BitNinja raises $2.5 million in Series A funding led by Lead Ventures
After last year’s €500,000 seed investment, BitNinja raises $2.5 million in Series A funding, led by Lead Ventures. The company will use the fund to make the Internet a safer place by improving the existing ServerProtection SaaS tool and by developing new products.
What is BitNinja?
BitNinja gives ultimate protection against WordPress, Joomla and Drupal infections for hosted websites. They provide an easy-to-use all-in-one SaaS cybersecurity tool, which protects more than 20,000 servers worldwide and defends against 10+ million attacks daily.
The history of the Ninjas
BitNinja was founded in 2014 and became very profitable by the following year. In December, 2015 they were one of the eight selected start-ups in Cyber London’s second accelerator programme. They wanted to make the Internet a safer place, so they decided to speed up their growth with the help of investors. In November, 2019 they raised €500,000 from cybersecurity veterans and cloud entrepreneurs. The Ninjas used the investment to develop their existing product, they doubled the number of the Ninjas and now their new product is just around the corner.
The Series A round was led by Lead Ventures, they focus on companies which are in the scaling phase in the Eastern-European region. “The investors were impressed by the well-built organisation, the story behind them and, of course, the rapidly growing cybersecurity industry seems very attractive for investors,” said Balazs Haszonics, the Chief Financial Officer of Lead Ventures. A Hungarian-American company, iEurope and another Hungarian investor, Oxo Technologies Holding, also joined the Series A round. Peter Oszko, the CEO of Oxo Technologies Holding believes that cybersecurity will become basic to every online activity, and, as we are in a rapidly growing digitalisation era, the demand from the market will grow exponentially. Well-known investors from the previous round are Oktogon Ventures and the founders of Balabit also raised funds in Series A.
Plans for the future
In the next round they are planning international fund raising. George Egri, the CEO and founder of BitNinja said that the involvement of an American related company can help them to achieve this goal. They would like a USA based lead investor in the Series B round, which they plan to reach in the next 1 or 2 years.