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.