André Baptista, the "Most Valuable Hacker" (MVH) from Coimbra, has just raised four million euros for his cybersecurity startup, Ethiack. Founded in 2022 by Baptista and fellow "ethical hackers" Jorge Monteiro and Vítor Pinho, Ethiack specializes in continuous cybersecurity testing using artificial intelligence. The company aims to protect the internet by simulating ethical hackers’ approaches to test digital assets for vulnerabilities.
Baptista, who earned the MVH title twice, first in 2018 and again in 2023, is well-known for his role in identifying critical vulnerabilities in TikTok and EPIC Games during a competition in Las Vegas. This recognition has cemented his status as a leading figure in cybersecurity.
Ethiack, which emerged from the Pedro Nunes Institute, has already tested over 150,000 digital assets, detecting critical vulnerabilities impacting businesses worldwide. With the new funding, the startup plans to launch AI-powered hackbots designed to detect and report vulnerabilities around the clock. The technology, which simulates the work of ethical hackers, will enhance cybersecurity efforts globally.
The seed funding round, which includes investors like Explorer Investments, CoreAngels, and Startup Wise Guys, will help Ethiack expand into new markets, including the UK, Europe, the USA, and the Middle East. With a client portfolio spanning nine countries and a team of 10, Ethiack has achieved one million euros in turnover in just two years.
Explorer Investments, which led the round, highlighted the startup’s innovative approach to cybersecurity, combining AI with ethical hacking to create scalable, high-impact solutions for the digital age.
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