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Cyberoo

Italian MDR and cyber-risk management provider listed on Euronext Growth Milan, offering its Cypeer MDR platform and threat intelligence to mid-market firms.

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57/100Incremental Innovator

Overview

Cyberoo S.p.A. is a cybersecurity company headquartered in Reggio Emilia, Italy. Its history goes back to AT Store, a device seller started in 2008, and it took the Cyberoo name in 2019. It listed on AIM Italia (now Euronext Growth Milan) on 7 October 2019. Its core Cyber Security Suite combines Cypeer, a managed detection and response platform, with CSI threat intelligence. These are complemented by advisory (incident response, VA/PT, vCISO), the Keatrix AI-based security awareness platform, and the ORBIS cyber-risk governance model. The company runs a 24/7 Level II i-SOC in Poland, has an R&D and talent hub in Ukraine, and states it has more than 150 employees.

For the 15-month fiscal year ended 31 March 2026, Cyberoo reported revenue from sales and services of €27.71 million, of which €22.35 million came from Cyber Security & Device Security. EBITDA was €8.56 million (27.4% margin, down from 38.9%) as the company invested in R&D, AI and international distribution in Italy, Poland and Spain. Total liquidity was €17.73 million. It activated more than 200 vCISO contracts tied to NIS2 compliance and reduced receivables from related party Sedoc Digital Group to €2.56 million.

Cyberoo says Gartner named it a Representative Vendor in the Market Guide for Managed Detection and Response Services in 2021, 2023 and 2024. It positions itself as a European, sovereignty-focused MDR vendor for the mid-market.

Innovation Matrix Assessment

Innovation Velocity 6/10

Ongoing investment in proprietary platforms (Cypeer, Keatrix AI training, ORBIS), with €3.03M of capitalised internal development in FY2025/26 and new NIS2-focused platform announcements planned.

Operational Value 6/10

Bundles 24/7 MDR, threat intelligence, vCISO/NIS2 advisory and awareness training in one offering for mid-market firms without in-house SOCs.

Market Momentum 6/10

Revenue grew to €27.71M (non-comparable 15-month period vs €22.84M) and cyber revenue rose 24.4%, with expansion into Poland and Spain; however, EBITDA margin fell and the company remains small.

Category Disruption 4/10

A proprietary MDR platform plus a European-sovereignty pitch sets it apart locally, but the model is a fairly standard MDR/MSSP offering.

Real-World Efficacy 5/10

Repeated Gartner MDR Market Guide representative-vendor listings and ISO 27001 provide some external validation; no independent detection tests or public customer outcome data were found.

Enduring Relevance 7/10

NIS2 obligations and European demand for digital sovereignty create lasting demand for mid-market MDR and governance services.

Why CISOs Should Care

Mid-sized European organisations facing NIS2 can get MDR, threat intelligence and vCISO governance from a single, publicly listed EU-based provider.

What Makes It Different

Runs its own Cypeer MDR platform rather than reselling a third-party stack, combined with compliance consulting and AI-driven human-risk training under the ORBIS model.

The Matrix Verdict

57/100 — INCREMENTAL INNOVATOR

Scores 34/60 (57/100), placing it in the Incremental Innovator tier. It is a solid, growing European mid-market MDR provider with some analyst recognition, but its approach is evolutionary and profitability has recently declined.

Editorial Note: Claims vs. Verified Findings

Financial figures come from audited-period board press releases under Euronext Growth Milan disclosure rules; the Gartner Market Guide recognitions are reported by Cyberoo itself (Market Guides are not rankings), and claims of outperforming the market are vendor statements.

Sources