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Cybersecurity firm raises Series A investment from Z3 partners

Goldman-backed cyber security startup firm Cyfirma has raised an undisclosed amount under Series A investment from an early growth private equity fund Z3 Partners.

Published: 17th February 2020 08:24 AM  |   Last Updated: 17th February 2020 08:24 AM   |  A+A-

By Express News Service

Goldman-backed cyber security startup firm Cyfirma has raised an undisclosed amount under Series A investment from an early growth private equity fund Z3 Partners. With this investment, Z3Partners joins Goldman Sachs and Zodius Capital as a shareholder of Cyfirma. The Company has raised $8 million till date including the current round. With this investment, Z3Partners joins Goldman Sachs and Zodius Capital as a shareholder of Cyfirma. The Company has raised $8 million till date including the current round, the company said.

The Singapore-based company said that it will use the fresh funding to further capitalize on its position in the cyber visibility and threat intelligence category in Japan to expand into markets across Asia, including India, and the US. The funds will also be used to support the development roadmap of Cyfirma’s cyber-intelligence analytics platform.

According to Gartner Inc., the global information security market is expected to grow at a five-year CAGR of 8.7 per cent to reach $188.8 billion by 2023. This new spending will be driven by regulations and increased awareness as organizations’ need to evolve to address more complex threats. Cyfirma’s threat intelligence platform is already used 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 venture into markets across Asia including India and the US,” said Kumar Ritesh, Cyfirma founder, CEO.

The firm was said to have raised $5 million from Goldman Sachs and Zodius Capital in October last year. Z3Partners has invested in the India technology and digital market for over 20 years. “The platform is a powerful solution to bring threat intelligence conversations into boardrooms and we look forward to collaborating with them as they work to build a great company,” said Gautam Patel, Managing Partner, Z3Partners.


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