A Singaporean cybersecurity startup, Apvera, announced yesterday it has raised a S$1.7 million (US$1.2 million) led by early-stage VC firm ACP and SPRING SEEDS Capital, the investment arm of the government agency SPRING Singapore.
Nest Ventures, muru-D, and existing investor Central Exchange also participated in the round.
The money will be used to develop and scale Apvera’s threat intelligence platform and boost its go-to-market and sales efforts. CEO Eric Meyer said the next step is deploy the capital in a structured way to achieve scale.
Apvera uses automation and machine learning and machine learning to predict and prevent threats through behavior analytics. The company also prioritises internal and external threats to help companies make decisions regarding their security.
The company believes that advanced threat protection and signature-based methods of threat detection are not relevant moving forward. Rather it focuses on real time endpoint profiling and anomaly detection that the company says provides a 360-degree view of the business’s security concerns.
For example, Apvera helps financial services companies protect intellectual property, client information and infrastructure. As the digital economy continues to grow, these businesses have to adapt to increased regulations and compliance issues. Apvera says automating risk management and compliance programmes is important for companies to improve cyber security.
“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,” said Sameer Narula, Managing Partner of ACP in a statement.
Apvera was founded in 2014.
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