The acquisition represents the primary exit from Elkstone Enterprise Fund I, two years after its preliminary funding.
Dublin-based Mesh Safety is being acquired by Romanian cybersecurity agency Bitdefender for an undisclosed sum.
The Elkstone-backed Mesh claims to be the primary electronic mail safety platform constructed completely for managed service suppliers – third-party firms that present IT providers to different companies.
Based in 2020 by Brian Byrne, Ralph Casey and Daimhim Kavanagh, the Irish start-up helps shield from enterprise electronic mail compromise, ransomware and spear-phishing assaults.
In accordance with the corporate, it offers dual-layered safety to its greater than 4,000 prospects unfold throughout Eire, the UK and US. This consists of perimeter safety by means of a safe electronic mail gateway and mailbox-level defence by means of API deployment.
With the acquisition, Bitdefender plans to combine Mesh’s choices into its unified safety, compliance and danger analytics platform.
Bitdefender’s greater than 41,000-strong clientele are set to learn from the Irish firm’s centralised email-security platform and round the clock safety, whereas reducing operational prices by means of automated coverage enforcement and real-time risk updates, the 2 mentioned.
“With Bitdefender by our facet, we’re excited to reinforce safety for much more organisations collectively,” mentioned CEO Byrne.
Mesh raised €1.55m in a seed funding spherical in 2023 led by Elkstone, with backing from Enterprise Eire. The increase was a part of Elkstone’s Enterprise Fund I, Eire’s largest early-stage enterprise fund, which launched again in 2022.
With the infusion, Mesh introduced that it could be creating 40 new jobs over the approaching 4 years. The acquisition won’t disrupt Mesh’s current group, who will stay in place and retain their positions, the corporate mentioned.
In accordance with the Enterprise Submit, Mesh at the moment has 18 workers and plans to double its headcount throughout the subsequent 18 months.
Furthermore, the acquisition additionally represents the primary exit from Elkstone’s Enterprise Fund I, highlighting the effectiveness of early-stage enterprise capital in scaling Irish tech firms to the worldwide stage, concerned events mentioned.
“We’re extremely grateful to Elkstone for his or her unwavering assist, which has been integral to our journey,” mentioned Byrne.
Niall McEvoy, the managing director of enterprise at Elkstone, mentioned: “We’re proud to have backed the Mesh group by means of their speedy progress journey, pushed by the expertise of founders Brian, Ralph and Daimhin.
“It’s additionally a major second for Elkstone two years after our preliminary funding. It serves as a shining instance of the success of Irish ventures on the worldwide stage.”
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