Pires Investments hails Getvisibility offering amid pandemic
London-listed has highlighted the importance of its AI security portfolio company given the recent increase in cybercrime associated with the Covid-19 crisis.
Irish-based Getvisibility offers protection via its AI software platform to corporations who are facing the increasing problem of managing data.
Pires agreed to invest €250,000 in Visibility Blockchain Limited, which trades under the name ‘Getvisibility’ on 10 March as part of a wider €1.25 million fundraise by the private security firm.
Pires holds its interest in Getvisibility through its £1.1m investment into entrepreneur-led VC fund Sure Valley Ventures (“SVV”), in which it holds 13% interest.
The UK National Fraud & Cyber Security Centre recently reported that Covid-19-related fraud reports have increased by 400% as of March 2020.
Shares in Pires Investments closed at 2.25p on Monday afternoon.
The government-led organisation said it took down more than 2,000 online coronavirus scams last month, including 471 fake online shops selling fraudulent virus-related items, the BBC reported today.
It noted a growing concern that criminals were hoping to capitalise on the increased usage of the internet during the pandemic.
“Criminals are seeking to exploit our greater use of emails, video conferencing and other technologies for their advantage," said Minister for Security James Brokenshire.
Getvisibility has launched an AI software platform that delivers visibility over data such as word documents, pdfs and emails, for enterprises, by automatically scanning and classifying data.
The group said it will today kick-start a series of live webinars on its website to expand upon its updated product offering.
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