SecuLetter, an information security solution provider, closed an $8 million Series B funding round.
Investors include Riyadh Valley Company, a Saudi Arabian venture capital firm, Korea Development Bank, Korea Investment Partners, and UTC Investment.
The Series B funding round brings the company’s valuation to almost $38 million.
The company plans to use the new funds to expand its product lineup, develop products that incorporate AI-based malware detection and CDR (Content Disarm & Reconstruction), and strengthen its R&D capabilities.
The SecuLetter solutions help detect, diagnose, analyze, and block malicious code attacks that are difficult to diagnose by signature and behavior-based security solutions using proprietary reverse engineering diagnostic technology.
The SecuLetter flagship products MARS SLE (email security solution) and MARS SLF (malicious code blocking system used in network separation) are used by major national institutions, financial institutions, and companies including KEPCO E&C, Korea Post Information Center, Korea Internet & Security Agency, BNK Busan Bank, Korea Asset Management Corporation, Korea Securities Depository, and Korean Teachers’ Credit Union.
Including the latest funding round, SecuLetter has raised $10.02 million to date.
Image Credit: SecuLetter