Cleo Capital, an early-stage venture firm, has announced a cybersecurity accelerator program aimed at addressing the growing epidemic of online threats, as first announced by TechCrunch.
The 12-week remote initiative seeks to support pre-seed and seed-stage companies worldwide, offering $250,000 in funding for a 7% equity stake.
Applications are open until January 20, with the program starting on February 24.
Tackling Cybercrime with Innovation
Sarah Kunst, founder and managing partner of Cleo Capital, was inspired to create the program after witnessing the rising tide of fraud in industries like crypto, fintech, and even dating apps.
Kunst highlighted personal stories from her family as a stark reminder of how pervasive and damaging cyber threats have become.
The stakes are high—Americans lost over $12.5 billion to cybercrime in 2023, more than double the total for 2020 and 2021 combined.
As AI tools become more advanced, the potential for exploitation grows.
“We deserve an internet with trust and security,” Kunst told TechCrunch.
A Call for Fresh Ideas
The accelerator seeks startups focusing on consumer protection, defense, and infrastructure tools.
Kunst is particularly interested in solutions that address identity authentication, alert users to scams, and protect against state-sponsored cyberattacks.
However, she urges applicants to balance innovation with user privacy.
Kunst sees Cleo Capital’s initiative as a way to empower smaller companies in a field often dominated by enterprise players.
“Cybersecurity isn’t just an enterprise issue,” Kunst stated. “It impacts all of us in our daily lives.”
Feature Image Credit: Steve Jennings/Getty Images for TechCrunch
