CybExer Technologies, an Estonian cybersecurity firm specialising in AI-powered training and testing solutions, has secured €1.5M in funding through SEB’s Baltic Venture Debt programme.
This marks the programme’s first investment since its launch in spring 2024, and opens new ways for the region’s founders to access growth capital. The deal was completed in partnership with Nasdaq Baltic CSD and Ellex Raidla.
The Tallinn-based company provides IT and security teams with advanced cybersecurity training and assessment solutions worldwide. Their flagship product is Cyber Range service, which allows organisations to conduct realistic cybersecurity exercises.
Besides that, CybExer’s solution portfolio includes:
- Advanced cyber ranges for realistic training scenarios
- Digital twin capabilities for system testing and simulation
- AI-driven technology for cybersecurity assessment
- Comprehensive training programs for IT and security teams
The company has gained recognition for its work with high-profile clients, including the Estonian Defence League’s Cyber Unit, where they’ve provided sophisticated military-grade security training solutions adaptable for civilian organisations. To meet such criteria is no easy task — Estonia ranks 1st in Government Cybersecurity globally.
“In recent years, we have demonstrated stable growth, and this funding will allow us to further accelerate the progress of our company’s development,” said Andrus Kivisaar, CEO of CybExer Technologies. “We view this investment as the platform for successful collaboration between SEB and CybExer.”
The SEB Baltic Venture Debt programme offers growth financing of up to €2M per company without requiring equity stakes. To qualify, companies must demonstrate rapid growth potential with annual turnover increasing by at least 30%, have a proven product with paying customers, and show strong export ambitions beyond Baltic markets. Interest starts 10% above the base rate.
Pāvils Misiņš, Head of SEB Baltic Venture Debt, noted that CybExer’s impressive project portfolio and globally recognised client base were key factors in the investment decision. “After discussions with the company’s international clients, it became clear that it has accomplished a lot in its field and that its Cyber Range service is among the best in the world,” he said.
The investment aims to support CybExer’s continued development and global expansion, particularly in enhancing their AI-driven cybersecurity training and assessment capabilities.
As for Estonia, already famous for producing tech unicorns and venture firms, the country is now taking another step towards becoming one of Europe’s most active FinTech hubs. SEB, which operates in all three Baltic countries, has recently committed to moving its regional HQ to Tallinn, welcoming a favourable business and tax environment.
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