Swiss cybersecurity specialist Exeon Analytics on course for international expansion after successful financing round
Press Release - Zurich, May 4, 2021
The Swiss cybersecurity provider Exeon Analytics AG has set itself the goal of becoming the leading "network detection and response" provider in Europe. Well-known investors see the potential of the Swiss solution and support the project with know-how and funds amounting to more than CHF4 million. The ETH spin-off Exeon already has a wide customer base in Switzerland, including two of the five largest Swiss banks and well-known logistics companies. The first major customers have also already been acquired in Germany and Austria.
Hacker attacks have increased massively in recent years, and there are almost daily reports of losses amounting to millions. Networks of established companies and corporations are being attacked and cybersecurity is increasingly the focus of attention. Even the best prevention solutions have vulnerabilities that are regularly discovered and exploited. Compromised networks therefore remain undetected for a long time - according to various studies for several weeks or even months. And this is where Exeon's solutions come in: with fast and straightforward applications, it is possible to identify and stop attacks and data theft in the shortest possible time.
**Europe offers a lot of potential **
While traditional cybersecurity solutions focus on preventing cyberattacks, detection algorithms identify successful attacks within the shortest possible time. For the European expansion, Exeon relies on the established platform "ExeonTrace" and complements it with "Visibility NOW", which allows to gain an overview of network activities within the shortest possible time and to detect hacker attacks before they cause damage. Since Exeon's solutions work completely without hardware, they are particularly suitable for decentralized, large-scale networks of large companies.
"Europe is an extremely attractive economic area - but that also makes it an attractive target for cybercrime," says Exeon CEO Dr. David Gugelmann. "Unfortunately, we see many companies that are not well prepared for such attacks. This not only causes damages to the affected companies, but potentially also means the loss of sensitive data. This is where we can strengthen the protection with our solution."
Financing round for further development and international expansion
The growing interest of European customers and partners, Exeon's success in outperforming global competitors and the high reliability of the Swiss cybersecurity solutions are the main reasons why Exeon decided to expand further internationally.
With the successful financing round of more than CHF4 million, further expansion can now be driven forward rapidly. Well-known private investors and industry experts are on board. The strong revenue growth in the Swiss market and the important new international customer additions have convinced the investors of Exeon's excellent business potential.
"Cybercrime knows no national borders and rapid expansion abroad is the logical next step. Exeon is consistently driving the paradigm shift from Cybersecurity Prevention to Detection & Response," says Gregor Erismann, CMO of Exeon.
Next Generation of cybersecurity
Exeon's Network Detection and Response (NDR) approach reacts to irregularities in an enterprise network: as soon as anomalies are detected, the system takes action, proposes measures and thus minimizes the damage that can be caused by an exploited vulnerability. Especially in the case of major cyberattacks, such as the recent Microsoft Exchange or Sunburst hacks, the rapid detection of network activity - as provided by the "Visibility NOW" onboarding solution - is vital for companies.
About Exeon
Exeon Analytics AG is a Swiss cybersecurity company specializing in protecting IT infrastructures through AI-driven security analytics. The Network Detection & Response (NDR) platform "ExeonTrace" offers companies the ability to monitor networks, immediately detect cyber threats and thus effectively protect their own company's IT landscape - quickly, reliably and completely hardware-free. The self-learning algorithms for detecting anomalies in network activity were developed at world-renowned ETH Zurich and are based on more than ten years of academic research. Since then, they have proven themselves in the daily business of major international customers and are constantly being expanded and refined.
Press contact: Gregor Erismann CMO Exeon Analytics gregor.erismann@exeon.com +41 78 797 05 09
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