Cyber Insight receives seven-figure investment to build its cyber security AI software

TGFS

31 März 2023

TGFS Technologiegründerfonds Sachsen invests in Cyber Insight GmbH. The start-up from Leipzig develops a software for risk analysis and evaluation that enables responsible parties to make data-based decisions to increase a company’s IT security. GDPR aspects are also considered. Overall, this significantly simplifies the search for and qualification of suitable measures and reduces the risk of becoming a victim of a cyber-attack. With the investment, Cyber Insight will develop the platform to market maturity and carry out the market entry. In addition, the current risk models will be further developed and validated.

Cyber Insight’s product helps IT service providers, management consultancies, law firms and insurance companies to increase the compliance (security as well as data protection standards) of their clients step by step. The assessment of risks and the derivation of prioritised recommendations for action are based on a multifactorial risk model that supposes individual vulnerabilities and exogenous factors such as current trends or changes in the legal situation and integrates them automatically into the assessment scheme with the help of AI. The customer thus receives automated security assessments and suggestions for concrete measures, giving him the opportunity to reduce his risk in a cost-effective manner and to reduce damages and penalties before they occur. The main goal is to use the application to make cyber risks and regulatory compliance measurable. Management and line managers should thus be enabled to deal with and implement these issues appropriately. So far, this has been neglected in part due to insufficient capitalisation or lack of know-how.

The current team consists of the founders Dominik Weis and Fabian Bauhammer as well as three AI developers. The founders are experienced entrepreneurs with a total of over 30 years of professional experience in the areas of IT, IT security, regulatory affairs, digitalisation and project management. Five years ago, they already jointly founded a successful consultancy in the areas of IT security and regulatory affairs and were able to build up comprehensive expertise in customer projects. The cooperation with the TGFS came about quickly for Dominik Weis. „Already in the first conversation with TGFS, we realised that we were pursuing the same vision. Accordingly, the transaction could also be concluded quickly and without complications. Another reason for the cooperation was that we see Leipzig as an ideal location for the rapid development of our company.“

TGFS Technologiegründerfonds Sachsen started its third generation of funds this year and has supported over 100 start-ups in Saxony since it was initiated in 2008. Cyber Insight is one of the first deals in the fund’s third generation. TGFS Managing Director Sören Schuster regarding this transaction: „We see a great need for comprehensive analytical and evidence-based information on the vulnerability of the company’s own IT infrastructure. Cyber Insight addresses exactly this. In addition, the cyber security market is growing strongly. This, combined with the compelling and experienced team, leads us to expect dynamic development.“

Your contact
Sören Schuster | Managing Director
+49 341 256963 30
soeren.schuster@cfh.de

Deal team TGFS
Jan Thomas Alter and Paul Michalke

Advisor TGFS
GRUENDELPARTNER (legal) and Mainframe Beratung AG (commercial)