Zurich – Xorlab has raised 1.2 Swiss million francs in a financing round. The spin-off from the Swiss Federal Institute of Technology develops cybersecurity solutions for companies.

Xorlab raises 1.2 million Swiss francs

 

Xorlabannounced that is has raised over 1.2 Swiss million francs in an oversubscribed Pre-Series A financing round. Spicehaus Partners AG led the round through its Spicehaus Swiss Venture Fund and will be a partner for the start-up.

Founded in 2015 as a spin-off from the Swiss Federal Institute of Technology (ETH) in Zurich, xorlab develops cybersecurity solutions. Long-term clients include Julius Baer and Climeworks.

One of its products is a smart email security platform that detects and filters out phishing and malware attacks. The solution uses machine learning and advanced dynamic analysis.   

The Zurich-based company intends to use the new funding to continue to hire new talent. It is already planning a large-scale Series A financing round for the autumn.

“It is apparent that enterprises need cybersecurity solutions to prevent both reputational and financial risks of attacks,” said Daniel Andreas of Spicehaus Partners. “We see a lot of growth potential for xorlab with their competitive email defense platform and are excited about their vision to be the leader in proactive defense for all electronic corporate communication.”

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