Axoflow, a Hungarian-founded and US-based cybersecurity startup, has secured a $7 million investment for its security data curation pipeline. The round was led by EBRD Venture Capital, while all existing major investors, Credo Ventures and e2vc, have also significantly increased their stakes in the company. The company shared the announcement on their website.

About Axoflow 

  • Axoflow is a US-based company founded by Balázs Scheidler, Ferenc Hernádi, Sándor Guba and Neil Boyd. It develops the automatic security data curation built for enterprises, empowering them to detect and respond to threats faster, provide better data for use with Al, and eliminate compliance breaches while reducing costs by 50% or more, without coding.

  • Axoflow helps businesses across various industries strengthen their security posture by feeding their security data stack with high quality, curated security data.

  • Its platform eliminates the need for manual, code-heavy data wrangling by offering a pipeline that automatically handles data from a broad array of security sources — including syslog, which can still account for over half of all security data, as stated by the company.

“Axoflow provides the intelligence layer that empowers cybersecurity professionals with greater control and visibility over their environments. The Axoflow Platform not only modernizes the security data layer and reduces costs but also strengthens the overall security posture,” said Yalcin Gungoren at EBRD Venture Capital.

Investment details

The round was led by EBRD Venture Capital, with partisipate from all existing major investors, Credo Ventures and e2vc, have significantly increased their stakes in the company. 

  • EBRD Venture Capital, part of the European Bank for Reconstruction and Development (EBRD), invests in innovative startups and scale-ups across diverse sectors and regions. The firm is stage-agnostic, investing in both early and growth-stage companies, with ticket sizes ranging from €2 million to €25 million over the life of the investment.

  • Credo Ventures, a Prague-based venture capital company focused on early stage investments in Central Europe or, occasionally, the US. 

The new funding will be used to further develop Axoflow’s pioneering security data curation pipeline—that dramatically improves security data quality and reduces associated costs, without the need to write code.

Previously, AIN  informed that EBRD Venture Capital invested $12 million to Slovak-founded startup Brightpick.