Prosus N : Cybersecurity startup watchTowr secures US$10.25m in pre-Series A investment

Prosus N : Cybersecurity startup watchTowr secures US$10.25m in pre-Series A investment



WatchTowr cybersecurity startup secures $ 10.25 million in pre-Series A investment

  • WatchTowr’s next-generation surface attack management (ASM) solution is in high demand by large multinational companies BFSI.

July 5, 2022 – SINGAPORE – watchtowera cybersecurity startup based in Singapore,has raised $ 8 million in a pre-series A investment round that was co-led by Prosus Ventures and Vulcan Capital with the repeated participation of Wavemaker Partners. Total watchTower funding now reaches US $ 10.25 million, factoring enthe initial round of US $ 2.25 million which was secured in November 2021 from Vulcan Capital and Wavemaker Partners.

watchTowr will use the additional funds to continue to improve the technology that underpins its patented platform and to take advantage of the growth opportunities that arise from markets outside of Southeast Asia.

Sachin Bhanot, head of SE Asia Investments, Prosus Ventures, stated: “We are excited to support Benjamin and his team as they tackle increasingly complex cybersecurity challenges with impressive technical skills, innovation and agility. This investment it allows us to expand our portfolio in the field of cybersecurity and data privacy. Our entry into an initial phase reflects our conviction on the platform. “

This pre-series A round underscores investor confidence in watchTowr. In operation since late 2021, watchTowr has experienced great interest in the watchTowr platform of some of the major banks, financial services, insurance companies (BFSI), as well as e-commerce and technology brands.

Vulcan Capital CEO and Southeast Asian CEO Tommy Teo remarked that “watchTowr has enormous potential and in a very short period of time has shown promising traction and an ability to grow. Our continued support is a strong vote of confidence in Ben and the WatchTowr team, and will go on to attract more talent and expand its reach in the region. “

Empower companies to get ahead of attackers

Benjamin Harris, CEO of watchTowr, said: “Our technology gives organizations visibility into how committed they can be in real time. Traditional warranty approaches, such as penetration testing, are no longer effective or fast enough. to keep organizations safe.By continuously incorporating the latest attacker tactics and techniques into the watchTowr platform, CISOs can understand their susceptibility arisevulnerabilities and threats in hours, rather than weeks or months. “

Over the past 10 years, organizational attack surfaces have increased to include outsourced technology, shadow IT, cloud environments, and supply chain risks, to the point that most organizations have simply lost track. of its attack surface. Harris says, “When the balloon attack surface is combined with the ineffective and incomplete security testing approaches that are still used today, organizations are not able to adequately protect themselves, especially if we consider the “Fast and aggressive speed of change in cybersecurity. Attackers know this.”

Since November 2021, watchTowr has demonstrated its technology, identifying critical and high-impact weaknesses in scale organizations, before attackers could exploit them. watchTowr has shown that a quick reaction to emerging vulnerabilities in a matter of hours — through large attack surfaces — is possible, allowing organizations to get ahead of attackers and prevent violations. When vulnerabilities like the famous Log4Shell go from discovery to Internet attacks in a matter of hours, empowering organizations to defend themselves against this indiscriminate exploitation is incredibly powerful.

To power and support this capability, watchTowr technology creates a real-time view of what an organization’s attack surface looks like for an attacker, typically enhancing CISOs with a 300-400% increase in visibility. the attack surface. “As the old saying goes:“You can’t protect what you don’t know About,“, concludes Harris.

The company expects its Series A round to take place in 2023.

About watchTowr

watchTowr provides organizations with a continuous, real-time view of their external attack surface, through the eyes of a sophisticated attacker. Combining world-class technology, backed by some of the world’s best offensive cybersecurity experts, the watchTowr platform allows organizations to continually identify vulnerabilities that would allow an attacker to compromise an organization. Leveraging data analysis and interrogation within an agile technology framework, watchTowr encodes the tactics and techniques of attackers who imitatorhow real attackers break into organizations, continuously. www.watchtowr.com

About Prosus

Prosus is a global group of Internet consumers and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus creates leading consumer Internet companies that empower people and enrich communities. The group focuses on creating significant business in the online advertising, food delivery, payments and fintech and educational technology sectors. Through the Prosus Ventures team, the Groupinvests in new opportunities for technological growth in logistics, fintech, health, blockchain, social and e-commerce platforms, agriculture and more. The team actively supports exceptional entrepreneurs who use technology to improve people’s daily lives. Every month, more than 2 billion customers worldwide use the products and services of companies in which Prosus has invested, acquired or built. For more information, visit www.prosus.com.

NOTES TO PUBLISHERS

● The rapid pace at which surface attacks occur today makes traditional one-off exercises driven by consultants ineffective. The increased aggression of cybercriminals and attackers, which includes gun vulnerabilities to engage multiple companies (often simultaneously), means that previous security testing methods (which took weeks to perform and respond) are they have reduced to a window of 6 hours or less of discovery. In this rapidly changing world, it is imperative that organizations be aware of how they can be compromised, to enable proactive advocacy.

● In November 2021, the company raised US $ 2.25 million in initial financing, led by Vulcan Capital and Wavemaker Partners. Vulcan Capital is a privately held company founded by Microsoft co-founder Paul Allen. The company invests in leading companies in technology, internet and life sciences.

● Pros, Which oneled the $ 8 million Series A through Prosus Ventures, is Tencent’s largest shareholder.

● In June 2022, watchTowr was accepted into the Infocomm Media Development Authority’s (IMDA) SG: D Spark program, an initiative designed to support the growth of Singapore’s promising Innovation Capital Management (ICM) emerging companies providing them with selected government tools and access to a collaborative ecosystem and network.

● See Benjamin Harris biography. Harris is available for interviews.

CONTACT THE MEDIA

Ramilyn Laysa, senior associate
Identify PR
WhatsApp / Telegram +63 998 992 4925
[email protected]



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