Global cybersecurity leader BrandShield nets $3.38m

Global cybersecurity leader BrandShield nets $3.38m

BrandShield, a prominent global cybersecurity company, has made headlines with its latest financial and strategic moves.

The company recently garnered $3.38m in capital. Noteworthy investors behind this round include Gigi Levi Weiss from NFX, Sir Terry Leahy, the ex-CEO of Tesco, Joseph Haykov, and the investment consortium William Curry.

Founded in Israel, BrandShield stands as a paramount figure in the cybersecurity realm. Through its AI/ML platform, it offers protection against phishing, online fraud, counterfeiting, and various cyber threats. High-profile names like Bristol Myers Squibb, Levi’s, New Balance, and the Pharmaceutical Security Institute trust BrandShield for their online safety.

This capital influx aligns with BrandShield’s strategic decision to leave the London Stock Exchange (LSE), where it traded publicly for close to three years. The exit aims to hasten the company’s growth trajectory and bolster its valuation.

Since its Reverse Takeover (RTO) on the LSE in December 2020, BrandShield’s Annual Recurring Revenue (ARR) showcased a tremendous leap, from $2.87m to $9.85m by August 2023. The first half of 2023 alone witnessed a 56.3% growth rate in revenue, touching $4.42m, while net losses were curtailed by 53%, resting at $2.05m. Concurrently, there were improvements in gross profit margins, rising from 48% in H1 2022 to 68% in H1 2023, credited to technological and operational enhancements.

BrandShield CEO Yoav Keren remarked, “Our tenure on the London Stock Exchange allowed us to raise capital and expand, positioning us among the top three companies in Digital Risk Protection solutions, according to Frost & Sullivan.

“The LSE market’s response to our exceptional performance did not align with expectations, a common challenge faced by growing SaaS companies, so our board of directors decided the best path forward is for us to delist the company from the London stock market to create more value for our shareholders. This fundraise represents a resounding vote of confidence from our investors, both longstanding and newer additions.”

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