12 July 2023
ERMES CYBER SECRITY
SINERGIA VENTURE FUND
Ermes Cyber Security, among the first companies to successfully take advantage ofMamacrowd-targeted equity crowdfunding in 2017, marks a new important milestone in its growth path: the cybersecurity-focused startup has in fact cashed in a first €3 million tranche of a Series A round from Sinergia Venture Fund .
Founded by Hassan Metwalley with the support of Turin Polytechnic's I3P incubator, Ermes Cyber Security has raised a total of more than €4.5 million so far, including the current funding and a previous €1 million round in 2021. The starting figure for the startup's growth had been the one raised on Mamacrowd, 290,000 euros, which had seen the important contribution of the Accelerators Club with an investment of 150,000 euros.
The announcement of the new round confirms the growth prospects of Ermes Cyber Security and the effectiveness of Mamacrowd in selecting the most promising startups and SMEs. Metwalley will remain to lead the company as CEO, with Simone Cremonini of Sinergia Venture Fund and Remo Ricci, a prominent manager in the ICT world and new chairman, joining the board.
With the fresh injection of capital, the Ermes team is preparing to take significant steps to expand beyond national borders and invest in product, research, communication and marketing. Future plans include transformation into a spa and an opening to international expertise.
The words of Hassan Metwalley, CEO and co-founder of Ermes Cyber Security, underscore the commitment and vision that drives the company: "In a world where the web has become an essential part of our personal and work lives, protecting our browsing, data and privacy is of paramount importance. Ermes strives every day to provide companies and individuals with the tools they need to work and live securely, defending them from cyber attacks such as phishing, credential theft or fraud that are increasingly advanced and targeted. Our goal is to make Ermes an example of success in the IT and software sector, demonstrating how it is possible to realize great projects starting from Italy and offering talents the opportunity to contribute to ambitious and global initiatives, choosing to stay or move to our country."
Simone Cremonini, managing partner of Sinergia Venture Fund, added, "All companies, and more so medium and large enterprises, today face more and more challenges to their business related to cybersecurity, understood in a 360-degree sense, including threats such as phishing, ransomware and other threats associated with web browsing by their employees. These challenges make the cyber security sector as one of the most interesting for us as investors."
Ermes' leading role in the Italian cyber security world has been recognized by Gartner. The company is the only Italian excellence selected in the world ' s top 100 companies specializing in AI Cybersecurity and, in addition, is the only Italian to have received the FIC 2022 Startup Award, the prestigious prize recognized by FIC (International Cybersecurity Forum) that promotes innovative European scaleups and young companies in the world of digital security. And again, more than 30 thousand users are protected by the solutions designed by Ermes, while its technology has already been chosen by some global players such as KPMG, Carrefour, Reale Mutua, Bonelli Erede, Sol Group and distributed by TD Synnex, Attiva Evolution and Icos to more than 50 partners in 4 different continents. In light of these successes, we are proud to have supported the scaleup on their growth path from the beginning and are excited to see where the future will take them.
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