- Jscrambler raises more than US$2.3 million in a Seed Extension round led by Sonae IM with the co-investment of Portugal Ventures
Lisbon, Portugal. 5th March 2018 – The web security startup Jscrambler, today announces that it has raised more than US$2.3 million in a Seed Extension round led by Sonae IM and co-invested by Portugal Ventures.
The investment allows the company to expand its business and develop its portfolio, and is an important step in Sonae IM's internationalization strategy.
Rui Ribeiro, Jscrambler’s CEO and co-founder, explained that: "This investment will accelerate European and North-American market expansion and help more companies prevent and fight attacks that are growing in frequency and complexity but are being detected too late, with serious financial and reputational consequences for organizations”.
"In addition, it will also ensure the continued development of our product portfolio. Jscrambler recently introduced a new webpage integrity module that enables the real-time detection and removal of code injections, MITB attacks, DOM-tampering and data exfiltration on the client-side, and we plan to continue focusing on research and development to ensure the innovation and resiliency of our product line”.
Sonae IM is focused on being a European leader in cybersecurity and has, in the last few months invested in companies in the growth phase, such as Artic Wolf (USA) and Secucloud (Germany). It has also been investing in more Early Stage investments, between Pre-Seed and Series A, with the support and collaboration of Bright Pixel, Sonae’s company builder studio, which incubates the cybersecurity project Probe.ly. The investment in Continuum Security (Spain) and now more recently in Jscrambler are the two most recent examples of their efforts.
Alexandre Santos, Sonae IM’s Head of Venturing and Bright Pixel’s co-founder, says that “the participation in this round represents Sonae IM's largest investment in an early stage project, showing our confidence in Jscrambler’s product and team. More than a trend, digital transformation is a reality that brings with it several challenges for companies and in which user confidence is essential for business success”.
Since 2014, Jscrambler also boasts Portugal Ventures as an investor a company that has supported the internationalization of the product during the last few years. According to Celso Guedes de Carvalho, CEO of Portugal Ventures, "This round will allow the company to accelerate the expansion that has already begun and will continue to allow thousands of users to protect themselves from cyber attacks.”
Jscrambler has users across 150 countries, with the USA representing around 50% of its revenue, with more than 30,000 companies and individuals relying on its product to protect their online assets. These companies include Silicon Valley giants who operate in sectors such as streaming, e-commerce, and video games, as well as Fortune 500 companies in the banking and healthcare sectors.
About Sonae IM
Sonae IM is Sonae’s corporate venturing unit, focused on investing in tech-based companies in the telecommunications and retail sectors. With a flexible investment style and approach, Sonae IM aims to support growth stage companies, typically series-A and above. It is currently present in 13 countries, employing over 1,000 collaborators, with a portfolio that includes WeDo, Saphety, Bizdirect, S21SEC, Bright Pixel (a Company Builder Studio) and Movvo. For more information, please visit the official website.
About Portugal Ventures
Portugal Ventures is a venture capital firm that invests in seed round of Portuguese startups in tech, life sciences and tourism. Portugal Ventures manages assets of 260 million through 18 venture capital funds to invest in seed investment rounds.