CYFIRMA Raises $5.5 Million In Pre-Series B Funding The funds raised will be used for product innovation and entering new global markets, hiring across verticals and in brand building
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
CYFIRMA, a leading external threat landscape management company, has raised $5.5 million in a pre-Series B funding round from Israel's most active venture fund OurCrowd and India's multinational conglomerate Larsen & Toubro's L&T Innovation Fund. With this, these firms join CYFIRMA's existing investors Goldman Sachs, Zodius Capital, and Z3 Partners. With the closing of this round, CYFIRMA has raised nearly $18 million to date. The funds raised will be used for product innovation and entering new global markets in North America, Europe and MENA region in addition to growing the existing markets in SEA, including India, Singapore and Japan. The funds will also be utilized for hiring across verticals and in brand building.
"Adding OurCrowd and L&T Innovation Fund to our capital table is exactly what we need to take our company to the next level. We recognize the critical role that Israel plays in the cybersecurity market in delivering groundbreaking technology and OurCrowd has been at the forefront of cybersecurity innovation, with a rich history of making markets and helping create some of the most successful startups in the industry. By partnering with them, CYFIRMA will benefit from an unparalleled wealth of knowledge and experience, allowing us to continue advancing our platforms," said Kumar Ritesh, founder and CEO, CYFIRMA.
To help customers navigate the increasingly complex threat landscape, CYFIRMA has redefined threat intelligence beyond static data feeds to encompass predictive, contextualized, and actionable insights that enable organizations to gain full visibility of their digital assets, attack surface, and vulnerabilities. Company has built a platform that analyzes threat indicators from multiple sources, including dark net to give actionable insights on imminent attacks, enterprises use the intelligence to mitigate risks across both technology and non-technology domains and stay one step ahead of cyber criminals, according to an official statement by the company.
"At L&T, we harness technology to address pressing challenges facing various industries in their digital transformation journey and we recognize the critical role cybersecurity plays in this. CYFIRMA has a proven record of helping businesses mitigate potentially crippling attacks so that digital innovation can flourish. It is an excellent example of the type of company our fund was built to support. We are now here to accelerate CYFIRMA's global reach and bring their platform to businesses around the world," said R Shankar Raman, CFO and whole-time director, L&T.
"We believe in investing in solutions that solve difficult problems, and CYFIRMA has demonstrated an unwavering commitment to this mission. We firmly believe that the team at CYFIRMA has the talent and vision to revolutionize the cybersecurity landscape, and we are eager to provide our support, resources, and funding to help them reach their goals," said Eli Nir, senior investment partner, OurCrowd.
