Goldman Sachs-backed cybersecurity firm Cyfirma raises series A funding
Cyfirma, a predictive cyber threat visibility and intelligence analytics platform, announced that it has secured series A funding from early-growth private equity fund Z3Partners. The company declined to disclose the exact size of the investment, but said that its total funding is now US$8 million in the span of five months.
n
The latest investment comes after Cyfirma raised US$5 million from Goldman Sachs and Zodius Capital in October last year.
nn
Kumar Ritesh, chairman and CEO at Cyfirma / Photo credit: Cyfirma
nn
n n n n
Citing data from Gartner, Cyfirma said in a statement that the global information security market is expected to grow at a five-year compound annual growth rate of 8.7% to reach US$188.8 billion in 2023. This will be driven by regulations and increased awareness as organizations evolve to address more complex threats.
n
The company will then use the new funds to strengthen its position in the cyber visibility and threat intelligence segment in Japan and then expand into Asia and the US. It will also further invest in its cyber intelligence analytics platform to add functionalities and build adjacent features.
n
Cyfirma was incubated by Antuit Group in 2017 before it became a separate entity last year. Its cloud-based platform uses AI and machine learning to help organizations identify potential threats, offer deep insights into their cyber landscape, and amplify preparedness against upcoming attacks.
n
The company is headquartered in Singapore and Tokyo, with an office and team in India.