Blindspot Technologies, a cybersecurity startup specializing in advanced DDoS protection, announces a significant funding milestone of €1.4 million from Presto Ventures, Damir Spoljaric through his Gi21 fund, and IT company Prozeta. This Seed round marks a significant vote of confidence in the company’s innovative approach to cybersecurity and its potential for global impact.
The funding will be used to scale up operations and enter new markets that prove themselves to be increasingly vulnerable to cyber attacks – such as Southeast Asia – as the dependence of the local companies and economy on digital technologies is growing rapidly.
Blindspot Technologies is a cybersecurity solution that specializes in providing comprehensive DDoS protection, along with advanced Web Application and API security, tailored specifically for the B2B segment. The solution is deployable in two basic modes, it either constantly scrubs the traffic or scrubs it on demand in the moment of an attack. The decision rests with the client, depending on their specific needs and the unique characteristics of their infrastructure.
David Cermak, Blindspot Technologies’ Founder and CEO, said: “As the number, volume, and complexity of cyber attacks continue to grow, partly fueled by state-financed assaults on critical infrastructure, we aspire to become the world’s leading provider of DDoS protection services. We pride ourselves on offering rapid deployment and robust reliability of our solution.”
In today’s digital landscape, there is an alarming surge in malicious traffic, with projections indicating a steep escalation in cybercrime in the upcoming years. With an estimated cost reaching $23.82 trillion in 2027 according to Statista, the call for protection against these threats will inevitably follow these trends.
“I firmly believe that the resilience of modern societies against cyber threats hinges not only on relentless research and development but also on collaboration and partnerships between experts across the segment, as well as between these experts and the public sector,” added Cermak.
The uniqueness of the DDoS protection by Blindspot Technologies lies in its very swift implementation made possible by its cloud-based technology and design. It can be deployed within hours or days while the market standard of deployment usually counts in months. The significance of the Blindspot solution has been demonstrated through its successful deployment in clients who were facing threats from hacker groups.
The Blindspot solution adapts to the specific requirements of the end customers or the intricacies of the infrastructure that is to be protected. This also means that the detection and filtering of the traffic is set so that the false positive signals are eliminated according to the clients’ data flow.
Eduard Kucera, Presto Ventures Partner, commented: “What excites us the most is the ease of deployment, allowing for immediate threat response, coupled with invaluable insights. Blindspot is addressing an untapped market, where major players often overlook these crucial features that clients require. Blindspot’s mission is to empower businesses with proactive, effective, and accessible cybersecurity solutions, ensuring their networks remain resilient in an ever-changing threat landscape.”
Damir Spoljaric, Founder of Gi21, added: “It’s a well-known fact that cyber attacks are increasing in intensity, volume, and sophistication. This trend will not abate. There are more and more devices connected to the Internet and with more bandwidth. The vast majority of the small subset that uses at least some form of protection is reliant on local solutions that are expensive in the first place and represent a bottleneck in terms of resilience and attack detection capacity.”
