Irish startup Cytidel secures €1.35m for innovative cyber risk solutions

Irish startup Cytidel secures €1.35m for innovative cyber risk solutions

Cytidel, an Irish-based SaaS security and business intelligence company, recently announced a significant financial milestone, securing a €1.35m seed round.

This investment round was led by Elkstone Ventures, alongside Enterprise Ireland.

Cytidel specialises in enhancing the efficiency of cybersecurity teams. The company’s innovative risk prioritisation engine plays a crucial role in identifying and mitigating cyber threats, thereby protecting vital revenue streams and customer data. It particularly focuses on enabling businesses to make informed decisions about the cyber risks posing the greatest threat.

Cytidel CEO Matthew Conlon commented on the funding, “Every day, over-stretched cyber security professionals are faced with thousands of new security vulnerabilities and little time or resources to fix them all. We developed a platform that helps them to get clarity from the noise, significantly improving their ability to identify and fix the cyber risks posing the greatest threat to their revenue streams. In a world where cyber threats are increasing 25% year on year, Cytidel provides actionable insights and clear remediation guidance.”

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