March 14, 2024 at 10:51AM
BotGuard OU has raised €12 million (~$13.1 million) in a Series A funding round, led by MMC Ventures, Tera Ventures, Expeditions Fund, and angel investors. The Estonia-based company offers an AI-driven solution to filter web traffic, mitigate threats, and reduce management costs. The investment will support technology advancement and team expansion.
From the meeting notes, the key points to highlight are:
1. BotGuard OU secured €12 million (~$13.1 million) in a Series A funding round, with total investment reaching approximately $13.7 million.
2. MMC Ventures led the funding round, with additional investment from Tera Ventures, Expeditions Fund, and angel investors.
3. BotGuard, founded in 2019 and based in Tallinn, Estonia, provides a cloud-based solution leveraging AI to help hosting providers filter web traffic and protect infrastructure and clients from threats such as data theft, scams, and DDoS attacks.
4. The company’s platform-agnostic solution is currently used by clients and partners in over 30 countries, with both shared and private web hosting providers offering it as an add-on for site owners.
5. BotGuard plans to use the investment to advance its technology and expand its tech development, sales, and marketing teams.
Additionally, the CEO and co-founder Nik Rozenberg emphasized the importance of offering a flexible, cost-effective solution to web hosting providers to address the rapidly-evolving threat landscape and management costs associated with web traffic.