Vilnius-based CBRX, which enables IT providers to offer cybersecurity services through its AI-driven cloud platform, has raised €540,000 in a pre-seed funding round from Coinvest Capital to expand its presence across the European Union, as Vestbee was informed.
- Founded in 2023 by Kazimieras Sadauskas and Audrius Miknevičius, CBRX, formerly known as Cyberalert, offers a platform for automating incident analysis, tailored for cybersecurity professionals. The platform boosts team productivity by 90% in incident analysis and handling, while enabling more strategic security measures, the startup claims.
- CBRX enhances incident data and streamlines handling procedures to ensure the efficient resolution of security incidents. Its comprehensive approach protects digital assets and ensures operational continuity.
- In 2024, the firm secured €275,000 in a funding round led by Scalewolf and Firstpick to further develop and expand the startup.
Details of the deal
- The pre-seed round came from Coinvest Capital, a Lithuanian early-stage venture capital firm managing €25.5 million in assets and holding 36 portfolio companies, including two exits.
"Our investment strategy prioritizes innovations that strengthen both physical and digital security, and we see great potential in CBRX in this area. We believe the company has all the prerequisites to become a major player in Europe’s cybersecurity ecosystem,” claims Viktorija Trimbel, Managing Director of the venture capital fund Coinvest Capital.
- The investment also saw support from Scalewolf, Plug and Play Tech Center, and Firstpick.
- CBRX will use the new funding to enhance its AI-powered cybersecurity platform, expand its sales and partner network across Europe, particularly in the DACH and Nordic regions, and grow its team with a focus on product development and artificial intelligence specialists.
“This investment round is especially important for us, as it allows us to accelerate what we already see as an inevitable shift in the market – traditional IT service providers (MSPs) are moving into the field of cybersecurity and becoming MSSPs. Our goal is to help them make this transition quickly, without upfront costs, complex infrastructure, or the need for an expensive team of experts," explains Kazimieras Sadauskas, CEO of CBRX.
