Kovrr is an Israeli cyber-rocketing company that has just raised 5.5M$ in a financing round in which Banco Sabadell has participated through InnoCells, its digital innovation "hub" and a vehicle for "innovation and development".Corporate Venturing".
Cyber-attacks generate costs in the billions and affect all categories exposed and prone to cyber-attacks. In the one-year period alone, from 2016 to 2017, cyberattacks doubled from 80,000 to 160,000, and the cybersecurity market is expected to grow from a premium of $5 billion this 2019 to more than $23 billion by 2025.
Kovrr provides access to an end-to-end cyber risk modernisation platform for major insurers to quantify and manage cyber risks.The company has launched a cutting-edge technology solution that non-intrusively and accurately assesses the cyber-risks that threaten SMEs.
Precisely for its growth and the development of its product, the company has just been awarded a financing round de 5.5M$in which, in addition to InnoCellsalso participated StageOne Ventures and Alma Mundi Ventures.
INNOCELLS' OTHER TECHNOLOGY INVESTMENTS
But this is not the only digital investment that the hub has made, and it brings Banco Sabadell to new technological capabilities.
In 2018, it led a €1M investment round in Biometric Vox5.7M€ in Mexican start-up UnDosTres, €5.7M€ in Antai Venture Builder7.5M€ in Cardumen Capital and €10m in Base10.
In total, Banco Sabadell has allocated more than €200m to finance start-ups, has more than 3,000 start-up clients and has invested in more than 70 start-ups.
OTHER ROUNDS IN THE SECTOR
FINTONIC
Fintonic is the leading personal finance app in SpainThe new "EIB", which allows its users to better control their finances in order to meet their financing needs and make savings.
It has recently closed a new financing round of 19M€Series C, which values the company at 160 million, an operation led by ING Ventures, but which has also had the support of other major shareholders such as the PSN group.
HDIV SECURITY
This Startup specialising in cybersecurity has been able to lift 1M$The aim of the seed round is to accelerate its international expansion and to develop its product.
Hdiv Security protects applications, APIs, and microservices in real-time through the adoption of the DevSecOps development philosophy, and supports popular development approaches and cloud deployments by natively integrating with applications.