German cybersecurity firm RedMimicry, known for its platform that realistically emulates complex cyber-attacks, has secured substantial Seed funding to enhance realistic cyberattack testing.
Many businesses conduct defense tests selectively and under non-realistic scenarios, leaving process, technology, and collaboration vulnerabilities undetected.
However, regulations like DORA and NIS-2 require that companies execute comprehensive and regular security tests against current attack chains.
Established in 2023 by Alexander Rausch and Stefan Steinberg, RedMimicry offers repeatable emulations for validating defenses against threats like malware and targeted attacks. This service allows clients to sustainably boost security while cutting down costs and efforts. Beyond direct collaboration, RedMimicry partners with others to bolster security processes for companies of all scales.
Alexander Rausch, RedMimicry CEO, stated:
“Our vision is to empower companies to independently and effectively defend against increasingly complex cyber-attacks. With seasoned investors backing us, we can significantly enhance our technology and expand our market reach.”
The funding round was led by High-Tech Gründerfonds (HTGF), with contributions from Capital Square in Hamburg, superangels from Munich, and various renowned business angels.
Björn Sykora, HTGF Principal, commented:
“Alex and Stefan bring together technical excellence and entrepreneurial vision. RedMimicry addresses a major risk companies face today: defending against cyber-attacks. They offer a European security solution beneficial for both medium and large enterprises.”
Martin Ostermayer, Capital Square co-founder, remarked:
“RedMimicry’s compelling vision and remarkable team exemplify the ambition and expertise we seek in founders – and we believe they will set new cybersecurity standards.”
The new funding will aid RedMimicry in further developing its product platform, especially focusing on specific threats such as attacks on critical infrastructure (operational technology, OT) and financial service providers. The company is also investing in sales and expanding its partner network.
Lead image: Alexander Rausch, Founder & CEO of RedMimicry, Stefan Steinberg, COO of RedMimicry, and Björn Sykora, HTGF Principal (Photo: Alexander Klebe).