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Cybersecurity Funding

Cybersecurity Startup Elba Raises €2.5 Million for Employee-Focused Product

French cybersecurity startup Elba raises €2.5 million ($2.6 million) to help organizations identify their employees’ security issues.

French cybersecurity startup Elba today announced that it has raised €2.5 million ($2.6 million) in a funding round led by XAnge.

Founded in 2022, the Paris-based user-focused security company is protecting organizations from cyberthreats by helping them identify issues in their employees’ security posture.

Elba’s solution integrates with existing SaaS products and scans the environment for potential security issues, such as sharing documents that contain personal information, using non-compliant applications on a cloud account, logging in to an application without using multi-factor authentication, and the like.

The large number of SaaS applications that organizations are using today create security risks that cannot be eliminated by raising employee awareness alone, and Elba seeks to address this by empowering employees to review and solve security issues themselves. This also helps reduce the burden on IT teams. 

The new funding, Elba says, will help it expand internationally, with a focus on the US market. Additionally, the startup will continue to invest in research and development.

Kima Venture, Plug and Play US, Uncorrelated, Angel Invest, and angel investors also participated in the funding round.

Elba says that more than 100 organizations are already relying on its user-focused security approach, which has helped it identify hundreds of thousands of security issues.

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Related: Memcyco Raises $10 Million in Seed Funding to Prevent Website Impersonation

Related: European Cybersecurity Firm Raises $37.5 Million

Related: SquareX Raises $6 Million for Browser Security Product

Related: Webb Raises $7 Million for Blockchain Asset Transfer Privacy System

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

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