Portugal’s Leading Cybersecurity Startup Ethiack Raises €4M to Revolutionize Ethical Hacking
We’re thrilled to celebrate a landmark achievement for Ethiack, one of the standout companies in our portfolio at Startup Wise Guys.
Ethiack has successfully raised €4 million, marking one of the largest tech investment in Portugal this year and a pivotal moment for the ethical hacking and cybersecurity landscape.
Since its founding in 2022, Ethiack has grown rapidly, achieving $1 million ARR, securing over 50 clients in nine countries, and protecting critical infrastructure for major organizations like ANA Airports and Portugal’s Cybersecurity Agency (CNCS). Their innovative technology has already tested over 150,000 assets, reinforcing their impact in safeguarding vital systems.
Ethiack’s Journey: From Vision to Industry Leader
Ethiack’s founders came to Startup Wise Guys with a bold vision to revolutionize cybersecurity through innovation in ethical hacking. From day one, their technical expertise and determination stood out. Their journey from a promising idea to a scalable, market-ready solution has been inspiring to witness.
“Ethiack came to our pre-accelerator program with two driven ethical hackers and an energetic, business-focused co-founder, Jorge. From the very beginning, we saw something special in their vision to revolutionize cybersecurity. During the program, we worked closely with them to refine their MVP, set up sales channels, and lay the groundwork for scaling.
They later became part of our Cyber 2022 program in Italy, where we helped them step beyond the Portuguese market, explore new opportunities, and prepare for global growth. We are proud to have been part of their journey from the start and to continue supporting them as they achieve new milestones.”
Their growth from a small founding team to a scalable, high-performing operation with global ambitions exemplifies what’s possible with a clear vision, hard work, and the right guidance.
Driving Cybersecurity Innovation
At the core of Ethiack’s success is Hackbot, their AI-powered Continuous Pentesting tool. Designed to operate like an always-available ethical hacker, Hackbot identifies vulnerabilities—including zero-days and critical threats—at scale. This funding will help Ethiack enhance Hackbot’s capabilities and expand its global reach, addressing the growing demand for proactive cybersecurity.
Looking Ahead
Ethiack’s €4 million funding round, supported by Explorer Investments, CoreAngels, and Startup Wise Guys, positions them to revolutionize ethical hacking further. With award-winning recognition like WebSummit’s Most Promising Startup and Portugal’s National Innovation Award, Ethiack continues to lead in cybersecurity innovation.
As they expand their team and technology, Ethiack exemplifies what’s possible with resilience, vision, and collaboration. We’re proud to have been part of their journey and can’t wait to see what’s next for this exceptional team.
Supporting Growth and Long-Term Success
At Startup Wise Guys, our mission is to empower startups to thrive. Ethiack’s journey highlights how our flagship programs provide the foundation for startups to grow, scale, and succeed on the global stage.
From helping them refine their product to setting up sales channels and guiding their market expansion, our role has been integral at every step. Being there from their inception and now participating in their €4 million funding round reflects our commitment to fostering long-term success.
