SecuLetter, an email protection platform, has netted $6m in its Series B round which ups its company valuation to $36m.
First-time SecuLetter backers Riyadh Valley Company and the Korea Development Bank led the investment, with previous backer Korea Investment Partners also contributing to the Series B.
Having closed the round, SecuLetter will expand and enhance its AI security products, deepen its R&D, increase deployment across the Middle East and expand globally.
The security platform leverages reverse engineering diagnostics to detect, analyse and block malicious code which seeks to enter a non-executable file.
When source code of incoming files enters the client’s system, SecuLetter analyses it for malicious code before the file executes the code. This means the platform can block malicious code in document files which other solutions cannot, the company claims.
RVC CEO Khalid Al-Saleh said, “Since the cyber-attacks against Saudi Arabian national organizations have become notorious worldwide, we have been interested in finding leading overseas cyber security companies at the national level. After more than a year’s careful evaluation, we decided to invest in SecuLetter because we believe the company is sound and possesses outstanding technical excellence and marketability.”
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