We are thrilled to announce the 15th exit from our investment portfolio – TRAPMINE. This exit holds a special place in our hearts as it is the first one in the cybersecurity vertical and it is the first exit of Turkish and Argentinian founders from our portfolio. Trapmine took part in the SaaS program Batch 9 in the winter of 2017/2018, held on-site in Riga. It was the first ever cyber investment we have done prior to launching Startup Wise Guys cyber dedicated programs in 2018 and our dedicated wise guys cyber fund in 2021..
“Since day one in 2017, we saw a team that could create a world-class product. It is amazing to see how during the last 6 years and against all odds they developed and maintained a state-of-the-art anti-malware product being at the forefront of the cybersecurity industry. It has been a personal honor to coach Celil himself along all these years.”
TRAPMINE was founded in 2017 by well-known security researchers in the industry. Prior to starting TRAPMINE, co-founders worked together in the cyber security domain to hunt vulnerabilities, analyze malware and develop security solutions for long years.
Trapmine provides integrated endpoint protection against next-generation threats that traditional security solutions cannot stop. Instead of pre-defining and statically detecting attacks, it determines the techniques used by the attacks and provides active protection.
“We are very happy because after going through the ups and downs that every startup experiences, we had a successful exit. When starting this adventure, I knew that having a strong team was the most important factor for success. Secondly, having a mentor and early-stage investors like Startup Wise Guys, whom you can always consult and rely on throughout the entrepreneurial journey, is equally crucial from the launch to the exit of the startup. As the CEO of Trapmine, I can honestly say that the entire Trapmine team deserves credit for this success. A piece of advice that could be valuable for all entrepreneurs is ‘Marry the believers, divorce the nay-sayers.”
Cybersecurity Takes Center Stage
In recent years, cybersecurity has become a critical concern for individuals and businesses alike. With the increasing frequency and sophistication of cyberattacks, the demand for cutting-edge cybersecurity solutions has soared. Seeing the Trapmine team in action, and the increased demand for cybersecurity solutions, we launched an entirely cyber and defense dedicated accelerator program in 2018 and our own wise guy’s cyber fund in 2021 and currently have 36 cybersecurity-related startups in our portfolio. We remain committed to supporting and investing in startups that are at the forefront of tackling today’s most pressing challenges.
To sum it up, this exit is a historic moment for our cyber investments portfolio and the Turkish tech ecosystem. We are proud to have played a part in the journey of Trapmine, and we look forward to witnessing the continued growth and impact of the Turkish tech industry. Previous notable exits from the Startup Wise Guys portfolio include VitalFields (exited 2016 to Climate Corporation), StepShot (exited 2019 to UiPath), Vochi (exited 2021 to Pinterest).