Singapore-based cybersecurity firm Blackpanda has secured $15 million in its Series A round led by Primavera Venture Partners and Gaw Capital Partners, according to a statement.
The startup will use the capital to fund expansion across Asia.
US-based early-to-growth-stage investor WI Harper also participated in the round.
Founded in 2015, Blackpanda provides cyber security incident response focusing on digital forensics and cyber crisis.
Blackpanda plans to use the funding to accelerate its cybersecurity services including digital forensics and incident response. The company will also focus on developing its underlying artificial intelligence & machine learning cybersecurity insurtech platform.
With offices in Singapore, Hong Kong, Tokyo, Manila, and San Francisco, Blackpanda plans to deepen its presence across Asia. The company has received a total of $23 million in funding to date.
“Nearly half of all Singapore businesses suffered a cyber-attack in 2021. A business owner wouldn’t open a physical office without any access to firefighters. Yet chances of a fire are only 1 out of 2000 for businesses, while a cyber-attack is an incredible 1 out of 5,” said Blackpanda chief executive officer Gene Yu.
The company is led by risk and security experts from international military special forces, intelligence, forensics, and law enforcement backgrounds.