Portuguese startup Probely raises €7.7 million in Series A round

  • ECO News
  • 25 October 2022

Iberis Capital and Semapa Next lead a €7.7 million investment round for Probely, which aims to triple its team and expand in the US by the end of 2023.

Porto-based startup Probely, which operates in the cybersecurity sector, has just raised €7.7 million in a series A round to strengthen the team with 40 people and its international expansion, specifically in the United States.

This investment round was co-lead by Iberis Capital and Semapa Next, had the participation of an international investor specialised in cybersecurity (TIIN Capital) and was accompanied by current investors: Bright Pixel Capital (former Sonae IM), Caixa Capital, Portugal Ventures and EDP Ventures.

“This investment is crucial both for the financial capacity building that will allow us to scale the business in strategic markets and to benefit from the vast experience of the new investors in key areas for our growth,” stresses co-founder and CEO Nuno Loureiro. According to a press release, by the end of 2023, it counts on more than tripling its customer base and hiring 40 more employees for various teams, including sales and marketing.

Founded in April 2016 and based at the University of Porto’s Science and Technology Park (UPTEC), Probely has developed a solution that identifies vulnerabilities in websites, applications and APIs in an automated way. Most of the current customers are in the US and the UK.