We back the best European founders with €1M-€10M tickets. We like any early stage B2B software business that is simply a little different, whether your market is considered “too boring” by some, your business model a little atypical, or your founder-passion bordering on obsession.

henQ

Dawn Capital is an early-stage venture fund focused on investing in the enterprise software and FinTech sectors. It provides capital and counsel to support founders to scale their business’s growth through talent, products, and business models to become category-defining, global companies. The firm is powered by cloud computing, ever-lowering barriers to entry and multi-player categories are changing the way people live and work. As this innovation continues, with the growth of AI and no-code applications, the investment opportunities in Dawn’s area of expertise continue to increase. Its portfolio companies include Mimecast, iZettle, Neo Technology, iControl, Showpad, and Gelato Group. Dawn Capital was founded by Haakon Overli and Norman Fiore in August 2006 and is based in London, United Kingdom.

Dawn Capital

DN Capital is an early-stage venture capital firm that invests primarily in Europe and North America. The firm focuses on companies that plan to establish operations on both sides of the Atlantic, and strives to help its companies build international businesses. Founded in 2000, the company has operations in London and Silicon Valley. DN Capital’s previous funds are top performers and the firm is one of the lead investors in companies such as Endeca (sold to Oracle), Shazam (one of the world’s leading mobile app), Auto1 (world's largest used car marketplace), Purplebricks (IPO London) and Quandoo (sold to Recruit).

DN Capital

SmartFin is targeting exceptional B2B technology companies across Europe.

SmartFin

Zivver

Zivver is the effortless, smart, secure, digital communications platform, powering the next generation of secure communications.    With the hyper acceleration of digital transformation, regulatory reforms and hybrid work, we all need a modern secure communications platform that is highly usable, empowering secure work with maximum effectiveness and minimal disruption.    We’ve re-imagined secure communications, pioneering a solution from the ground up – a secure system that is frictionless with unparalleled encryption. We’re empowering people and enterprises, transforming the way people think, act and communicate – mitigating errors and semantically tailoring security levels as required. We call it effortless, smart security.

Zivver was founded in the Netherlands and provides a solution that integrates with major email providers such as Microsoft 365 &amp; Google Workspace and enables organizations to implement security and privacy policies for the emails being sent. Key features include proactive monitoring of potential risks, encryption in transit, email recalling, and logging. The platform also enables organizations to easily comply with privacy regulations such as GDPR.

New data privacy regulations have opened up space for a new wave of compliance-focused startups.

Digital Privacy Tools

Zivver is a Dutch company that has developed a secure communication platform designed to prevent data leaks and ensure compliance for organizations in regulated industries such as healthcare, government, and legal sectors. The platform integrates with popular email clients like Outlook and Gmail, providing advanced security features like encryption, multi-factor authentication, and data leak prevention.

Dutch secure communication startup ZIVVER raises $12 million

Dutch startup Zivver gets $17 million to help companies secure their communications

Smartfin

Strategic partnership with ZIVVER

Secure Email Solution

Zivver - Strategy Insights

AI-based solutions to level the playing field against email threats

Next-gen Email Security

Claranet improves communications security with Zivver

Zivver was founded in the Netherlands and provides a solution that integrates with major email providers such as Microsoft 365 &amp; Google Workspace and enables organizations to implement security and privacy policies for the emails being sent. Key features include proactive monitoring of potential risks, encryption in transit, email recalling, and logging. The platform also enables organizations to easily comply with privacy regulations such as GDPR.Key customers and partnershipsAs of September 2024, ZIvver served over 10,000 organizations, including Rotterdam Airport, AT Osborne, Nationale Nederlanden, University Hospital Frankfurt, and Bergman Clinics.

OneTrust provides compliance solutions that leverage AI tools and automation across all areas of privacy compliance. The company’s AI-powered solution sees widespread use, providing automation in the areas of data discovery, data subject rights management, consent management (with a user-facing preference center for greater control), data protection impact assessments, third-party risk management, incident response reporting, and monitoring.The company also provides regulatory research software that companies can use to train staff and even benchmark their own privacy programs. The company’s Government Records Request Automation solution helps government organizations intake requests, automate data discovery and redaction, and provide a secure two-way communication portal that demonstrates compliance with FOIA, PRR, and the Privacy Act. OneTrust’s products were backed by over 200 patents as of September 2024.OneTrust has strengthened its position in the digital privacy space through several acquisitions in recent years. In March 2021, OneTrust acquired DocuVision, an AI-powered data redaction platform to bolster its data subject rights capabilities through automatic redaction of non-relevant sensitive information. During the same month, OneTrust acquired Convercent to enhance its platform through advanced ethics and compliance capabilities, and helpline and disclosure management. OneTrust acquired the security assurance and certification platform Tugboat Logic in September 2021, to automate its InfoSec assurance and certification processes. Other notable acquisitions include Privacy Core e-learning, DataGuidance, and Integris Software.In March 2023, OneTrust announced the addition of certification automation to the OneTrust GRC and Security Assurance Cloud. This solution which combines automation, pre-built policies and controls spanning 29 industry frameworks, over 100 integrations, compliance content, and expert guidance enables customers to simplify and streamline compliance tasks according to OneTrust.Key customers and partnershipsAs of September 2024, OneTrust said it served over 14,000 active customers, including 75 of the Fortune 100. The company claims it serves notable organizations from all industries, with Adobe, Walgreens, Samsung, and Mearsk among its customer base.OneTrust entered a partnership with Dow Jones Risk and Compliance in April 2023, to incorporate risk and compliance data into its third-party due diligence solution.

OneTrust

CENTRL provides automated risk management and privacy management solutions. Through its Privacy360 platform, the company provides solutions to identify compliance gaps, automate data discovery, manage data subject rights requests, consent management (with a user-facing preference center), carry out impact assessments, third-party risk management, monitoring, and reporting.

CENTRL

HighSide provides a secure communications platform for organizations, enterprise archiving solutions, data discovery, and supervision tools in compliance with GDPR, CCPA, etc. In 2019, the company announced the acquisition of Hotshot Technologies, a secure team messaging platform.

HighSide

SecuPI provides a patented platform enabling organizations to achieve compliance with regulations such as GDPR and CCPA. The platform achieves this by providing multiple features to protect data such as pseudonymization, consent controls, audit logs, streamlining breach notifications, etc. SecuPI’s platform is deployed in organizations in the banking, insurance, telecommunications, and health industries.

SecuPi

JoinPrivacy is a B2C solution that allows users to manage their personal data from the websites they use, all from one place.

JoinPrivacy

Solutions to prevent the tracking and collection of the personal data of end-users.

Encrypted communications and data exchanges for internal and external collaboration around sensitive data.

Tools to provide compliance with privacy regulations, such as GDPR and CCPA, and carry out tasks such as data discovery, data governance, consent management, Data Subject Rights (DSR) management, Data Protection Impact Assessments (DPIA) and managing incident response as mandated by these privacy regulations.

Synthetic data generation, data de-identification and anonymization, and other solutions for managing sensitive data.

Storage infrastructure for holding data in compliance with regulations such as GDPR or data residency requirements.

Central management of data access and data privacy and security policies.

Uses AI/ML to automate workflows such as data discovery and data classification

Uses generative AI to provide conversational recommendations to users to remain compliant with privacy regulations

Solutions in this industry hub are offered under a B2B SaaS model

Zivver is a Dutch company that has developed a secure communication platform designed to prevent data leaks and ensure compliance for organizations in regulated industries such as healthcare, government, and legal sectors. The platform integrates with popular email clients like Outlook and Gmail, providing advanced security features like encryption, multi-factor authentication, and data leak prevention.
Zivver's technology works by automatically detecting sensitive information, unusual recipients, and other potential risks in outgoing communications. Users can correct errors and encrypt emails with a single click or even automatically. The platform also offers secure file sharing, allowing users to send up to 5TB of files securely from their email clients.
One of Zivver's key differentiators is its ability to revoke access to emails or set expiration dates, even after they have been sent. This gives organizations greater control over their sensitive data. Additionally, Zivver provides legal proof of delivery for sent, received, and opened emails, helping organizations meet compliance requirements.
Zivver's business model involves offering its secure communication platform as a service to organizations, likely through subscription-based pricing. As of October 2020, the company had secured over USD 30 million in total funding.
In August 2020, Zivver announced a strategic partnership with IRIS Nederland, an information management company, to offer its solutions to IRIS's customer base. Additionally, in October 2020, Zivver was recognized in Gartner's 2020 Market Guide for Email Security and won contracts with the UK government's G-Cloud 12 Framework and the NHSX Clinical Communication Tools Procurement Framework.

Abnormal Security is a cloud-based email security platform that leverages AI and behavioral data science to detect and block sophisticated email attacks that evade traditional email gateways. The company's core offering is an inbound email security solution that protects against business email compromise, phishing, malware, ransomware, social engineering, and other advanced threats.
Abnormal's platform establishes a baseline of normal behavior for each employee, vendor, and application within an organization's email environment. By understanding "known good" activity patterns, the AI can precisely identify anomalies and remediate malicious emails in real-time before they reach inboxes. This behavioral analysis approach provides more effective threat detection compared to traditional email security focused on indicators of compromise.
The platform integrates directly with cloud email providers like Microsoft 365 and Google Workspace via an API, enabling rapid deployment without the need for a secure email gateway. Beyond inbound email protection, Abnormal also offers account takeover protection and SOC automation capabilities.
Abnormal expanded its platform in April 2023 to provide security monitoring and threat detection for collaboration apps like Slack, Microsoft Teams and Zoom. By ingesting identity signals from these additional data sources, the AI models can better understand cross-channel behavior and identify lateral movement by attackers across an enterprise's cloud environment.
Key customers and partnerships
Abnormal Security works with organizations across industries including government, finance, energy, manufacturing, technology, and consulting. Notable customers include PagerDuty, UserTesting, and Vungle, amongst others.
In January 2022, Abnormal announced a partnership with Microsoft to enhance native protection capabilities within Microsoft Defender for Office 365.

Abnormal Security

Menlo Security provides cloud-based security solutions centered around its patented Isolation Core technology. This technology creates an "air gap" between users and the internet, isolating the browsing process in the cloud to protect against web-based threats like phishing, drive-by exploits, and zero-day attacks. The company's Cloud Security Platform leverages this Isolation Core to enable secure internet access and browsing without compromising user experience.
Menlo Security's solutions aim to eliminate malware infections, including ransomware, by moving the fetch and execute functions of web browsing away from users' devices and networks. Only safe, non-executable content is rendered on users' devices, providing a seamless browsing experience while mitigating risks. The platform is designed to help organizations embrace cloud transformations securely without sacrificing data visibility, control, or user experience.
In March 2019, Menlo Security partnered with By Light to deliver a cloud-based internet isolation (CBII) solution for the Defense Information Systems Agency (DISA), protecting over 3.5 million users worldwide across the US Department of Defense and its branches. This solution leverages Menlo's Cloud Platform and Isolation Core to secure internet access for defense officials deployed globally.
In January 2023, Menlo Security's Cloud Security Platform powered by its Isolation Core received Authorization to Operate (ATO) at the moderate level under the Federal Risk and Authorization Management Program (FedRAMP). The company also announced the detection of "Highly Evasive Adaptive Threats" (HEAT) that bypass traditional security defenses, highlighting the need for its Zero Trust approach.
Additionally, Menlo Security acquired an undisclosed company in February 2023, expanding its capabilities to address the evolving threat landscape.

Menlo Security

<div>
 
 Darktrace is a global cybersecurity company that uses artificial intelligence (AI) to detect and respond to cyber threats in real-time. Founded in 2013 in Cambridge, UK, Darktrace has developed an AI-powered &quot;Enterprise Immune System&quot; that learns the normal behavior patterns within an organization's digital systems and identifies anomalies that may indicate cyber attacks or vulnerabilities.
 
 
 
 
 Darktrace's core product offerings include Darktrace PREVENT, DETECT, RESPOND, and HEAL. The PREVENT module proactively identifies risks and vulnerabilities. DETECT uses machine learning to spot threats in real-time across networks, cloud environments, IoT devices, and email systems. RESPOND provides autonomous response capabilities to contain active threats within seconds. The HEAL module, slated for release in 2023, aims to restore systems to pre-attack states.
 
 
 
 
 The company's technology can monitor up to 1 million devices and is compatible with major cloud providers like AWS, Google Cloud, and Microsoft Azure. Darktrace claims its AI can reduce threat investigation time by 92% compared to manual methods. The platform provides visualization tools like the Threat Visualizer to help analysts investigate anomalies.
 
 
 
 
 In April 2021, Darktrace went public on the London Stock Exchange at a USD 2.37 billion valuation. The company reported having over 9,400 customers across more than 100 countries. The company's AI cybersecurity solutions are used by organizations of all sizes across various industries.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 
 Darktrace's client base includes notable companies like Allianz, Airbus, and the city of Las Vegas. In June 2024, Darktrace won Microsoft UK's Partner of the Year Award, highlighting the growing collaboration between the two companies. Darktrace's AI tools are now fully compatible with Microsoft Copilot for Security, allowing customers to analyze Darktrace's security data using natural language processing. This integration aims to speed up threat response and investigations for joint customers.
 
</div>

Darktrace

Material Security is an email security company that pioneered the use of zero-trust techniques to protect email accounts and their contents. The company's platform automatically classifies and reacts to sensitive content in emails, securing critical messages without impacting productivity. Its key product offerings include account takeover protection, which prevents attackers from hijacking other services by adding a verification step before granting access to password resets and critical messages. The platform also offers phishing "herd immunity" that allows a single report from any employee to protect the entire organization instantly.
Material Security provides visibility and control over an organization's entire email footprint, surfacing foundational risk factors and offering one-click remediation tools claimed to expedite investigations. The service integrates with Office 365 and Google Workspace via APIs without affecting MX records or email delivery. As of May 2022, the company served customers such as Chubb Ltd., Compass Group plc, Roblox Corp., Brex Inc., Lyft Inc., Mars Inc., Databricks Inc., and DoorDash Inc.
In May 2022, Material Security raised USD 100 million in Series C funding at a USD 1.1 billion valuation, achieving unicorn status just two years after its official product launch. The company planned to use the funding to expand its sales, marketing, and engineering teams, extend into new areas like government, and grow internationally. As of May 2024, Material Security had been acquired, with details of the acquisition included in the "Overview" section.

Material Security

Tessian is an email security company that focuses on protecting enterprises from threats arising due to human error. It leverages machine learning to build behavioral models for all employees and automatically detect security threats such as business email compromise, data exfiltration, phishing, and accidental data loss. Tessian's platform, referred to as "human layer security," notifies employees of these issues to help improve individual security behaviors.
In May 2021, Tessian had raised a total of USD 123.7 million in funding and was valued at USD 500 million. At that time, the company planned to invest in research and development, expand its product offerings beyond email security, and grow its workforce globally.
Tessian's approach proved effective, as evidenced by a report from July 2022 that found US employees sent an average of four emails to the wrong person each month in the first nine months of 2021. Nearly one-third of employees who reported such incidents indicated their business lost a client or customer due to the error.
In December 2023, Proofpoint, a leading cybersecurity and compliance company, acquired Tessian. The acquisition aimed to combine Proofpoint's threat and data loss protection technology with Tessian's AI-powered behavioral and dynamic detection capabilities. This integration was expected to provide organizations with a comprehensive defense against human-targeted threats and prevent data loss across various collaboration channels.

Tessian

Solutions that use AI to detect and block email-based attacks including phishing, business email compromise, malware, impersonation, spam, and data exfiltration.

Solutions that use AI to eliminate email-based attacks caused by inadvertent or malicious acts by internal users from leaving the network.

Solutions that encrypt emails for secure access and collaboration.

Solutions that automatically detect and prevent accidental data loss caused by sending emails to the wrong recipients or with wrong attachments.

Solutions that provide user awareness training on email-based threats.

Solutions that securely store emails in an accessible location for future retrieval.

Uses AI/ML and behavioral analysis to detect suspicious activity in emails

Uses NLP to detect suspicious activity in emails

Zivver

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