Ceeyu Raises One Million from Michel Akkermans and Walter Van Uytven
The Belgian cybersecurity company Ceeyu has secured an investment of 1 million euros from Pamica – that is the investment firm of Michel Akkermans – and Walter Van Uytven (ex-Awingu).
Ceeyu offers a platform that helps companies identify, assess, and mitigate risks in their supply chains with a particular focus on cybersecurity. Its fully Belgian-developed 'Supply Chain Risk Platform' automates processes that were previously manual and time-consuming, enabling businesses to more efficiently comply with new European regulations such as NIS2 and DORA.
Tech investors Michel Akkermans and Walter Van Uytven have jointly injected 1 million euros into Ceeyu and immediately cleaned up the 'cap table': in other words, the shareholder structure. "The old structures and obligations were too complex, so we've cleaned them up to make the current investment structure clear and simple," says Michel Akkermans in an interview with Data News.
On Board: European Growth Sought
In addition to investors, both gentlemen will also serve as advisors at the company: Walter Van Uytven will take on the role of executive chairman of Ceeyu; Michel Akkermans – who is also a major shareholder in the cybersecurity firm Approach – will become a director. Together, they are not short of experience. In 2022, both were part of the successful exit of the technology company Awingu. Walter Van Uytven was then CEO of Awingu and Michel Akkermans the investor and chairman. They will now support Ceeyu in scaling up the business within Belgium but also beyond its borders.
"With this investment, we are ready to offer our SaaS solution across all of Europe in a professional manner," explains Jimmy Pommerenke, CEO and founder of Ceeyu. The focus is on attracting new customers through direct sales and setting up a partner network in the longer term. The capital will also be used for marketing, further product development, and hiring new talent. Currently, Ceeyu employs a handful of staff.
Regulation as Fuel
"Ceeyu finds itself at the crucial inflection point between startup and scale-up," emphasizes Michel Akkermans on the potential of Ceeyu. "With their SaaS model and our combined experience, we are very optimistic about future possibilities," adds Walter Van Uytven. The gentlemen speak of a growing market, a unique product, and a strong team that positions Ceeyu well to become a significant player in the European cybersecurity market.
The fuel for that growth engine? Regulation! Ceeyu focuses on companies dealing with regulations such as NIS2 and DORA. From October, businesses providing critical infrastructure must comply with NIS2, while financial institutions will fall under DORA from January 2025. "These regulations require companies to identify and manage risks in their suppliers, which increases the demand for solutions like ours," says Pommerenke: "In the coming two years, it will become a legal requirement for more than 200,000 businesses across all of Europe."
Since its founding in 2020, according to Ceeyu's own words, the company has built a strong position in Belgium with clients such as De Watergroep, La Lorraine Bakery Group, Casa, and Ordina. In addition to the Benelux region, Ceeyu also serves clients in the United Kingdom.