muru-D Singapore’s Apvera secures SG$1.7M in growth capital
Apvera, a threat intelligence company in Singapore and muru-D Singapore alumni, announced last week that it has closed a SG$1.7M round of financing, led by ACP and SPRING Singapore.
Led by ACP and SPRING Singapore, will be used to further develop and scale Apvera’s Insight 360 threat intelligence platform, and accelerate its go-to-market and sales execution efforts.
The round also included participation from Asia-based Nest Ventures who will join existing investors, muru-D Singapore and Central Exchange. As part of the financing, Mr. Surinder Kathpalia, ACP Director will be joining Apvera’s Board of Directors.
“We firmly believe that automation and machine learning is the way of the future and a key ingredient in identifying threats through behavioural intelligence,” said Sameer Narula, Managing Partner of ACP. “Apvera has built an impressive platform demonstrating that companies can no longer afford to take the same static path to detecting threats and just how eagerly the market is embracing this new approach.”
“Thanks to the support we have received from governmental organisations such as SPRING, Singapore is the perfect location for us to build our business and expand it to new clients – not just in ASEAN, but also globally,” said Eric Meyer, CEO Apvera. “We would like to thank each of the investors who have validated our technology and have provided us with on-going guidance through this round of funding. For us, the next step is to deploy this capital in a structured way that will help us achieve a new level of global traction and scale.”
Apvera joined muru-D Singapore’s inaugural cohort which graduated in March this year.
“We are delighted to see the Apvera team growing from strength to strength and in particular securing this latest round of funding,” said Annie Parker, muru-D Co-Founder. “Apvera continues to play an active role as muru-D alumni and we’re proud to see that they are constantly sharing their experience and knowledge with the rest of the muru-D network.”
Given the ever-increasing scope and tenacity of targeted cyber-attacks on businesses, organisations and governments, Apvera’s solution applies user and entity behaviour analytics, bringing real-time endpoint profiling and anomaly detection by leveraging advances in machine learning.
The Apvera Insight 360 platform adopts an internal and external view, with the lateral movement modelling of endpoint activities, combined with threat intelligence from within an organisation’s perimeter. The self-learning, multi-dimensional, analytics platform examines all user, endpoint, application and network activities, providing a comprehensive 360-degree view of the organisation’s security position.
Apvera is targeting various industries with a tailored use case approach. For instance, the platform helps financial services businesses protect their intellectual property, sensitive client data and business-critical infrastructure whilst also satisfying regulatory compliance. Financial services firms face growing pressure from stringent industry and government regulations and these data protection and privacy mandates increase regulatory compliance costs and risk. Automating risk management and compliance programmes is one way an organisation can seek to improve its cyber-resilience.
(Photo: Apevra was exhibiting during Singapore FinTech Festival 14-18 November 2016 at Singapore EXPO; Photo Credit: David Ding)
Read more in our Startup Series, this post orginally appeared on Telstra Exchange.
THE AUTHOR
JAMIE CAMIDGE
muru-D, Head of Strategic Partnerships & Alliances
Jamie is muru-D’s Head of Strategic Partnerships & Alliances. He is an experienced strategist within the telecoms, media and technology sector, with strong transaction experience. Jamie has held a number of executive roles at Telstra since 2008, as Director of Strategy for Telstra Media Group (FOXTEL, Sensis and Digital Media) and General Manager, Corporate Strategy. His roles at Telstra saw him advising the Telstra CEO and Board multiple market entry / exit strategies including the $2.5Bn acquisition AUSTAR COMMUNICATIONS and Telstra’s recent partial divestment of Sensis. Prior to joining Telstra, Jamie worked as a management consultant, serving clients including ANZ Bank, BNP Paribas, Downer EDI, General Motors Holden, and Telecom New Zealand. He is also co-founder of Pisces Group, an Australia-based technology business serving the retail mortgage industry