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SecuLetter Raises US$8M in Series B Funding

SecuLetter Raises US$8M in Series B Funding SOUTH KOREA Published onMarch 20, 2020 HOME SOUTH KOREA SECULETTER RAISES US$8M IN SERIES B FUNDING SecuLetter Raises US$8M in Series B Funding SOUTH KOREA Published onMarch 20, 2020 SecuLetter closes US$8M Series B funding round to accelerate global expiation into cyber security market. SecuLetter Co., Ltd, a Seoul, South Korea-based information security company, closed US$8m in Series B funding. This included US$2m from UTC Investment in late February, three months after raising US$6m in November 2019. This brings SecuLetter’s total funding to US$10.02m. The valuation is estimated to be US$38 million. The round led Riyadh Valley Company (RVC), a Saudi Arabian venture capital firm, KDB Bank (Korea Development Bank), Korea Investment Partners (KIP), and UTC Investment. The company intends to use the funds to expand its product lineup, develop products that incorporate AI-based malware detection and CDR(Content Disarm & Reconstruction), and strengthen its R&D capabilities. Led by Lim Chasung, CEO, SecuLetter is an information security company that develops and provides products that detect, diagnose, analyze and block malicious code attacks that are difficult to diagnose by signature and behavior-based security solutions using proprietary reverse engineering diagnostic technology. FinSMEs 20/03/2020

2020-03-24

SecuLetter Attracts a USD 6 Million Series B Funding

SecuLetter Attracts a USD 6 Million Series B Funding NEWS PROVIDED BY Born2Global Centre Nov 27, 2019, 18:20 ET PANGYO,South Korea,Nov. 27, 2019/PRNewswire/ --SecuLetter, a member company of theBorn2Global Centre, has attracted aUSD 6 millionseries B investment, and received corporate valuation ofUSD 36 million. This time,Riyadh Valley Company (RVC)and theKorea Development Bank (KDB Bank), both new investors, participated with the existing investor, theKorea Investment Partners. Investment was completed onNovember 14. RVC, a Saudi government-owned investment institution, found SecuLetter attractive for its email security technology and non-executable file attack diagnosis technology. Dr.Khalid Al-Saleh, RVC's CEOsaid, "Since the cyber-attacks against Saudi Arabian national organizations have become notorious worldwide, we have been interested in finding leading overseas cyber security companies at the national level. After more than a year's careful evaluation, we decided to invest in SecuLetter because we believe the company is sound and possesses outstanding technical excellence and marketability." SecuLetter plans to use this investment to expand and enhance its AI security products, strengthen its R&D, to grow quickly in theMiddle Eastmarketwherethe Gartner forecasted its growth, and enter the global security market. SecuLetter's security technology uses reverse engineering diagnostics to detect, analyze and block malicious code that seeks to enter in a non-executable file. The source code of incoming files is analyzed and malicious code detected before the sleep mode regardless of whether the file executes or not. Since it analyzes and diagnoses at assembly level without waiting for execution, it effectively blocks malicious code in document files that existing execution-based solutions are not able to detect. It also significantly shortens the diagnostic time and reception delay over those execution-based solutions. Lim Chasung, SecuLetter's CEO, said, "We are on the way to becoming a leading cyber security company in Korea through our advanced security technology and continuous creation of a variety of growth opportunities." SecuLetter's security solutions have received 2018 Excellent Information Protection Technology and Product Selection from Ministry of Science and ICT and Korea Internet & Security Agency as well as GS certification and CC certification. BNK Busan Bank, KAMCO, KSD, and KTCU have adopted and are taking advantage of SecuLetter's security solutions, as are major national institutions with a competitive edge in cyber security, including KEPCO E&C, Korea Post Information Center, and KISA. For more detailed information on SecuLetter, visithttps://www.seculetter.com/content/en/. Media Contact SecuLetter:contact@seculetter.com Born2Global Centre:jlee@born2global.com SOURCE Born2Global Centre Related Links https://www.seculetter.com/content/en

2020-03-24

K-ITC Born2Global Center and its Members ⑥ SecuLetter

K-ITC Born2Global Center and its Members ⑥ SecuLetter On July 18, the information protection service company SecuLetter announced that it will receive an investment from a domestic venture capital company by the end of the month. CEO Lim Cha-sung said, “We will soon be receiving a Series A round as an investment in the development phase of our product.” He went on to add, “We are currently in the final steps of processing the investment and will soon reveal the exact investment amount.” After the company has received and processed all domestic investments, it plans to conduct activities in the U.S. in hopes of attracting additional investments overseas. The reason behind the success of SecuLetter, a start-up company, in attracting domestic and foreign investment in the highly competitive information protection service market is the specific focus of its service. By targeting email attachments only, it maximized the detection capability of its information security service and developed a general, cloud-based service — both of which enabled a significant price decrease. Thanks to the efforts of SecuLetter, SMEs and private users can now receive the same quality of information protection services as conglomerates, which use costly APT (advanced persistent thread) solution equipment. The company’s information security service for email attachments, which constitute a major means of access for hackers, is based on technology more advanced than that of existing behavior-based detection techniques. CEO Lim said, “Based on reverse engineering, SecuLetter’s engine is able to effectively detect and intercept APTs concealed in malignant email attachments even before they are initiated.” If the company is successful in securing investment from the U.S., SecuLetter will release its cloud-based information protection service product at the end of the year and begin preparing for its U.S. launch as well. Source: The Korea Herald July 22, 2016 Link: http://khnews.kheraldm.com/view.php?ud=20160722000592&ACE_SEARCH=1

2018-07-10