Kalina Staykova

Kikimora.io has successfully secured €993K in funding for the development of our innovative vulnerability management software. The resources will be invested in product development, marketing and strategic partnerships.

Market Confidence Soars: Kikimora.io Positioned to Capitalize on $400B Cybersecurity Boom by 2030

The leading investors, Vitosha Venture Partners, provided €350K, and the strategic partner, BGO Software Ltd. (a company specialized in software development for the healthcare and cybersecurity industry), contributed €260K. As Kamen Bankovski, one of the partners at Vitosha Venture Partners says:
“Kikimora.io is excellently positioned to capitalize on the rapidly growing cybersecurity market, expected to reach a size of $400B by 2030. The company has generated significant interest, early confirmation of market demand. The team behind Kikimora has substantial experience and a deep understanding of market challenges. We believe in the company’s growth potential, as well as in the team’s vision and its ability to realize it.”

IMPETUS Capital invested €200K through its fund ‘ImVenture II’. This is a follow-up investment in the company, following the convertible loan of €150K in April 2022. The co-founder and Managing Partner of Impetus Capital, Viktor Manev commented “We continue to support Kikimora io because it adds high value and solves a fundamental problem for businesses – analyzing cybersecurity and vulnerabilities quickly and efficiently, without unnecessary expenses”.

Kikimora.io also raised €103K from angel investors through the crowdfunding platform for technological startups, Seedblink. Their investment is consolidated into a trust managed by Seedblink. Two additional angel investors, Iva Tasheva (co-founder of Cyen, a Belgian consultancy in the cybersecurity industry) and Boytcho Boytchev, directly contributed a total amount of €80K.

Back to the Roots: A Story of Innovation and Growth

Founded in 2018 by Network Security Expert Krasimir Kotsev, SoCyber marked a significant milestone in April 2022 when it secured €150K in funding through a convertible loan from ImVenture II, the risk investment fund of IMPETUS Capital. This financial injection was invested for the MVP of Kikimora.io and the strategic expansion of SoCyber into international markets, encompassing the USA, the UK, and Germany. The year 2023 witnessed the natural evolution of the product business into the newly established parent company, Kikimora.io.

Bolstered by extensive industry expertise in cybersecurity, the unified team of SoCyber and Kikimora.io possesses firsthand knowledge of the challenges they diligently address. Fueled by the proficiency of machine learning experts, the team is primed for the subsequent phase of product development. In the words of the founder and CEO, “With the secured funds, our focus shifts towards advancing the product into the realm of artificial intelligence, empowering our clients to proactively prevent and enhance protection against cyber attacks. Concurrently, we remain steadfast in propelling the company’s growth through strategic marketing initiatives, market expansion endeavors, and the attraction of larger clientele. The gratifying aspect is that the investors supporting us in this round are not just financial backers but collaborative partners, united in our pursuit of achieving the ambitious milestones we’ve set for ourselves.”

Kikimora.io: Shaping the Future of Vulnerability Management

Kikimora is a solution aimed at businesses with over 500 employees. Through machine learning, the platform automates the analysis and prioritization of vulnerabilities. The platform also provides a centralized space for monitoring and managing security gaps. This enables users to quickly address issues, make data-driven decisions, and prevent incidents. Automation assists them in saving up to $10,000 in monthly expenses related to IT security.

Introduction:

In the ever-evolving landscape of cybersecurity, staying ahead of potential threats is paramount for businesses. The Common Vulnerability Scoring System (CVSS) emerges as a vital tool, providing a standardized approach to assessing and prioritizing cybersecurity vulnerabilities. This article delves into the significance of CVSS and how it aids businesses in making informed decisions to enhance their security posture.

What is CVSS?

The Common Vulnerability Scoring System (CVSS) is a framework that assigns a numerical score to vulnerabilities, helping organizations gauge the severity of potential security risks. Ranging from 0 to 10, this score provides a clear indication of the potential impact and exploitability of a vulnerability.
Today we will explore the Base Score, which reflects the intrinsic qualities of a vulnerability, considering factors such as exploitability, impact, and complexity. A higher base score signifies a more severe vulnerability.

Understanding the CVSS Base Score:

Exploitability Metrics:

• Attack Vector (AV): Think of this as the “how” of the attack. Is the vulnerability something that can be exploited remotely over the internet, or does an attacker need physical access to your systems?
• Attack Complexity (AC): Consider this as the level of skill and effort required for the attack. Is it something that anyone can do easily, or does it require a highly skilled and resourceful attacker?
• Privileges Required (PR): This is about the level of access the attacker needs. Does the attacker need special permissions, or can they exploit the vulnerability with basic access?
• User Interaction (UI): Does the attacker need someone from your team to unknowingly participate in the attack, or can it happen without any user involvement?
• Scope (S): Think of this as whether the attack changes something fundamental in your system’s security. Does the exploit alter how your security measures work?

Impact Metrics:

• Confidentiality (C): How much of your sensitive information could be exposed? Is it just a little or everything?
• Integrity (I): Consider this as the potential damage to your data. Will it just be altered a bit, or could it be completely compromised?
• Availability (A): How much could your business operations be disrupted? Is it a minor inconvenience or a major outage?

The CVSS Base Score is then calculated based on these factors, providing you with a numerical value between 0 and 10. A higher score indicates a higher level of risk and potential impact on your business. This score can help you prioritize which vulnerabilities to address first, focusing on those that pose the greatest threat to your business operations and data security.

Why is CVSS Important for Businesses?

• Prioritization: CVSS enables businesses to prioritize their response to vulnerabilities. By focusing on those with higher scores, organizations address the most critical issues first, minimizing potential damage.
• Resource Allocation: Businesses can allocate resources more efficiently by concentrating efforts on vulnerabilities that pose the greatest risk. This ensures that cybersecurity measures are implemented where they are needed most.
• Communication: CVSS provides a standardized language for communicating the severity of vulnerabilities. This facilitates clear and effective communication between security teams, IT personnel, and business stakeholders.
• Informed Decision-Making: Armed with CVSS scores, business leaders can make informed decisions about cybersecurity investments. It guides the allocation of resources to areas where they will have the most significant impact on overall security.

Conclusion:

In a world where cyber threats are constantly evolving, having a systematic approach to evaluating vulnerabilities is crucial. CVSS serves as a valuable tool for businesses, offering a standardized and objective means of assessing and prioritizing cybersecurity risks. By understanding and leveraging the insights provided by CVSS scores, organizations can proactively strengthen their defenses and navigate the complex landscape of cybersecurity with confidence.