Gobi Partners, a leading Asian venture capital firm, has announced an undisclosed strategic investment in ArmourZero Holdings, a cloud-based cybersecurity platform based in Malaysia.
The investment, made through the Gobi Dana Impak Ventures (GDIV) fund, is backed by Khazanah Nasional and aligns with Khazanah’s Dana Impak mandate.
According to Tho Kit Hoong, CEO of ArmourZero, the investment will accelerate innovation.
Co-founded in 2022 by cybersecurity expert Hoong and tech innovator Chong Wai Lun, ArmourZero aims to address the cybersecurity needs of software developers and small and medium enterprises (SMEs).
Also Read: Embracing unity: A celebration of diversity and inclusion at ArmourZero
The platform tackles issues such as high cyber threat incidence, inadequate threat containment, prohibitive costs, and limited access to integrated security systems.
Key solutions:
ShieldOne: A unified threat monitoring, management, and response system. It integrates endpoint security, email protection, and patch management into a single platform. ShieldOne provides real-time threat protection, 24×7 Managed Detection and Response (MDR), and partners with industry leaders such as CrowdStrike and Checkpoint.
Managed Detection and Response (MDR): A core feature of ShieldOne, it offers real-time threat detection, proactive incident management, and rapid response through a dedicated team of cybersecurity analysts.
ScoutTwo: An AI-powered application security system that secures web and mobile applications from development to deployment. It provides instant vulnerability detection, risk prioritisation, and AI-powered remediation recommendations.
ArmourZero aims to bridge this gap by helping SMEs mitigate risks, reduce costs, and strengthen their digital defences. In Malaysia, over 28,000 cyberattacks were recorded in 2022, with incidents between 2017 and 2021 resulting in RM2.23 billion (US$490 million) in financial losses.
ArmourZero has subsidiaries in Malaysia, Singapore, and Indonesia. The company’s core activities are based in Malaysia.
The cybersecurity market in Southeast Asia is projected to grow from US$35 billion in 2023 to US$84 billion by 2028. SMEs, which make up 99 per cent of Malaysian businesses, are particularly vulnerable due to limited resources and awareness.
The post Gobi invests in ArmourZero to bolster SME cybersecurity defences appeared first on e27.