Australian venture capital firm Right Click Capital has participated in a US$3.1 million Series A round for Singapore cybersecurity startup Horangi.
Led by Monk’s Hill Ventures with participation from investors including 500 Startups, Hub Ventures Fund, and 6Degrees Ventures, the funding will go towards further development of Horangi’s technology, scaling its business operations, and its expansion across Asia.
Horangi cofounder and CEO, Paul Hadjy, said the startup’s vision is to provide an affordable full-stack cybersecurity solution for users around the world.
“As cyber threats become increasingly sophisticated and complex, not to mention more frequent, Australian businesses are looking to protect themselves with proactive solutions that safeguard their customers’ information and the integrity of their own business,” he said.
Founded in 2015, the startup has three core products: Scanner, which works to detect vulnerabilities in web apps, network attached systems and source code; Hunter, a breach detection platform assessing and investigating all endpoints throughout an environment; and Storyfier, which ‘illustrates’ a company’s security story so everyone can understand vulnerabilities and take action.
The startup stated it has attracted over 50 clients, with these coming from sectors including government, financial services, and retail, with the majority based in Asia-Pacific.
Benjamin Chong, partner at Right Click Capital, said the firm is excited to back Horangi as it expands across Asia-Pacific.
“Horangi is a great example of a startup that is successfully delivering a top-tier, affordable solution to businesses of all sizes,” he said.
“The platform streamlines the various complexities that come with cyber threats, giving businesses peace of mind and the freedom to instead focus on delivering their own client experiences.”
The funding for Horangi from Right Click Capital follows its investment into Queensland startup Redback Technologies last month, with the VC firm contributing participating in its $9 million round along with the Clean Energy Innovation Fund.
Startup Daily had a chat to Benjamin Chong about Right Click Capital’s approach to investment on a recent episode of the Glass Ceiling podcast:
Image: the Horangi team. Source: Supplied.