Funds for European Risk Intelligence Specialist Quo

Frankfurt, Germany-based risk intelligence specialist QuoIntelligence GmbH has closed a EUR 7.3 million Series A financing round. Funds will be used for European market expansion, product development and team growth.

The firm is developing a Unified Risk Intelligence standard for European mid-market organisations, providing them with contextualised, ready-to-use threat intelligence, removing the need for an in-house team of specialists. Its offer combines Mercury, an AI-powered threat intelligence platform, and a team of analysts who review, curate and contextualise 'every' intelligence output in a client's language and sector. The analysis is then available to employees at all levels of a company via a conversational AI analyst called KARLA.

The firm was founded in Frankfurt in 2020 by Marco Riccardi, and is geared to helping clients meet the relevant European standards for the sector including ISO 27001, NIS2 and DORA. These standards mandate proactive and preemptive cyber risk management and supply chain oversight across more than 160,000 European organisations, of a size the firm says will struggle with the 'significant six-figure investment' required just to hire the talent needed for an in-house compliance function.

Clients are European organisations in finance, government, manufacturing, retail and transportation. Frankfurt is Europe's financial capital, home to the European Central Bank and the operational centre of much of the German Mittelstand now falling inside NIS2 and DORA scope.

The round was led by Elevator Ventures, the venture capital arm of Raiffeisen Bank International, and co-led by BMH Beteiligungs-Managementgesellschaft Hessen (BMH), with participation from returning investor eCAPITAL ENTREPRENEURIAL PARTNERS, and further supported by Mercurius Private Equity.

The company, which also has operations in Italy and Spain, stores all intelligence data under EU jurisdiction, regardless of where its clients are located, but says it combines with 'matching the intelligence depth previously available only from US, Russian or Israeli vendors.'

CEO and founder Marco Riccardi (pictured) states: 'World-class threat intelligence has always been described as something only large teams can produce. We built QuoIntelligence to prove that wrong: our vision is Unified Risk Intelligence - cyber threats, physical risks, and geopolitical signals converging into decisions, not just alerts, for any organisation, within hours of onboarding, under European law. NIS2 and DORA have turned what was a competitive advantage for our customers into a regulatory baseline for every mid-market company in Europe. This round gives us the fuel to build that standard at scale, and Elevator Ventures, BMH, and eCapital are the partners who make it possible.'

Web site: www.quointelligence.eu .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.