Campfire Security ApS Due Diligence

Run due diligence on Campfire Security ApS: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Independent (Denmark) · campfiresecurity.dk · 11 vendors

Campfire Security ApS is a Danish cybersecurity training company that provides hands-on, gamified cyber security education for IT professionals and organisations through its Bonfire platform. The company grew out of research at Aalborg University and offers virtual labs covering real-world threats across 12 security competency areas. It is trusted by 40+ Danish companies and public institutions, with offices in Aarhus and Copenhagen.

Resilience scores

Technology vendors

Insights

Last updated 2026-11-01 · revision 13

11 direct vendors, 193 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

8 in-scope frameworks identified; showing 3.

CRA — Evidence found

The Cyber Resilience Act applies to manufacturers of products with digital elements sold in the EU. As a provider of a cybersecurity training platform, Campfire Security ApS's software falls under this regulation's scope.

Evidence: https://campfiresecurity.dk/campfire-essentials, https://www.swissbit.com/en/news/blog/cybersecurity-eu-regulations-that-companies-should-know-now, https://www.reddit.com/r/cybersecurity/comments/1f77p2z/the_eu_cyber_resilience_act_requirements_for/, https://campfiresecurity.dk/, https://campfiresecurity.dk/about, https://ncc-dk.dk/ydelser/tilskudspuljer/stoettede-projekter/

SOC 2 (source) — No public evidence

A SOC 2 report is a common assurance framework in the technology and cybersecurity industry, particularly for service organizations, to demonstrate the security, availability, processing integrity, confidentiality, and privacy of their systems.

DORA (source) — Evidence found

While DORA directly regulates financial entities, it also imposes requirements on their critical ICT third-party service providers. Campfire Security ApS could be a supplier to financial services firms, bringing it into the scope of DORA's requirements.

Evidence: https://campfiresecurity.dk/campfire-essentials, https://digitaldogme.dk/en/ug/partner/campfire-security/?lang=en-US, https://idaforsikring.dk/en/about-ida-forsikring/collaboration-with-campfire-security, https://www.suse.com/blog/what-is-the-impact-of-the-digital-operational-resilience-act-dora-on-my-it-suse-observability/, https://finamp.io/glossary/dora.html, https://prowler.com/blog/audit-your-cloud-against-dora-with-prowler

Financials

Three-year financials

Financial Resilience Score: 6/10

Campfire Security ApS is an early-stage Danish cybersecurity spin-out from Aalborg University, incorporated in September 2023. The company shows a mixed financial resilience profile. On the positive side, equity grew approximately 9x from DKK 231K to DKK 2.10M in FY2025 despite posting a net loss of DKK 1.93M, indicating successful capital raising activities. Liquidity is very strong at 562.6% (up from 306.6% in 2024), and solvency improved to 36.1% from 24.8%. The company secured a DKK 3.8M debt facility from the Export and Investment Fund of Denmark (EIFO) in September 2025, plus a DKK 760K Innofounder grant from Innovation Fund Denmark, providing meaningful runway. However, the company is in an investment/burn phase: it swung from a modest profit of DKK 191K in FY2024 to a loss of DKK 1.93M in FY2025 as it tripled headcount (2 to 7 average, 21 current) and opened two additional offices. Return on assets fell from +20.5% to -33.3%. Revenue is undisclosed (permitted under Danish rules for small ApS entities), making true scale difficult to assess, and gross profit of DKK 2.77M suggests limited revenue scale. The business is single-market (Denmark only), single-product (Haaukins/Campfire platform), and dependent on continued customer growth and additional funding to reach profitability. The small share capital of ~DKK 48K offers limited loss-absorption buffer absent further investment.

Key strengths: Equity strengthened ~9x from DKK 231K to DKK 2.10M in FY2025, indicating successful capital raising, Very strong liquidity ratio of 562.6% (up from 306.6%), Solvency ratio improved to 36.1% from 24.8%, DKK 3.8M debt facility secured from EIFO in September 2025, DKK 760K Innofounder grant from Innovation Fund Denmark, Gross profit grew 55% from DKK 1.79M to DKK 2.77M, Strong customer traction with 40+ Danish companies and public-sector clients, IP licensed from Aalborg University providing differentiated technology

Risk factors: Swung from DKK +191K profit to DKK -1.93M loss in FY2025, Negative return on assets of -33.3% (down from +20.5%), Revenue not disclosed, limiting transparency on scale, Geographic concentration: ~100% Denmark, no international revenue, Single-product dependency on Haaukins/Campfire platform, Small share capital of only ~DKK 48K provides limited loss-absorption buffer, Early-stage company with only two fiscal years of history, Continued cash burn requires further funding to reach profitability

Revenue by geography

Workforce by country

Signed-in users can see whether their own company is exposed to this vendor's disruption, plus the full sub-vendor list and country breakdowns, every in-scope compliance framework plus gaps and next steps, and alerts when any of it changes.

View the full interactive report