Horangi, a Singapore-based cybersecurity startup, has landed $20 million in a Series B funding from Provident Growth. Besides, Monk's Hill Ventures, Right Click Capital, and Genesis Alternative Ventures also participated in the funding round.
With this investment, Horangi is going to extend its startup in South-east Asia, and it is planning to improve its SaaS cloud-security product called “Warden”, by using the combination of technologies like artificial intelligence and machine learning to be helpful for the organization to stay updated and ahead of all the advanced threats. It is also doubling its staff of 160 members in all over the region, and it is trying to grow its presence in a few more countries such as Indonesia and Singapore, from where it will see the highest demand for SaaS cybersecurity. Moreover, Horangi has now reached the total funding of $23.1 million.
In 2016, Lee Sult and Paul Hadjy founded Horangi. It is a SaaS cybersecurity startup, which provides newly enhanced and latest technologies and products to protect organizations to stay away from the threats.
Chief Executive and Co-founder of Horangi, Paul Hadjy said, the south-east Asian businesses are digitalizing very quickly. However, due to the lack of security in the region, several organizations have security and they are becoming experts in cybersecurity like Horangi.
Paul further added that cybersecurity is very common and widespread in Indonesia, as we've been focusing more since 2016. A strong team, technology, and local insights are allowing us to collaborate with several investors that help us to push the growth to the next level.
Recently, Horangi has collaborated with the Tokio Marine Insurance of Singapore, and the global insurance company is becoming the first partner of a SaaS cybersecurity startup in the pacific region.
Partner at Provident Growth, Michael Aw said, Horangi is having a high-quality founders team and they do have a good experience in cybersecurity. Moreover, its brand is quite well-settled because of its reputed technology customer and it is one of the market leaders.
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