spiderSilk raises growth funding led by Global Ventures
spiderSilk, a Dubai-based cybersecurity firm specialized in simulating the most advanced cyber offenses on technology to build the best security defenses, has just raised a round of funding led by Global Ventures, a UAE-based venture capital fund. The firm will be one of the latest additions to Global Ventures’ current portfolio of 8 companies.
spiderSilk’s proprietary machine-driven technology enhances the capabilities of its ethical hackers, thereby leveraging the power of machines coupled with the creativity of human beings. The Company simulates adversarial cyber-attacks and advises on how to best protect against the ever-increasing threats posed by cybercrime. spiderSilk’s methodologies and “enhanced-hackers” allow them to achieve simulations with the greatest impact, and as a result they have uncovered threats that would have impacted over 120 million human beings in aggregate. The Company focuses on finding security exploits and vulnerabilities in applications residing within public as well as internal infrastructure and has collaborated with Samsung Global, Huawei, EA Games, Navblue, WeWork to name a few.
Global Ventures is a venture capital firm led by Noor Sweid and Basil Moftah, who hold decades of experience investing, scaling and successfully exiting businesses by IPO and private sales. As of today, investments made by Global Ventures include Lunch:ON, HolidayME, Kitopi, ArrowLabs and CDP, amongst others. The fund's investments focus on enterprise technology companies in the MENA region, enabling the scale-up of these young companies into global markets and creating global success stories.
Noor Sweid, General Partner at Global Ventures, stated, “We are excited to announce Global Ventures’ investment in a top-tier cybersecurity firm such as spiderSilk, and look forward to working closely with the founders to enable the Company to scale its growth regionally and internationally.”
Rami El Malak, Co-founder at spiderSilk, stated, “We couldn’t think of a better DNA match for us than Global Ventures. Not only do they share our vision and values, but their scale and experience will facilitate in achieving our ambitions. We believe that there is a massive opportunity to significantly scale spiderSilk beyond the region, and further realize its true potential.”