New Investment Opportunity: Cyfirma
Decoding the external cyberthreat landscape with predictive intelligence
- Comprehensive external cyber threat intelligence platform for business intelligence/management sector, upending current players; Singapore-based cybersecurity startup
- Customers include 39 of Top 40 Japanese enterprises: Mitsubishi, NEC, Singtel, Toshiba and more, now expanding to US from Asia; partnerships with AWS, MBSD, NTT Data, TIS
- 100% YOY ARR growth for 3 consecutive years; 5% quarterly ARR growth from $8.6M in Q4 FY 2022 to $9.23M in Q1 FY 2023, projecting ~$11M in Q2 FY 2023 based on robust pipeline, expansion into new territories; 105% net dollar retention
- Up to $3M allocation in an expected up to $20M Series D-1; existing investors include Goldman Sachs, Z3Partners and Zodius Capital
BOOK A CALL
with your Investor Relations representative
Dear Josb,
Cyberattacks are growing in frequency and sophistication, yet most businesses are flying blind with little insight on when or how they may be targeted and where they are vulnerable.
OurCrowd is investing in Cyfirma, a rapidly growing Singapore-based company that has developed a comprehensive platform and actionable dashboard giving companies awareness of when and how they may be targeted by cybercriminals, and where they may be vulnerable. The details in this email are based on information received from, and verified solely by, the company.
The Problem
Cyberattacks continue to grow in number and in sophistication. The threat landscape is continuously evolving with many different kinds of attacks launched by a diverse set of hostile actors including organized crime, corporate spies, and nation states. Early detection of cyberthreats and contextual intelligence around vulnerabilities is essential, yet this kind of cyber-intelligence and external threat visibility is hard to come by.
The Solution
DeCYFIR gives security leaders a unified view into six threat pillars – attack surface discovery, vulnerability intelligence, brand intelligence, digital risk discovery, situational awareness, and cyber-intelligence. Based on analysis of threat indicators collected from the deep web, dark web, hacker forums and other closed communities, as well as Cyfirma's own research, attacks can be predicted using probability prediction models and analytics engines. By providing threat intelligence from the outside, Cyfirma can share early warning information when signs of cyber-attacks are detected, enabling cyber teams to take rapid action to thwart attempts at intellectual property theft, ransomware attacks, and other malicious activities.
Traction
Cyfirma displays impressive traction, with 100% YOY ARR growth for 3 years in a row. The company enjoyed 5% quarterly ARR growth from $8.6M in Q4 FY 2022 to $9.23M in Q1 FY 2023. The company projects ~$11M ARR by the end of Q2 FY 2023 based on a robust pipeline and expansion into new territories. The company enjoys 105% net dollar retention for existing customers.
Cyfirma has been very successful in penetrating the Japanese market, with 39 of the top 40 Japanese enterprises signed up as customers, including Mitsubishi, NEC, Singtel and Toshiba. After launching in Asia, the company is now expanding to the US. Cyfirma has partnerships with AWS, MBSD, NTT Data, and TIS.
The Round
OurCrowd has an up to $3M allocation in this expected up to $20M Series D-1 round. Existing investors include Goldman Sachs, Z3Partners and Zodius Capital. Funds from this round will primarily go to expanding sales and marketing and supporting R&D.
Meet the CEO
We're hosting a webinar/conference call on Thursday, July 28th, at 7PM Israel / 12 Noon New York / 9AM San Francisco for investors to meet CEO Kumar Ritesh and learn more about Cyfirma.
Can't make the webinar? Register and we will send you a recording of the call.
The Cyfirma Solution
Cyfirma's flagship product, DeCYFIR, is a comprehensive external cyberthreat landscape management platform that provides six pillars of threat views on a single pane of glass. The six pillars are:
- Attack surface discovery. Proactively uncovers potential attack vectors across on-premise, cloud, hybrid, shadow and third-party resources
- Vulnerability intelligence
- Brand intelligence
- Digital risk discovery and protection
- Situational awareness
- Cyber-intelligence
The company also offers DeTCT, a digital risk discovery and protection platform, and DeFNCE, an app for monitoring mobile devices.
Next steps:
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