BitSensor, a start-up from Eindhoven University of Technology, has raised €400,000 in an investment round led by Volta Ventures to further develop its security solution. The BitSensor solution allows companies to get an insight into the security status of their apps and data within milliseconds. Today, around 80 percent of cyberattacks take place on websites, web applications or mobile apps, which cannot be protected by means of conventional security solutions.
Co-founder of BitSensor, Ruben van Vreeland, explains: “Cyberattacks which could have been stopped by our software make it to the news almost daily. Think of attacks from Russia, the Yahoo-leak with half a billion leaked passwords, or the V-tech kid’s toys which leaked many pictures of children using them. We report and secure against these attacks when they happen, not months after the fact. These necessary measures can be taken immediately to prevent more leaks.”
BitSensor has developed so-called self-protection technology, which is built into the application itself and stops hackers in their tracks. BitSensor software analyses trace evidence and generates reports. These reports contain the attack methods which were, for example, used to steal info or manipulate financial actions.
The Belgian venture capital firm Volta Ventures was very impressed by the talent of the young team. “Many organisations still need to comply with the recently introduced law in regards to their duty of reporting data breaches. This is a place where we see a growing market potential and BitSensor has an unique, easy and quick solution to help health institutions, banks and software developers with their security”, according to Frank Maene from Volta Ventures.
One of the co-founders of BitSensor, Ruben van Vreeland, participated in the European Venture Programme in 2015. Funded by the EuroTech Universities Alliance, the European Venture Programme offers 20 young startups exclusive access to the entrepreneurship expertise and networking resources available at the four EuroTech Universities. The intensive 12-day programme (7 days beginning of summer and 5 days end of summer) takes entrepreneurs on a journey to four different ecosystems, where a mix of thematic workshops, company visits and public pitching competitions will enable the startups to grow their business beyond borders. Applications for the 2017 programme cycle will open shortly.
More information on BitSensor