Startup growth during a Covid 19 pandemic? Polish data privacy startup showed that it’s possible

CyberHeaven’s Progress & Product Launch During a Pandemic

WARSAW, POLAND, April 6, 2021 / — CyberHeaven’s Progress & Product Launch During a Pandemic

Polish data privacy startup show that startup growth is possible despite the challenges caused by Covid 19

Just months after CyberHeaven Sp z o.o. registered their company in Poland, a global pandemic swept the world resulting in a profound impact on businesses large and small. Fortunately for this company, cybersecurity is one of the few industry sectors that has shown accelerated growth during these turbulent times, as conversations around the importance of data protection remain at the forefront for individuals and organisations alike. Cyberheaven recently completed its first year of operations having kicked off product development in Q1 2020, so let’s take a look at the progress the company made until now and how they managed it to achieve it.

Financial Planning and Funding

The majority of startups require external funding to launch and scale their business – especially where hardware is concerned. It’s always wise to plan finances conservatively; with new research finding that 92% of startups fail (20% within the first year and often due to insufficient funds), raising enough capital to fund operations and growth is vital. Having first closed their round with Venture Capital fund Arkley Brinc in November 2019 when the company was first established, CyberHeaven raised a further 1 000 000 zł from a new investor – a Bridge Alfa fund – in January 2021. During this time period, the company more than doubled in value thanks to CyberHeaven exceeding even their own expectations when year one revenues were ten times higher than planned. The company is using the new funds to develop a secure remote communications solution, with the mission of becoming the next-level video conferencing platform.

Launch of CyberVault

CyberHeaven is building an ecosystem of data privacy tools to ensure the maximum level of encryption for individuals, businesses and organisations. In the last year they finalised the first iteration of CyberVault – a portable USB device that gives customers unrestricted access to their encrypted data, even when offline. This small piece of hardware provides a double layer of data security, as the user requires their workstation and the hardware device together in order to gain access. Following successful pilot tests in Spring 2020, the product launched in the summer with over 500 units ordered. The team achieved this due to fast adoption of digital tools for working remotely, and partnering with local distributors that offered the first batch of devices to their Clients.

Strategic Partnerships & Distributors

CyberHeaven secured strategic partnerships with a number of distributors to execute their ‘go to market’ strategy, tapping into existing networks of potential customers. One of the key CyberHeaven partners is Usecrypt, with whom the CyberVault product has been integrated to offer in conjunction with Usecrypt’s data encryption tools. CyberHeaven is also in talks with industry sectors that process sensitive customer data, such as digital healthcare providers, enterprise software companies and government organisations. They have expanded to global markets beyond Poland, such as the USA and Eastern Europe.

New Product Development

With CyberVault only solving one piece of the encryption puzzle, CyberHeaven have already begun development of their next product: the secure video conferencing platform. Remote communications have exploded during the pandemic, yet existing tools on the market have failed to fully address data privacy and information security concerns. It is predicted that this market will continue to grow even after the pandemic is over, so this tool will be the core focus of the company’s product development in 2021. Identifying market segments that show steady growth has been key to this startup’s survival, helping CyberHeaven remain ‘pandemic-proof’.

Cezary Mleczek-Poloczanski
Partner of Promotion

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