Lithuanian cybersecurity startup CBRX raises €540,000 to accelerate AI-driven cybersecurity expansion across Europe

CBRX, a Lithuanian cybersecurity startup, has raised a €540,000 pre-seed investment, which will be used to develop the company’s cloud platform and expand its presence within the European Union. The funding round was backed by Coinvest Capital, accelerators Scalewolf, Plug and Play Tech Center, and venture capital fund Firstpick.

About CBRX

• Founded in 2023 as Cyberalert by Kazimieras Sadauskas and Audrius Miknevičius, CBRX creates solutions for the cybersecurity world addressing today’s challenges and anticipating and mitigating future risks. The fresh rebranding translates the company’s new focus on revolutionizing the cybersecurity field using cutting-edge technology.

• Their new AI-based solution for Security Operations Centers is to automate up to 90% of cybersecurity analysts` work, allowing them to focus on what truly matters. CBRX states that by utilizing state-of-the-art AI technology, the product streamlines cybersecurity incident analysis, and response, enabling cybersecurity professionals to focus on more strategic tasks and improving overall efficiency.

“This investment round is especially important for us, as it allows us to accelerate what we already see as an inevitable shift in the market – traditional IT service providers (MSPs) are moving into the field of cybersecurity and becoming MSSPs. Our goal is to help them make this transition quickly, without upfront costs, complex infrastructure, or the need for an expensive team of experts. This enables service providers to start serving clients today, not months or years from now. The investment will not only strengthen our technological advantage but also help CBRX become one of Europe’s leaders in the transformation of MSPs into MSSPs,” said Kazimieras Sadauskas, CEO of CBRX.

Investment details 

The funding round was backed by Coinvest Capital, accelerators Scalewolf, Plug and Play Tech Center, and venture capital fund Firstpick.

• Coinvest Capital is an early-stage venture capital fund established by Lithuania’s national development institution, Investicijų ir Verslo Garantijos (INVEGA). The fund invests public capital entrusted by the EU and the Republic of Lithuania. 

• Its recent portfolio includes Kashimi, Commody, Airvolve and Pixevia.

CBRX will use the funds to enhance its AI-powered cybersecurity platform, expand across Europe (especially the DACH and Nordic regions), grow its partner network, and hire product and AI specialists.

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