First the French, now the Swedish -- looks like European startups are making a beeline for Boston.
And why not? After all, Beantown has been touted as a global epicenter for job growth and entrepreneurial opportunities in the world. Additionally, a recent WalletHub study ranked Massachusetts as the most innovative state based on metrics including share of tech companies, venture capital, R&D spending and more.
And now, Stockholm-based cybersecurity startup Detecitfy is headed to Boston to expand operations in the U.S. The six-year-old company, founded by three white-hat hackers, builds security tests based on research led by the global white-hat network and security researchers. Its automated scanner monitors threats to company websites and subdomains and simulates vulnerability tests.
"We automate hacker attacks to help companies strengthen their cybersecurity," Detectify's chief revenue officer, Carl Svantesson, told BostInno.
The startup already works with American companies like Spotify, Trello and King Video Games, the company behind games like Candy Crush Saga and Farm Heroes Saga.
Svantesson noted that Detectify currently has one employee in Boston but is looking to build out a team filling roles in business development, sales, marketing and customer success. The company will set up its Boston base at WeWork.
"We like Boston, it's a very nice city," Svantesson said. "The time difference works well for us and given the tech and startup scene and the talent pool, it seemed like a great choice."
New York City-based Insight Venture Partners led Detectify's $6 million Series A round in March 2018 with participation from existing investors like Inventure and Paua Ventures. This is not the first time Boston is attracting European startups. In February this year, Swiss employee experience software provider Nexthink said that it will double its Boston presence by moving to a bigger office and adding more to its staff.
