SG cybersecurity firm raises $8m in Prosus, Vulcan Capital-led pre-series A

Singapore-based cybersecurity startup watchTowr has secured US$8 million in a pre-series A round co-led by Prosus Ventures and Vulcan Capital. The fundraise also saw participation from existing backer Wavemaker Partners.

WatchTowr founder and CEO Benjamin Harris / Photo credit: WatchTowr

Founded just last year, watchTowr helps defend its clients from security breaches by providing a real-time view of how attackers see their tech stacks. Its solution uses data analysis to identify vulnerabilities as well as the tactics that attackers employ.

Since its last funding round in November 2021, the company has helped organizations fend off vulnerabilities like the Log4Shell and ProxyShell exploits, it said in a statement. In June this year, the firm was also accepted into the Infocomm Media DevelopmentAuthority’s SG:D Spark Program, an initiative that supports the growth of Singapore-based media firms.

WatchTowr said it plans to use the new funds to explore markets outside of Southeast Asia and improve its tech.

“This investment enables us to expand our portfolio in the domain of cybersecurity and data privacy,” said Sachin Bhanot, head of Southeast Asia investments at Prosus.

The investment comes as Southeast Asia sees increasing demand for cybersecurity tech. A recent survey by US-based Fortinet showed that about 79% of executives are looking to invest in specialized cybersecurity personnel.

See Also: SEA demands cybersecurity despite tech winter

Benjamin Harris is the founder and CEO of watchTowr. Before starting the business, he served as the technical director for companies like F-Secure and MWR InfoSecurity.