Egypt: Cyber security business receives investment from A15
Buguard, the Cairo-based security and dark web monitoring company, has announced the successful completion of its $500,000 seed fundraise.
The fundraise was led by venture capital firm A15, along with participation from angel investors.
The capital is Buguard’s first external funding, with the company having been bootstrapped since its 2021 launch.
Buguard offers offensive security services including penetration testing and vulnerability assessment, phishing simulation, compromise assessment, threat intelligence and red teaming. Since it commenced operations, Buguard has served many of Egypt’s leading businesses, including Paymob, Fawry, EFG-Hermes, Halan, Lucky, Thndr, MaxAB, Eksab, Rabbit Mart, amongst others. Buguard has developed a global client base spanning Saudi Arabia, the United States, France, Australia, Japan, the United Kingdom, Singapore, and the United Arab Emirates.
Alongside its existing offensive security services, Buguard has announced the official launch of Dark Atlas, its new SaaS product for dark web monitoring and account takeover prevention. The dark web is a hidden part of the internet often used by cybercriminals to distribute malware which can lead to capturing of personal credentials such as usernames, passwords, and payment card details.
Karim Beshara, A15 general partner, commented, “We have been very impressed by the domain expertise exhibited in Buguard’s security researchers and engineers and are very excited to partner with Youssef and Buguard’s best-in-class team. Threats posed by ever evolving cybercriminal tactics are a serious threat to businesses, both large and small. It is becoming increasingly important to take proactive measures to protect against these threats. Buguard does just that through its security services and Dark Atlas.”
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