ArmourZero Secures Gobi Partners Investment to Streamline Cybersecurity Solutions for Businesses

ArmourZero Secures Gobi Partners Investment to Streamline Cybersecurity Solutions for Businesses

Gobi Partners, a prominent venture capital firm in Asia, has recently made a significant investment in ArmourZero, a cloud-based cybersecurity company that specializes in AI-driven Application Security and Security-as-a-Service (SECaaS). This investment was facilitated through the Gobi Dana Impak Ventures (GDIV) fund, supported by Khazanah Nasional Berhad. While the exact funding amount remains undisclosed, the implications of this partnership are noteworthy.

About ArmourZero: A Rising Star in Cybersecurity

Founded in 2022, ArmourZero officially commenced operations in January 2023 and has since established subsidiaries in Malaysia, Singapore, and Indonesia. Co-founded by cybersecurity expert Tho Kit Hoong and technology entrepreneur Chong Wai Lun, ArmourZero aims to meet the security needs of software developers and small to medium-sized enterprises (SMEs).

Innovative Cybersecurity Solutions

ArmourZero offers an integrated cybersecurity platform designed to help businesses effectively mitigate cyber threats. Key features of their offerings include:

  • ShieldOne: This flagship product provides unified threat monitoring, management, and response by consolidating endpoint security, email protection, and patch management into a single platform.
  • Managed Detection and Response (MDR): Ensures real-time threat detection and proactive incident management at a cost-effective rate.
  • ScoutTwo: Focuses on AI-powered application security, identifying vulnerabilities in web and mobile applications and offering automated remediation.

Future Plans and Market Potential

With this investment, ArmourZero intends to expand its product offerings and strengthen its footprint across Southeast Asia. The cybersecurity market in the region is projected to escalate from $35 billion in 2023 to $84 billion by 2028, fueled by an increase in cyber threats and rapid digital transformation.

SMEs, which represent 99% of businesses in Malaysia, face considerable cybersecurity risks due to limited resources. ArmourZero’s solutions aim to bridge this gap, helping SMEs bolster their cyber resilience and mitigate financial losses related to cyberattacks.

READ ALSO  Prosper Secures £4M Funding to Revolutionize Wealth Management and Upgrade Investment Services

Leadership Insights

Tho Kit Hoong, CEO and co-founder of ArmourZero, emphasized, “Our goal is to redefine cybersecurity by making it simpler and more accessible for businesses of all sizes to defend against cyber threats. This investment accelerates our innovation and strengthens our commitment to providing powerful, AI-driven security solutions that simplify cybersecurity and eliminate complexity.”

Jamaludin Bujang, managing partner at Gobi Partners, added, “ArmourZero is addressing a critical issue by making cybersecurity accessible for businesses and digital applications, particularly for SMEs—a vital segment that drives economic growth yet remains underserved in digital protection. Their innovative platform and leadership team align with Gobi’s vision of supporting startups that deliver meaningful impact.”

For more information about cybersecurity trends and solutions, consider visiting CSO Online.

Similar Posts

Encompass Corporation Unveils EC360: Revolutionizing Corporate Client Verification

Encompass Corporation Unveils EC360: Revolutionizing Corporate Client Verification

Bysupport

Encompass Corporation has introduced EC360, a platform designed to transform Know Your Customer (KYC) processes in banking. As a leader in KYC automation, Encompass aims to improve operational efficiency and compliance. The EC360 platform integrates public and private data sources, automating data collection and enhancing decision-making through rapid identity verification. It streamlines client onboarding, reducing time by up to 32% and improving efficiency by 21% in the first year. CEO Wayne Johnson emphasizes that EC360 provides a strategic approach to meet rising regulatory demands and customer expectations, positioning banks for exceptional service and modernization in a competitive landscape.

Crossmint Raises $23.6M to Revolutionize Blockchain for Businesses and AI Solutions

Crossmint Raises $23.6M to Revolutionize Blockchain for Businesses and AI Solutions

Bysupport

Crossmint, a prominent all-in-one blockchain platform for businesses, has raised $23.6 million in a funding round led by Ribbit Capital, reflecting a remarkable 1,100% increase in subscription revenue in 2024. The platform offers user-friendly tools for businesses to develop blockchain applications with minimal coding, enabling wallet integration, tokenization, and payment management. Over 40,000 businesses, including Adidas and Red Bull, utilize Crossmint’s services, enhancing consumer engagement with traditional methods and avoiding technical complexities. Co-founder Alfonso Gomez-Jordana highlighted the potential of AI in commerce, positioning Crossmint to support future AI-driven applications. Ribbit Capital endorsed Crossmint’s innovative impact.

Armis Acquires Otorio for $120M to Enhance Cybersecurity in Physical Environments

Armis Acquires Otorio for $120M to Enhance Cybersecurity in Physical Environments

Bysupport

Armis, valued at $4.2 billion, has acquired Tel Aviv-based Otorio for approximately $120 million in cash and shares. Otorio specializes in securing industrial environments, and its flagship product, Titan, will be integrated into Armis’ Centrix platform. This acquisition enhances Armis’s capabilities in industrial cybersecurity, addressing vulnerabilities as machinery becomes more connected. The deal also strengthens Armis’s zero-trust security offerings, following its successful efforts against AI-driven threats. This marks Armis’s third acquisition in a year, reflecting a trend of consolidation in the cybersecurity sector, as companies seek to enhance their expertise through strategic mergers.

EquiLend Revolutionizes Securities Finance Technology with Strategic BNY Investment

EquiLend Revolutionizes Securities Finance Technology with Strategic BNY Investment

Bysupport

EquiLend, a leader in securities finance technology, has secured a significant minority investment from an affiliate of The Bank of New York Mellon Corporation (BNY). This partnership, involving eight major financial institutions, aims to enhance EquiLend’s innovative solutions, particularly the 1Source platform, which utilizes distributed ledger technology to streamline securities finance operations. The investment will support the development of this platform and improve market transparency. BNY will also be one of the initial users of 1Source, highlighting its commitment to EquiLend’s vision. Both companies express confidence in this collaboration to tackle industry challenges and drive efficiency.

Regnology Boosts SupTech Solutions with Strategic Acquisition of BR-AG

Regnology Boosts SupTech Solutions with Strategic Acquisition of BR-AG

Bysupport

Regnology has acquired BR-AG, enhancing its regulatory reporting solutions and expanding its international presence in the banking sector. Founded in 2005, BR-AG specializes in consulting for taxonomy and data model development, aiming to improve reporting efficiency and compliance. The acquisition will bolster Regnology’s Regulatory Supervision Hub and integrate BR-AG’s ATOME suite, enhancing supervisory capabilities and digital transformation. This collaboration promises advanced tools for Data Point Model design, improved regulatory data expertise, and modern API technology, benefiting both regulators and banks. Together, they will reach nearly 100 regulatory bodies globally, fostering innovation and efficiency in regulatory processes.

Fintech Varo Secures Additional $29 Million After $1 Billion Funding Round and Announces New CEO

Fintech Varo Secures Additional $29 Million After $1 Billion Funding Round and Announces New CEO

Bysupport

Varo, a leading fintech company, is raising a $55 million Series G round, having secured $29 million so far. Since its founding in 2015, Varo has raised over $1 billion, though its valuation has fluctuated. In 2023, it completed a $50 million equity round, valuing the company at $1.85 billion. Recently, CEO Colin Walsh resigned, and Gavin Michael, former CEO of Bakkt, will take over. Despite these changes, Walsh will remain on the board. Varo, which became the first all-digital nationally chartered consumer bank in the U.S. in 2020, reported a loss of nearly $65 million as of early 2024.