New Delhi: CYFIRMA, a leading external threat landscape management company, has recently raised $5.5 million in a Pre-Series B round funding from OurCrowd, Israel’s most active venture fund, and L&T Innovation Fund, a multinational conglomerate based in India. This latest funding round brings CYFIRMA’s total funding to nearly $18 million, with existing investors including Goldman Sachs, Zodius Capital, and Z3 Partners.
The funds raised will be utilized for product innovation, expansion into new global markets in North America, Europe, and the MENA region, as well as growth in existing markets in Southeast Asia, including India, Singapore, and Japan. In addition, the funds will be used for hiring across verticals and brand building.
Kumar Ritesh, Founder and CEO of CYFIRMA, expressed his excitement about the new partnership, saying that Adding OurCrowd and L&T Innovation Fund to our capital table is exactly what we need to take our company to the next level.” Ritesh also recognized the crucial role that Israel plays in the cybersecurity market, as well as OurCrowd’s 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 them to continue advancing their platforms.
L&T Innovation Fund, on the other hand, represents one of the most forward-thinking technology and infrastructure companies. The company has deep expertise in engineering, industrial, construction, and IT industries and is known for delivering innovative products and solutions that include platforms for AI, 5G, and smart buildings, among others. Ritesh believes that L&T Innovation Fund brings strategic value to CYFIRMA and will accelerate their business growth through its market and segment reach, as well as its domain expertise.
CYFIRMA specializes in providing real-time, predictive, and personalized cyber threat visibility and intelligence to its clients. Their threat intelligence platform is powered by machine learning and predictive analytics, which enables them to identify potential threats before they become active. Their platform also provides clients with actionable intelligence and insights, enabling them to take timely action to mitigate the risks of cyber threats.
In conclusion, the latest funding round is a significant milestone for CYFIRMA, as it enables them to accelerate their growth and expand their reach into new global markets. With the expertise of their new partners, they are well-positioned to continue leading the way in the external threat landscape management and providing their clients with the intelligence and insights they need to stay ahead of potential cyber threats.