Xorlab gets the message in $1.9m round

Xorlab, a Switzerland-based email security software developer spun out from ETH Zurich, has received CHF1.9m ($1.9m) in funding, Startup Ticker reported on Thursday.
Swiss state-owned investment firm Zürcher Kantonalbank and non-profit investment office Hasler Stiftung provided the capital together with unnamed “veterans” with expertise in security and financial services.
Founded in 2015, Xorlab has developed a cybersecurity product called ActiveGuard that protects clients from targeted email attacks by using a combination of machine learning and advanced dynamic analysis in order to catch suspicious messages.
The funding will enable the company to accelerate its growth plans on the back of early business from clients including banking firm Julius Bär and web hosting services provider Netcera.
Xorlab reportedly secured $130,000 of prize funding in 2016 after winning a competition run by startup accelerator Venture Kick, but does not appear to have disclosed details of earlier equity funding.