Hub71-based Cypherleak raises $750,000 in seed round

Cypherleak, a cyber risk monitoring and scoring startup based in Abu Dhabi, has successfully closed a $750,000 seed round from investors based in Abu Dhabi, Morocco and Qatar.

This investment from entities, including Maroc Numeric Fund II and Qatar Insurance Company, will help drive the company’s expansion across the Middle East and Africa (MEA) region.

Cypherleak specialises in simplifying advanced risk monitoring for smaller companies, eliminating the need for extensive cybersecurity technical expertise.

By only utilising the domain name, the startup allows organisations to track their leaked passwords and information on both the public web and dark web, and enables them to identify the full extent of their attack surface and pinpoint vulnerabilities affecting their infrastructure.

The company employs machine learning and advanced risk models to deliver customised security ratings based on many cyber risk factors tailored for each customer.

Cypherleak is focused on MEA expansion

Since its launch in April 2022, Cypherleak has rapidly established itself as a critical player in the cybersecurity industry.

The company has successfully sold subscriptions to over 1,000 corporate end-users across Europe and the MEA region, focusing on SMEs, often priced out of enterprise cybersecurity products. It streamlines the process for smaller companies to deploy advanced risk monitoring without the need for deep cybersecurity technical knowledge.

Mohamed Amine Belarbi, founder and CEO of Cypherleak, said: “The funding injection will enable us to accelerate our expansion across the MEA region, fortifying our position as a leading player in the rapidly evolving field of cyber risk management and ratings.

“By being part of the Hub71 ecosystem, we have been able to gain access to a vast network of strategic investors. Through the backing of our new investors Cypherleak is well-positioned to continue developing cutting-edge technologies and delivering unparalleled cyber risk insights to businesses and organisations across the region and the world.”

One of the most compelling use cases for Cypherleak’s technology is cyber insurance underwriting.

The company’s cyber risk monitoring capabilities empower insurers to provide continuous value-added risk monitoring and mitigation services to their cyber-insured customers throughout the coverage period.

While its holding company is in Delaware, the startup has a presence in Hub71.

The company is in the process of opening an African regional office in Morocco.