Cy4gate, which deals with cyber security and cyber intelligence at national and international level, has started a strategic partnership with CDP Venture Capital SGR, main Italian venture capital manager, through the Boost Innovation Fund. The operation involves the establishment of a j with headquarters in Rome, which will offer cyber security solutions to the segment of Italian SMEs. The launch of a cyber insurance product, which will guarantee a coverage against cyber risks.
Cy4gate is listed on the Star segment of Business Square. Mid-day today the title share of 6,33 euros up by 0,48%. In the last month it has gained more than 9%.
The joint venture has 3 million, with possible increases to 9,5 million
The company, whose governance will be equally distributed between the two partners, will be guided by Guglielmo Carsana, with over twenty years of experience in companies in the IT sector and as an entrepreneur in the insurance sector. He will have provided with total resources of 3 million of euros between assets and capital, which may be increased up to 9,5 million by members.
The partnership with Cy4Gate leads to the launch of a new company dedicated to providing cyber security solutions to Italian small and medium enterpriseshe said Agostino Scornajenchi, CEO and General Manager of CDP Venture Capital SGR who continues: “In an era in which the digital threats are constantly evolving, it is essential that they also SMEs have access to advanced technologies and high-level protection services. The objective we have set ourselves is to offer personalized and accessible solutions that allow companies to operate safely and serene, thus contributing to their success and to the growth of the Italian entrepreneurial fabric, in the belief that every business, regardless of its size, deserves to be protected with the utmost care and competence."
“The perception of cyber insecurity that many entrepreneurs experience today is a topic of daily debate in every context. Our alliance marks the beginning of the creation of a "tailor-made" offering for small and medium-sized national companies that intend to improve their posture on cyber security following a digitalisation path" said Emanuele Galtieri, CEO and General manager of Cy4Gate Group.
Il cybersecurity services market of SMEs is growing strongly, with projections of over 750 million euros in 2028, in line with the growth of attacks detected in Italy and regulatory innovations at a European level, Websim analysts write. This growing need clashes with the scarcity of turnkey solutions aimed at the SME segment which often do not have the appropriate skills within them. The sales volumes of cyber insurance products in Italy are growing strongly, with a CAGR of 35-40% in the last 5 years.
