Singapore-based cybersecurity platform watchTowr has collected $8m for its pre-Series A funding round.
Prosus Ventures and Vulcan Capital served as the co-lead investors to the round.
With the capital injection, the company hopes to enhance its technology and capitalise on growth opportunities in Southeast Asia.
watchTowr, which launched its services in late 2021, provides organisations with a continuous, real-time view of their external attack surface – through the eyes of an attacker. By pairing technology and cybersecurity experts, it claims to give companies the ability to find their vulnerabilities.
Its services are used by companies in the banking, insurance, technology and e-commerce sectors.
watchTowr CEO Benjamin Harris said, “Our technology gives organisations visibility of how they could be compromised, in real-time. Traditional assurance approaches, like penetration testing, are no longer effective or rapid enough to keep organisations secure.
“By continuously incorporating the latest attacker tactics and techniques into the watchTowr Platform, CISOs can understand their susceptibility to emerge vulnerabilities and threats in hours, rather than weeks or months.”
watchTowr is planning to raise its Series A round in 2023.
The company previously raised $2.25m in its seed round in November 2021.
Singapore’s FinTech sectors had a stellar 2021, FinTech Global’s data shows. A total of $3.4bn was invested through 207 transactions, a colossal rise from the $900m invested through 110 deals in 2020.
This year is also off to a great start. A total of $800m has been invested into 65 companies in the first three months of the year.
Copyright © 2022 RegTech Analyst
Copyright © 2018 RegTech Analyst
