The new funds will accelerate the development of cybersecurity analytics platform by CYFIRMA to address the need for advanced threat intelligence and predictive capabilities that will help businesses strengthen their risk and security posture
Predictive cyber-threat visibility, and intelligence analytics platform, CYFIRMA today announced that they have raised Series A round of funding from Z3Partners, an early growth Private Equity Fund that is known to find nascent technology trends and support entrepreneurs in their journey towards market leadership. Z3Partners joins Goldman Sachs and Zodius Capital as a shareholder of CYFIRMA, with this investment. Till now, the Company has raised $8 million including the current round martech news.
This new investment round comes just four months after the separation of CYFIRMA from Antuit Group in October 2019. This recent round of funding reaffirms CYFIRMA’s business model and strengthens its position as a fast-rising threat intelligence and cybersecurity player.
As per Gartner Inc., the worldwide information security market is forecast to grow at a five-year CAGR of 8.7% to reach $188.8 billion in 20231. This new spending will be driven by regulations and enhanced awareness as the needs of organizations evolve to address more complex threats. CYFIRMA’s threat intelligence platform is already in use by Fortune Top 500 companies. With the new funding, CYFIRMA 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.
The funds will be used to support the growth roadmap of a cyber-intelligence analytics platform of CYFIRMA, adding functionalities that will increase its predictive abilities as well as building adjacent features that will complete the cybersecurity ecosystem martech.
Ritesh Kumar, Founder and CEO of CYFIRMA said that CYFIRMA has been disrupting the cybersecurity landscape since its inception born out of the urgent requirements to help business leaders decipher relevant and critical threats in a sea of noise so that decisive actions can be taken to prevent massive damage of financial and brand. Their unique way of looking at cyber threat analytics, gathering intelligence across the 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 their clients. He is glad Z3Partners share in their vision. Having Z3Partners as financial support will accelerate their product engineering efforts, and bring their innovative threat intelligence platform to new markets rapidly.
Gautam Patel, Managing Partner, Z3Partners said that they are excited to partner with Kumar Ritesh and their team to develop CYFIRMA into a dominant cyber threat analytics global player. The offering of CYFIRMA is well-timed with the rapidly enhancing demand for quality threat intelligence to guide digital transformation and drive results of the business. The platform is a powerful solution to bring threat intelligence conversations into boardrooms over all industries and they look forward to collaborating with and supporting them as they work to develop a great organization in an exciting category.https://www.cyfirma.com.