Cypherleak, a groundbreaking cyber risk monitoring and scoring startup, recently secured a substantial investment of US$750,000 through a seed funding round. The investors behind this infusion of capital hail from prominent locations, notably Abu Dhabi, Morocco, and Qatar. Notable contributors to this investment round include Maroc Numeric Fund II and Qatar Insurance Company. The primary objective of this substantial financial backing is to fuel Cypherleak’s expansion efforts throughout the Middle East and Africa.
Cypherleak’s core mission revolves around simplifying advanced risk monitoring for smaller enterprises, rendering extensive cybersecurity technical expertise unnecessary. Their innovative approach hinges on the analysis of domain names to track leaked passwords and sensitive data across both the Public and Dark web. By doing so, the platform aids companies in comprehending the full extent of their vulnerability landscape and pinpoints weaknesses affecting their infrastructure. Employing state-of-the-art Machine Learning and advanced risk models, Cypherleak crafts bespoke security ratings that consider various cyber risk factors for each client.
Mohamed Amine Belarbi, the Founder and CEO of Cypherleak, affirmed that the injected funds would expedite their expansion efforts across the Middle East and Africa. This financial backing strengthens their position as a frontrunner in the rapidly evolving domain of cyber risk management and ratings. Supported by strategic investors, Cypherleak is poised to continue developing cutting-edge technologies and delivering unparalleled cyber risk insights to businesses and organizations worldwide.
Dounia Boumehdi, the Managing Director of MITC Capital, which manages Maroc Numeric Fund II, emphasized the critical nature of the platform in addressing the cyber threats facing SMEs in the MENA region. She highlighted the need for such solutions and expressed enthusiasm for Cypherleak’s plans to open an African regional office in Morocco dedicated to research and development.
Why the Investors Invested
Investors have chosen to allocate substantial capital to Cypherleak for several compelling reasons, rooted in the platform’s robust value proposition and the evolving landscape of cybersecurity in the MENA region. The investors’ motivations are grounded in these observations
- Addressing Cybersecurity Gaps for SMEs: The investors recognize that small and medium-sized enterprises (SMEs) in the MENA region face a growing cybersecurity threat but often lack the resources or expertise to adequately protect themselves. Cypherleak’s user-friendly and accessible approach to advanced risk monitoring directly targets this underserved market, aligning with the pressing need for cyber resilience in SMEs.
- Disrupting Cyber Insurance Underwriting: The innovative cyber risk scoring offered by Cypherleak presents a transformative opportunity for the insurance industry in the MENA region. Insurers can now assess cyber risks with greater accuracy, fundamentally changing how cyber insurance is underwritten. This forward-thinking approach aligns with the rising demand for cyber insurance, which is expected to surge in the region.
- Demonstrated Expertise and Traction: The track record of Cypherleak’s Founder and CEO, Mohamed Amine Belarbi, in the field of cybersecurity in the MENA region lends credibility to the venture. Moreover, the startup has already achieved significant traction with subscriptions from corporate clients across Europe and the MENA region. The company’s subscription offerings have garnered traction, with over 1000 corporate end-users across Europe and the MENA region, with a particular focus on SMEs. This early success signals the platform’s potential to address the pressing cybersecurity needs of the market.
