Outpost24 Announces Completion of €19m Funding Round

Outpost24 Announces Completion of €19m Funding Round

Cybersecurity assessment provider Outpost24 has announced it has closed a new funding round worth SEK 200m (€19m).

The company said the funding, which was led by asset manager Swedbank Rohur and Nordic equity investment firm Alcur Fonder, will enable it to expand its offering and services worldwide.

This comes amid a growth in demand for cloud based security solutions in the past 12 months, with organizations forced to shift to a remote working model.

Outpost24 aims to help organizations identify, assess and prioritize IT vulnerabilities through risk-based insights. In recent years the Swedish firm, which is owned by Monterro, has grown its operations in Europe and the US with the acquisitions of SecludIT and Pwnie Express.

Peter Larsson, managing partner at Monterro and chairman of the board of Outpost24 commented: “This funding round, done during a global pandemic, is a vote of confidence in our full stack security assessment vision. Having seen what a great technology and team we’ve built, our investors are onboard with our mission to help enterprise companies automate cyber hygiene and reduce risks.”

Martin Henricson, CEO of Outpost24 said: “As malware and phishing attacks continue to make their way through corporate defense, there’s a real need for companies to level up cyber-hygiene through continuous assessment and unified security insights. I’m excited to embark on the next stage of growth for Outpost24 by helping our customers meet their risk reduction goals and achieve greater efficiency.”

Last week, cloud security provider Orca Security announced a $55m Series B fund round to expand its cloud security and compliance capabilities.

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