Strengthening Cybersecurity in Italy: Ermes Cyber Security and the New Investment Round
Turin, June 19, 2023 – Ermes Cyber Security, the only vendor in Italy and Europe specialized in Browser Security and recognized by Gartner for its excellence in defending against cyber threats, is thrilled to announce the beginning of its Series A round and the participation of Sinergia Venture Capital as the lead investor, with an initial subscription of €3 million.
Additionally, the company will undergo a corporate restructuring, transforming into a joint stock company: Ermes Cyber Security SpA will further enhance its international presence. Significant investments will be made in product development and cyber research, which have always been the distinguishing features of this award-winning company. Communication and marketing efforts will also be intensified to achieve a more prominent positioning in the European and international markets.
The financing round was led by a team of experienced investors, with the participation of renowned industry players. The capital increase was spearheaded by Sinergia Venture Fund, while the official closure of the round with the entry of additional funds and new investors is expected by the end of the year.
This financial support will enable Ermes Cyber Security to accelerate its growth by developing cutting-edge solutions to counter increasingly sophisticated cyber threats and provide reliable protection for Italian businesses.
“Our goal, thanks to these new investments, is to make Ermes a successful example in the IT and software industry, demonstrating how it is possible to undertake major projects starting from Italy and offering talents the opportunity to contribute to ambitious global initiatives, choosing to stay or relocate to our country,” enthusiastically commented Hassan Metwalley, CEO and Co-founder of Ermes Cyber Security.
With the received investments, Ermes Cyber Security will intensify its research and development efforts to enhance its patented browser security technologies based on machine learning and AI. This will enable the company to offer dynamic and real-time protection, ensuring reliable defense against cyber threats for businesses.
Moreover, Ermes Cyber Security aims to expand its presence in the international market by collaborating with new companies and institutions to provide tailored security solutions. The trust already placed by important clients such as KPMG, Carrefour, Reale Mutua, Bonelli Erede, and Sol Group is a testament to the quality and effectiveness of Ermes Cyber Security’s solutions.
“All companies, especially medium and large enterprises, are facing increasing cybersecurity challenges that affect their business from all angles. These challenges include threats like phishing, ransomware, and other risks associated with web browsing by their employees. They must protect their sensitive data, intellectual property, systems used for sales, clients, and production, as well as prevent malware attacks and online fraud. These challenges make the cybersecurity sector one of the most interesting for us as investors, and in Ermes Cyber Security, we have found the best available Italian company to address and resolve the inherent threats in users’ web browsing, along with an exceptionally talented team,” commented Simone Cremonini, Managing Partner of Sinergia Venture Fund.
“Ermes Cyber Security joins our fund’s portfolio of scale-ups and confirms our strategy focused on B2B2 scale-ups with strong growth potential in Italy and abroad,” added Giacomo Picchetto, Managing Partner of Sinergia Venture Fund.
“We are thrilled about this further validation of Ermes Cyber Security’s significant development journey. As a spin-off from the Polytechnic University of Turin and a young company that has grown within the I3P incubator, Ermes represents an excellent example of leveraging research results in a strategic sector of great value to the Italian industrial system,” commented Giuseppe Scellato, President of I3P.
We will continue working diligently to make the digital environment a secure place to live and work for all Italian businesses, contributing to the creation of a robust cybersecurity defense for the future. Learn more on our website: www.ermes.company/en/