Xorlab Secures Over 5 Million Euros in Funding

(CONNECT) Zurich-based xorlab AG has received over 5 million euros from investors. The Series A funding round was led by existing investor Spicehaus Partners, which has backed xorlab since 2015. In addition, the investment firm Grapha-Holding from Hergiswil, Canton of Nidwalden; the venture capital firm EquityPitcher Ventures from Zurich; and Start-up Finance, a division of Zürcher Kantonalbank, have joined this funding round as partners.

According to a statement, the new capital is intended to accelerate xorlab's expansion in Europe. The company is establishing a Europe-wide email security platform, initially in the DACH region, the Benelux countries, and Scandinavia.

According to xorlab, the funding comes “against the backdrop of rapidly growing demand” from European organisations seeking to reduce their dependence on U.S.-based IT security providers. In addition, new regulations are increasing pressure on financial institutions and operators of critical infrastructure by holding them directly responsible for the stability of their digital supply chains.

“Europe needs its own cybersecurity champions—not European copies of established U.S. companies, but firms that can define the next generation of enterprise security,” CEO and co-founder Antonio Barresi is quoted as saying. "There's no better place to build the European market leader in email security than in the heart of Central Europe."

Daniel Andres, founding partner of Spicehaus Partners, says he is “firmly convinced that the combination of AI-driven threats, increasing regulatory pressure, and Europe’s pursuit of digital sovereignty presents a unique opportunity in cybersecurity. “Xorlab has the technology, customer trust, and market position to become a leading company in its category in Europe,” he said. ce/mm