Cyscale, a software developer of cloud data protection solutions and applications, has raised €3 million in a seed funding round, the company announced.
The funds will support the company’s focus on product development, team development and international expansion, particularly in the UK.
The round was led by Notion Capital, with participation from Seedcamp (an investor also in UiPath), GapMinder BV, Micha Hernandez van Leuffen – previously founder of Wercker and now Fiberplane and NP-Hard Ventures and David Mytton – founder of Console. dev and Server Density.
This is Cyscale’s third round of investment in three years since its launch. The startup started its acceleration process with Techcelerator, attracting support and successive rounds of funding: EUR 100,000 in 2019 from GapMinder BV and EUR 350,000 via SeedBlink in 2021 (when GapMinder BV was the lead investor).
Cyscale is a startup that develops software solutions to protect data stored in the cloud and performs risky data analytics. The company was founded in 2019 in Cluj by Manuela Țicudean, Ovidiu Cical and Andrei Milas.
“Thanks to this funding, we want to increase our team in Romania and the UK next year. We have open jobs in both countries. By the end of this year, we want to exceed 25 people in the engineering area and recruiting ten additional people to We are still focused on the development of Cyscale’s cybersecurity platform, but we understand that the team needs to grow in the operational and commercial areas. global scale in the next three years and the team will exceed 250 people by then.Ovidiu Cical, CEO and co-founder of Cyscale, said.
The startup currently has 15 employees and users and partner companies from Romania, UK, Singapore, Germany, France and the US.
The company is currently recruiting UK sales and marketing experts and managers, as well as Go and ReactJS programmers.
Most of Cyscale’s clients are fintech companies that use technologies operated from the cloud. The founders expect accelerated development in 2022 and 2023 and target more than 100 companies as customers in the next two years.
(Photo courtesy of the company)