Kibo Ventures, through the Amerigo Investment fund, Telefónica Ventures, the venture capital arm of Telefónica, and the entrepreneur Roger Casals, have invested 2.5 million euros in the cyber security company Blueliv, to develop new products and fund the firm’s international expansion. This makes Blueliv the first example of joint investment between Kibo Ventures, a branch of the Amerigo Venture Capital network sponsored by Telefónica, and Telefónica Ventures. Telefónica will also endorse the company’s potential through Telefónica Digital and its subsidiaries in Europe and Latin America, by including Blueliv solution in its cyber security offer.
Blueliv has developed a cloud-based solution that protects organizations from credit card fraud, data theft, and the latest generation of malware and cyber threats. In response to the need of businesses and governments to stem the rapid transformation and evolution of cyber attacks, Blueliv has designed an innovative, highly valued technology that enables real time searches for threats originated outside the perimeter of a company’s Information Systems.
“Organizations must be aware of what’s happening beyond their Information Systems and combat cyber threats that originate outside their companies. Security vendors continue to offer technologies based on old conventional models and are unable to provide an active intelligent solution to malware and other persistent and increasingly sophisticated new threats,” explains Daniel Solis, CEO and Founder of Blueliv and continue, “Confidence in the project on the part of Telefónica, Kibo Ventures and Roger Casals, will help us achieve our goal of becoming an international leader in cloud-based against cybercrime technology.”
In the two years since its launch, Blueliv has obtained important clients in the financial, energy and telecommunications sectors in Spain and Latin America. A reinforcement of the shareholding structure –thanks to Kibo Ventures and Telefónica Ventures– coupled with Roger Casals’ business experience in the security sector, will enable Blueliv to consolidate its leadership position with its product and embark on international expansion in the United States, Latin America and Europe.
In the coming years, Blueliv expects to increase its turnover exponentially, reaching 25 million euros by 2017. Moreover, this year the company plans to double the number of cyber security and intelligence specialists.
“Cyber attacks have become a crucial issue for the largest enterprises in the world, which have been compromised across industries in the last year. The space for innovative security companies has flourished with over $1.4bn in venture capital invested in 2013, with roughly half of that specific to monitoring companies”, says Jack Leeney, US Head of Telefónica Ventures. “We see Blueliv as a differentiated threat management platform suitable for our most important customers of all size and an intuitive software that can actually proactively monitor and protect. Our goal with Blueliv is to further this platform globally where it will continue to be crucial and a very relevant platform in the ever evolving security space.”
Javier Torremocha, a founding partner of Kibo Ventures, explains, “Cyber threats are rampant these days and they pose a serious risk to the current development of companies and governments.” He continues, “Blueliv’s cyber threat prevention solution, fits perfectly with our investment strategy, which focuses on innovative, globally applicable technology.” In order to implement the capital increase, Blueliv received legal counsel from Rousaud Costas Duran (RCD), a law firm specializing in technological start-ups, innovation, and entrepreneurship. Kibo Ventures and Telefónica were adviced by Baker & McKenzie.