The European Super Angels Club (ESAC) is thrilled to welcome CYBERTRAP into its elite portfolio of cutting-edge technology companies. With an investment exceeding half a million euros, ESAC has taken a significant step to empower this exceptional cybersecurity firm.
A New Era for CYBERTRAP
CYBERTRAP, a Vienna-based cybersecurity company, has already established itself as a leader in Deception Tech within the DACH region (Germany, Austria, Switzerland). Their intelligent technology redirects and exposes cyber attackers within a specially crafted IT infrastructure. This is rendering them powerless to penetrate a company’s actual network. Now, it is without a doubt embarking on an exciting new chapter with fresh leadership and the substantial backing of ESAC, the largest pan-European investor network. Spearheaded by the 2023 Business Angel of the Year, Berthold Baurek-Karlic, ESAC’s investment in CYBERTRAP marks the beginning of a major investment round. This strategic step is undoubtedly set to give CYBERTRAP the momentum required not just for a reinvention. It is also needed for finally achieving its long-awaited international breakthrough.
Addressing a Growing Challenge
The landscape of cyber threats is rapidly evolving. According to the KPMG study “Cybersecurity in Austria 2023,” cyberattacks have tripled in just one year. Reports of cybercrime are on the rise, while the clearance rate remains dismally low at 34%. The consequences of these attacks are profound, encompassing reputational damage, operational disruptions, and staggering recovery costs, often reaching into the millions. Recognizing the urgency of this challenge, ESAC, along with industry experts, is determined to address this issue head-on. These experts include Clemens Foisner, Jürgen Kraupa, and Adi Reschenhofer, who has joined CYBERTRAP’s management team.
CYBERTRAP: Beyond the Name
CYBERTRAP’s innovative approach lives up to its name. Attackers are basically lured into a simulated IT environment where they can be meticulously observed. Furthermore, this is enabling the identification of their techniques and sometimes even their identities. This not only fortifies cybersecurity but also significantly enhances the clearance rate of cyberattacks. This groundbreaking approach not only fortifies cybersecurity but also significantly enhances the clearance rate of cyberattacks. As a result, this ultimately empowers organizations to stay one step ahead of evolving threats in the digital landscape.
Championing Excellence in European Technology
ESAC’s investment in CYBERTRAP is not just a financial commitment; it’s a strategic partnership aimed at fostering excellence in European technology. As Berthold Baurek-Karlic, President of the European Super Angels Club and CEO of Venionaire Capital, puts it, “We firmly believe that with CYBERTRAP, we are supporting a future Austrian ‘Hidden Champion.’ This success story, like others in our portfolio, demonstrates that top-notch technology ‘Made in Europe’ can excel in the market.”
Investing in a Secure Future
ESAC understands that the battle between security technology and attackers is an ongoing race. Therefore, it can only be won through substantial investments in research and development. Moreover, Adi Reschenhofer, a long-term partner of Venionaire Capital and a cybersecurity expert, has been an investor in CYBERTRAP since 2021. In 2023, he took an active role in the company’s leadership. He is bringing a wealth of experience, expertise, and a strong network to further bolster CYBERTRAP’s operational sales efforts. Together with the founders, this collaboration has propelled the company to remarkable success and profitability.
A Commitment to Innovation
ESAC’s mission is to elevate Austria from a research-focused hub to an innovation-driven powerhouse. Startups like CYBERTRAP play a pivotal role in this transformation, contributing significantly to Austria’s prosperity. As Berthold Baurek-Karlic emphasizes, “In my role as President of the European Super Angels Club and as the Business Angel of the Year 2023, it’s my mission to enhance the visibility and significance of startups and SMEs in the broader public eye.”
Expanding Our Portfolio
With the addition of CYBERTRAP, ESAC’s exclusive portfolio now comprises 13 carefully selected technology-based investments. ESAC not only provides financial support but also offers substantial mentoring and guidance, empowering these companies to thrive and grow. Together, we are driving technological innovation and securing a brighter, more secure future.