ZeroRisk, a three-year-old Irish cybersecurity company has raised $10m (€8.6m) in investment funding to finance a global expansion and product development.
ZeroRisk provides services to payment providers and retailers to manage and reduce cyber risk across their merchant portfolios. Its partners currently include Bank of America and Checkout.com.
It was set up in 2023 and operates in Ireland the United States with offices in Dublin, Atlanta and Longford.
Co-founder and CEO of ZeroRisk, Gary Nolan, said his business is meeting need where traditional approaches to managing risk in the payments space cannot keep up with the current challenges.
“Their customers are dealing with scams, credential theft, website vulnerabilities and attacks on devices every day. Our job is to give payment providers visibility across the portfolio and give merchants a clear route to action,” he said.
“ZeroRisk has moved from proving the product to deploying it at scale. This investment will allow us to expand the team, deepen the platform and support the payment providers that have chosen to build their next-generation of merchant cyber programmes with us,” he said.
The so-called Series A fund-raising round was led by new investor MiddleGame Ventures, a US-European investor that specialises in financial services. It is also backed by Irish wealth manager Elkstone’s venture capital arm, which was already a backer of ZeroRisk. Elkstone was also part of a 2024 funding round that raised €3.6m for ZeroRisk.
Niall McEvoy, Head of Venture at Elkstone, said ZeroRisk’s commercial progress in a short period of time had been impressive.
“The Series A funding round further validates investor confidence that ZeroRisk can deliver transformational change in the sector globally,” he said.