Ethiack, incubated at IPN, raises 4 million euros to develop hackbots powered by Artificial Intelligence
Incubation
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Ethiack, a startup incubated at Instituto Pedro Nunes (IPN), has closed a seed funding round of 4 million euros to launch hackbots powered by Artificial Intelligence (AI). This milestone represents a significant step forward in the company's mission to make the Internet safer by developing cutting-edge cybersecurity technology.
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Founded in 2022 at IPN by André Baptista, Jorge Monteiro and Vitor Pinho, Ethiack has already established itself as a benchmark in the sector, reaching 1 million euros in annual recurring revenue (ARR) and counting more than 50 clients in 9 countries. The startup combines the experience of ethical hackers with automation and AI to offer a Continuous Pentesting solution, identifying critical vulnerabilities in digital assets.
With this investment, with the participation of Explorer Investments, CoreAngels, Paulo Marques, Startup Wise Guys, Aralab, Amena Ventures and Start Ventures and public funds from Portugal 2030, Ethiack will accelerate the development of its hackbots and expand into new markets, starting with the UK and Europe, with ambitions to reach the US and the Middle East.
In just two years, Ethiack has already won important distinctions, including the award for ‘WebSummit's Most Promising Startup’, the ‘WSA 2023’ and the National Innovation Award. In addition, André Baptista, the startup's CTO and co-founder, was recognised as the Most Valuable Hacker for the second time this year, and is one of only five hackers in the world to have been recognised twice.
Ethiack, a startup incubated at Instituto Pedro Nunes (IPN), has closed a seed funding round of 4 million euros to launch hackbots powered by Artificial Intelligence (AI). This milestone represents a significant step forward in the company's mission to make the Internet safer by developing cutting-edge cybersecurity technology.
Founded in 2022 at IPN by André Baptista, Jorge Monteiro and Vitor Pinho, Ethiack has already established itself as a benchmark in the sector, reaching 1 million euros in annual recurring revenue (ARR) and counting more than 50 clients in 9 countries. The startup combines the experience of ethical hackers with automation and AI to offer a Continuous Pentesting solution, identifying critical vulnerabilities in digital assets.
With this investment, with the participation of Explorer Investments, CoreAngels, Paulo Marques, Startup Wise Guys, Aralab, Amena Ventures and Start Ventures and public funds from Portugal 2030, Ethiack will accelerate the development of its hackbots and expand into new markets, starting with the UK and Europe, with ambitions to reach the US and the Middle East.
In just two years, Ethiack has already won important distinctions, including the award for ‘WebSummit's Most Promising Startup’, the ‘WSA 2023’ and the National Innovation Award. In addition, André Baptista, the startup's CTO and co-founder, was recognised as the Most Valuable Hacker for the second time this year, and is one of only five hackers in the world to have been recognised twice.
