PATRONUS SUCCESSFULLY CLOSES FIRST FINANCING ROUND
Patronus, a portfolio company of Mountain Partners incubator Rheingau Founders, has successfully closed their first financing round with a six-figure amount. The vision of the security start-up is to protect companies from cyberattacks.
Co-founder Matthias Friese states that small and medium companies in Germany are insufficiently prepared for cyberattacks, “despite the fact that professional attacks have become more frequent recently. Companies lock their office door but leave their systems wide open.”
In fact, a current investigation of the German Federal Office for Security in Information Technology (BSI) has revealed that small and medium companies are increasingly threatened by cyberattacks. According to the BSI, the number of known malware variants increased to a total of more than 560 million by August 2016. Additionally, 380’000 new variants are detected every day. Friese explains, that “the damage is huge. If an online shop is offline for several days, it is not only a financial catastrophe. Reputation suffers as well and customers lose their confidence. They do not believe their data is secure with the company anymore.”
Patronus aims to protect businesses from this damage. The start-up was founded in December 2015 in Berlin by Matthias Friese, Jens Altmann and Dominik Wojcik and has 20 employees.