xorlab, a Zurich-based email security company, raised €5m (about $5.8m) in a Series A+ round, it announced on 1 September 2026. The round was led by existing investor Spicehaus Partners, with continued participation from Grapha Holding, EquityPitcher Ventures and ZKB Start-up Finance.
The company said the money would pay for expansion across Europe, starting with the DACH region, Benelux and the Nordic countries. It did not disclose a valuation.
xorlab said 2025 had been its strongest year so far and that inbound demand from European companies had doubled again in 2026. It linked that demand to concern among European organisations about relying on US-controlled infrastructure and security providers.
“xorlab has built something rare: differentiated technology solving a mission-critical problem, validated by some of Europe's most demanding enterprise customers.”Daniel Andres, Founding Partner, Spicehaus Partners
What xorlab does
xorlab sells an email security platform that uses behavioural AI to stop phishing and business email compromise (BEC). The company says these attacks are increasingly written with the help of AI, carry no malware, match no known signature and often get past Microsoft 365 and traditional filters.
Its software learns what normal communication looks like for each customer and flags messages that do not fit, such as an unusual sender, an out-of-pattern request or a first-time payment request. The platform also automates the handling of abuse mailboxes and gives security operations teams visibility into email flows.
Customers can run xorlab fully on-premises, in a hybrid setup or in the cloud, where the company says processing takes place in European data centres and operations are run by staff based in Europe. xorlab says the platform supports compliance with DORA, NIS2 and GDPR.
Customers and market
xorlab says it is used by six of the ten largest Swiss banks and by organisations with between 500 and more than 37,000 employees. Named customers include Julius Bär, Swisscom, Vontobel, G+D Netcetera and CERN. It serves financial institutions, healthcare organisations, critical-infrastructure operators, telecoms providers and public-sector bodies.
European regulations such as DORA and NIS2 make financial institutions and critical-infrastructure operators accountable for the resilience of their digital supply chains, which the company presents as a further driver of demand.
"Europe needs its own cybersecurity champions. Not European copies of US incumbents, but companies capable of defining the next generation of enterprise security," said Antonio Barresi, chief executive and co-founder of xorlab.
The funding so far
xorlab was founded in 2015 by Antonio Barresi and Matthias Ganz, both computer science graduates of ETH Zurich, according to StartupRise.
Spicehaus Partners, a Swiss venture firm that backs early-stage B2B technology companies with initial revenues, has backed xorlab since at least 2020. According to the tech.eu funding database, xorlab raised a €1.1m seed round in July 2020 and a €6.1m Series A in October 2021, with Spicehaus among the investors in both.
Daniel Andres, founding partner at Spicehaus Partners, said the firm had very high conviction that AI-driven threats, regulatory pressure and Europe's push for digital sovereignty were creating an opportunity in cybersecurity, and that it was "doubling down" on xorlab.
Company website: xorlab.com