BotGuard, a Tallinn, Estonia-based cybersecurity software company, raised €12M in Series A funding.
The round was led by MMC Ventures. Existing investors Tera Ventures and Expeditions Fund also participated in the round, alongside prominent angel investors including Stefan Lindeberg.
The company intends to use the funds to further develop its technology, recruit tech development talent, and expand its sales and marketing teams as it continues to scale globally.
Founded in 2019 by Nik Rozenberg, CEO, and Denis Prochko, CTO, BotGuard is a global web traffic management company that enables businesses to manage good, bad, and neutral web traffic. Its proprietary technology selectively blocks negative traffic (malicious bots) and neutral traffic – which would otherwise drive up infrastructure costs – while granting an access to human users, search engines, and affiliate bots. The company works with both shared and private web hosting providers, enabling them to offer traffic control as an add-on for website owners, who can configure and adapt the product to their website’s needs.
BotGuard now operates globally with clients and partners in more than 30 countries. The company’s executive team includes industry veterans such as CRO Bertil Brendeke (ex-CloudFest, Acronis), COO Martin Pawliczek (ex-GoDaddy, Host Europe Group), CPO Jason Haworth (ex-AWS, F5 Networks), CMO Renee Stromberg (ex-Cisco, F5 Networks) and CDS Cagri Ozcinar (ex-Samsung, Sky Group).
Commenting on the news, Nik Rozenberg said: “Every business should have effective web traffic management, yet there are no affordable solutions focused on the SME segment due to complicated and expensive onboarding processes. Malicious bot traffic can be extremely harmful for businesses – particularly for the likes of e-commerce retailers that depend on their website to operate – and organisations require tools that keep pace with the rapidly-evolving threat landscape. Even neutral web traffic – like some crawler bots – can drive up management costs. We are democratising web security by offering web hosting providers a flexible, easy-to-use, and cost-effective solution that still offers the highest level of control over web traffic. We are excited for this next stage of our growth journey as we continue to innovate and expand into new territories.”
FinSMEs
13/03/2024