CYFIRMA, the predictive cyber-threat visibility and intelligence analytics platform which announced separation from Antuit Group months ago, is back in news for raising fresh capital. The company has landed a new Series A round from Z3Partners, an early- growth Private Equity Fund. And while the amount hasn’t been officially disclosed, numbers tell us it is around the $3 Million mark. With this round, CYFIRMA has now raised a total of $8 million in external capital. The cybersecurity company counts the likes of Goldman Sachs and Zodius Capital as investors. Goldman Sachs had led the company’s $5 Million round prior to this.
These are interesting times to be in the cybersecurity business. Cybersecurity threat protection, specially within enterprises, has emerged as a core need in the past half a decade or so. Cyberattacks have been on a rise in varied forms, and enterprises have been often found unguarded in most cases. Companies as big as Microsoft have been found unguarded in massive cyber breaches. According to Gartner, the global information security market is forecast to grow at a five-year CAGR of 8.7% to reach $188.8 billion in 2023. This is exactly what CYFIRMA aims at capturing.
This massive projected cybersecurity spending will be driven by regulations and increased awareness as organizations’ needs evolve to address more complex threats.
CYFIRMA offers a cloud-based AI and ML-powered Cyber Intelligence Analytics Platform that helps organizations proactively identify potential threats at the planning stage of cyberattacks, offers deep insights into their cyber landscape, and increase preparedness by keeping the organization’s cybersecurity posture up-to-date, resilient, and ready against upcoming attacks.
CYFIRMA says that its threat intelligence platform is already in use by Fortune Top 500 companies. With fresh capital inbound, the company will further capitalize on its position as a leader in the
cyber visibility and threat intelligence category in Japan to expand into markets across Asia including India and the US.
Talking about the fresh raise, Ritesh Kumar, founder and CEO at CYFIRMA says, “Our unique way of looking at cyber threat analytics, gathering intelligence across deep and dark web as well as surface web to unravel motivations of threat actors and stop cyber-attack at its track has been a winning formula for many of our clients,”
The company has offices and teams located in Singapore, Japan and India.