Singapore-based cybersecurity startup watchTowr raises $8 million in Pre-Series A funding led by Prosus Ventures
- ByStartupStory | August 3, 2022
WatchTowr, a Singapore-based cybersecurity business, has raised $8 million in a pre-Series A fundraising round headed by Prosus Ventures, the investment arm of Internet conglomerate Prosus, with Microsoft co-founder Paul Allen’s Vulcan Capital. Wavemaker Partners, an early-stage investor, also participated in the funding round. In November of last year, watchTowr secured $2.25 million in initial money from Vulcan Capital & Wavemaker Partners.
The new funding will be used to improve WatchTowr’s proprietary platform and grasp development prospects outside of Southeast Asia. In contrast to traditional procedures such as penetration testing, the firm, which began operations late last year, provides a platform that enables organizations real-time access to how they may be infiltrated.
“By regularly adding the newest attacker methods and approaches into the watchTowr platform, chief information security administrators may understand their vulnerability to develop threats and vulnerabilities in hours, rather than weeks or months,” stated Benjamin Harris, CEO of watchTowr.
According to watchTowr, it is receiving interest from banks, insurance, and financial services organizations, as well as e-commerce & technology brands. Vulcan Capital managing director & head of Southeast Asia Tommy Teo stated that the startup “in a very short amount of time has exhibited promising traction and ability to develop.” Prosus Ventures’ head of South-East Asia investments, Sachin Bhanot, stated that this investment broadens the firm’s portfolio in cybersecurity & data privacy. “Our early entry indicates our belief in the platform,” he continued.
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