Eye Security, a Netherlands-based cybersecurity firm, has successfully closed a €36m Series B funding round.
This significant financial milestone was led by J.P. Morgan Growth Equity Partners, with contributions from existing investors including Bessemer Venture Partners and TIN Capital.
Founded by former Dutch Intelligence and Security Services experts, Eye Security has quickly grown into a prominent player in the cybersecurity field. The company now employs a talented team of over 100 professionals spread across three countries. Eye Security is renowned for its innovative approach, offering enterprise-level cybersecurity protection, incident response, and cyber insurance to mid-market companies. With hundreds of satisfied customers across various industries, Eye Security has become a trusted name in cybersecurity solutions.
With the newly acquired funds, Eye Security aims to further penetrate its current markets in the Netherlands, Germany, and Belgium, while also planning to expand its reach to other select European countries in 2024. This expansion is part of the company’s commitment to delivering high-quality, people-centric cybersecurity services that have garnered widespread acclaim from their client base.
The European cybersecurity market, valued at €34bn, is expected to grow significantly, reaching approximately €60bn by 2029, it said. Despite this rapid expansion, a substantial portion of the market’s resources are directed towards safeguarding large enterprises, leaving millions of smaller companies exposed to cyber threats. Eye Security addresses this imbalance by focusing on providing comprehensive cyber protection and insurance solutions tailored for the mid-market segment.
Additionally, Eye Security is strategically positioned to benefit from the impending NIS2 directive by the European Union, which mandates stringent cybersecurity breach reporting requirements for companies. This directive underscores the increasing importance of robust cybersecurity measures for businesses across Europe.
Eye Security CEO Job Kuijpers shared his enthusiasm about the funding, stating, “Our journey began with a vision to tackle the escalating cyber risks that businesses face daily. We’re excited to extend our mission across Europe, giving our customers and strategic partners the reassurance that comes with knowing they’re partnering with a leader in cybersecurity and insurance.”
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