Build38 offers solutions and services designed to improve the security of mobile applications in the face of known and unknown attacks. The company protects applications across various industries, including financial, digital identities, public transport, automotive, and healthcare.
This Series A funding round led by Tikehau Capital, through its European Cybersecurity Growth Fund also included participation from existing investors eCAPITAL Entrepreneurial Partners and Caixa Capital Risc.
According to the official press release, users are increasingly relying on their mobile devices for everything from work and banking to shopping and social media. In this context, the importance of protecting applications against malicious parties is also accelerating, especially since a single user can have on average 40 applications installed on a single mobile device, and over 70% of digital commerce now takes place on mobile.
The Germany-based company offers a Trusted Application Kit (T.A.K), which was designed to integrate into any Android or iOS mobile app during the development phase and provide several protection layers. Each layer includes its own security controls and levels of protection that are more powerful than traditional Android or iOS security mechanisms. The system offers endpoint protection for organisations, as well as mobile application firewalls, and AI-powered threat intelligence for fraud and attack prevention.
Build38 can also help companies create self-defending mobile applications for any smartphone while complying with data security regulations around the world. This can help organisations to minimise development time and efforts and decrease costs for app security and maintenance.
In the official press release, Build38 representatives highlighted the role mobile applications play in today’s digital society as well as the fact that security incidents can cause severe reputational and financial damage to companies. They also expressed their commitment to bringing continuous protection and threat intelligence to both business-critical and everyday applications.
In turn, Tikehau Capital officials noted how application security is one of the fastest-growing subsegments of cybersecurity and expressed their support for Build38’s team in their efforts to improve the company’s position as a mobile AppSec provider.
The company will use the EUR 13 million obtained in the Series A funding round to increase its global customer reach and to increase its mobile partner ecosystem. The funds will also be used to expand its platform with new threat intelligence analytics and AI capabilities.
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