Only have 1 minute? Here are 3 key takeaways from the piece:
- Czech cybersecurity startup Blindspot Technologies, specializing in advanced DDoS protection, raises €1.4M.
- The round is led by Presto Ventures, Damir Spoljaric and his Gi21 fund, and IT company Prozeta.
- Blindspot Technologies’ solution provides swift implementation made possible through its cloud-based technology and design.
According to a Markets and Markets report, the market for DDoS protection and mitigation security is projected to expand significantly, up from $3.9 billion in 2022 to $7.3 billion by 2027.
Established this year, the Czech cybersecurity startup has developed a solution that specializes in providing comprehensive DDoS protection, along with advanced Web Application and API security, tailored for the B2B segment.
As the company explains, the solution is deployable in two basic modes – it either constantly scrubs the traffic or scrubs it on demand in the moment of an attack.
Blindspot’s CEO and founder David Cermak has more than 20 years of experience and deep expertise in networking infrastructure, data center management, and cybersecurity. As he explains, “Resilience against cyber threats hinges not only on relentless research and development but also on collaboration and partnerships between experts across the segment”.
“As the number, volume, and complexity of cyber attacks continue to grow, partly fueled by state-financed assaults on critical infrastructure, our aspiration is to become the world’s leading provider of DDoS protection services,” Cermak said in a statement.
The company plans to use the funding to scale up operations and enter new markets that prove themselves to be increasingly vulnerable to cyber attacks, such as south-east Asia, as the dependence of the local companies and economy on digital technologies is growing rapidly.
For Presto Ventures, as threats evolve, so must the approach to cybersecurity.
“Blindspot is revolutionizing protection by introducing an invisible layer of defense, harnessing the power of cloud infrastructure and network capabilities. What excites us the most is the ease of deployment, allowing for immediate threat response, coupled with invaluable insights. Blindspot is addressing an untapped market, where major players often overlook these crucial features that clients require,” said Eduard Kucera, partner at Presto Ventures.
According to investor Damir Spoljaric from the Gi21fund, the future of cybersecurity lies in the cloud.
“It’s no different when it comes to internet connection speeds. Very few companies are willing to pay for huge amounts of capacity that they don’t need. That’s why the future of cybersecurity solutions lies in the cloud, which effectively means that the fight against an attack takes place ‘somewhere else’ and the client is not affected. As attacks grow, so does Blindspot, which adapts to current security threats in terms of capacity and attack detection,” Spoljaric said in a statement.