Uniqkey's Mission to Empower European SMEs
Uniqkey, a cybersecurity firm based in Denmark, has successfully raised €5.35 million to expand its cutting-edge cybersecurity solution across Europe. This initiative aims to bolster the resilience of small and medium-sized enterprises (SMEs) against cyber threats and data breaches.
The Cybersecurity Challenges Facing SMEs
In Europe, the low security standards among SMEs pose a significant risk. With 24.3 million SMEs constituting 99.8% of all European companies, nearly half, 12 million, lack an effective cybersecurity strategy. This vulnerability has the potential to disrupt the European economy drastically.
Upcoming Regulations: NIS2 and DORA
Regulations like NIS2 and DORA are imminent, emphasizing the importance of robust IT security. These regulations will hold company directors and boards personally accountable for the cybersecurity measures within their organizations, similar to how GDPR revolutionized data privacy.
The Rising Threat of Cyber Attacks
Modern work practices, such as remote work, have increased digital footprints, making companies more susceptible to cyber threats. Uniqkey offers a military-grade solution that secures passwords at the employee level, enhancing protection against cyber attacks.
Uniqkey's Innovative Solution
A staggering 81% of data thefts are due to poor password management. Uniqkey addresses this by integrating a mobile app for authentication, akin to local ID apps used for banking. This approach ensures passwords are encrypted to the highest standard, reducing the need for users to memorize them.
Strategic Investment and Growth
The recent investment was led by BackingMinds and included contributions from industry veterans such as Jesper Zerlang and Lars Ankjer. Uniqkey has already protected over 500 SMEs and has experienced 100% year-on-year growth over the past two years.
Uniqkey's Vision
According to Hakan Yagci, CEO and founder of Uniqkey, the reliance on mobile phones for everyday online access is central to their security solution, which is why they've seen significant demand. With this funding, Uniqkey plans to continue its growth trajectory and remain aligned with the latest security standards.
