident phase and identifies risks, pointing out critical areas and how to mitigate the potential risks.

Employees interact with the platform via a chatbot which in turn extracts data from their discussions to identify where the person needs help.

There has been 123 funding rounds closed by Spanish FinTech companies between 2015 and 2019, FinTech Global data shows. The majority of these deals have been by companies based in Barcelona and Madrid representing 76.5% of all deal activity in the country.

Between the two cities, despite Madrid being the capital of the country, Barcelona has had more FinTech investments.

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