The cybersecurity provider Exeon Analytics plans to expand in Europe with new funds it has raised. The 4 million francs secured through a funding round will be used to create a greater market for its network detection and response solution. “Cybercrime knows no national borders, and rapid expansion abroad is the logical next step,” said Exeon’s CMO Gregor Erismann in a press release.
The spin-off from the Swiss Federal Institute of Technology in Zurich writes that it is consistently driving the paradigm shift from Cybersecurity Prevention to Detection & Response. Even the best prevention solutions have vulnerabilities that are regularly discovered and exploited. Compromised networks therefore often remain undetected for a long time. Exeon’s solutions promise to identify and stop attacks and data theft in the shortest possible time (detection). As soon as anomalies are detected, the system takes action and proposes measures (response) to consequently minimize the damage that an exploited vulnerability can cause.
With the successful financing, further expansion can now be driven forward rapidly. “Well-known private investors and industry experts are on board.” The strong revenue growth in the Swiss market and the important new international customer additions have convinced the investors of Exeon’s excellent business potential.