Smart security solution impresses investors

Xorlab has raised 1.9 million francs in a financing round, announced a statement. Among the investors are the Zürcher Kantonalbankand the Hasler Stiftung, as well as veterans from the security and financial sectors.

The startup company is developing a smart email security platform that can detect and filter phishing attempts and malware attacks via email. It is based on technologies such as machine learning and advanced algorithms developed in-house to analyse attachments. 

“Cybercrime has become a major problem in our economy,” commented CEO and cofounder Antonio Barresi. He highlighted that nine out of 10 attacks start with an email and can quickly cause damages reaching millions.

Xorlab was founded in 2015 as a spinoff from the Federal Institute of Technology in Zurich (ETH). Its cyber security solutions have already secured the first customers. Among them are the private bank Julius Bär and the software provider Netcetera. Xorlab intends to pour the new capital into accelerating its market expansion.