Cyfirma Raises $5.5 M In Pre-Series B From L&T, Israel-based OurCrowd
With the closing of this round, CYFIRMA has raised nearly USD 18 million to date. The funds raised will be used for product innovation and entering new global markets in North America, Europe and MENA region
CYFIRMA, a leading external threat landscape management company has raised $5.5mn in a Pre-Series B round funding from Israel’s most active venture fund OurCrowd and India’s multinational conglomerate Larsen & Toubro’s L&T Innovation Fund. With this, these firms join CYFIRMA’s existing investors Goldman Sachs, Zodius Capital, and Z3 Partners. With the closing of this round, CYFIRMA has raised nearly USD18M to date.
The funds raised will be used for product innovation and entering new global markets in North America, Europe and MENA region in addition to growing the existing markets in SEA, including India, Singapore and Japan. The funds will also be utilized for hiring across verticals and in brand building.
Kumar Ritesh, Founder and CEO, CYFIRMA says, “Adding OurCrowd and L&T Innovation Fund to our capital table is exactly what we need to take our company to the next level. We recognize the critical role that Israel plays in the cybersecurity market in delivering groundbreaking technology and OurCrowd has been at the forefront of cybersecurity innovation, with a rich 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 us to continue advancing our platforms.”
“Larsen & Toubro represents one of the most forward-thinking technology and infrastructure companies. It holds deep expertise in engineering, industrial, construction and IT industries, and is known for delivering innovative products and solutions that include platforms for AI, 5G, smart buildings, and much more. L&T brings strategic value to CYFIRMA and will accelerate our business growth through its market and segment reach as well as domain expertise,” he added.