In a move to secure modern enterprises against the next generation of cyberattacks, Quick Heal Technologies Ltd., an Indian cybersecurity firm, has decided to invest $2 million (approximately ₹14 crores) in L7 Defense, an Israel based cybersecurity start-up. Such an initiative would further strengthen Quick Heal’s ability to provide better solutions to enterprises in the present world.
Over time, Quick Heal through the means of investments has been successful in serving its direct partners and customers in the entire MENA region. Israel’s overall dominance in the cybersecurity space has been termed as a major reason behind Quick Heal’s investment in the Israeli firm.
Israel today comes under the top five countries that have the best cybersecurity measures globally. Other than collaborating with the superpowers, Israel has also supported the smaller nations, created hundreds of cybersecurity startups, exported products, and attracted foreign investors. Hence, Quick Heal’s investment in Israeli cybersecurity startup has been viewed as a wise move by the cyber experts.
Quick Heal has developed security software for consumers, cloud computing environments, servers, and small and medium enterprises, since its incorporation in 1995. It has also sold products directly to customers or through its partner channel. Its proprietary antivirus technology works to detect security threats including virus and malware attacks in real-time.
On the other hand, the L7 Defense has been a leading cybersecurity technology pioneer and the provider of the award-winning Ammune enterprise-grade API (application programming interface) security solution. It specialises in Application Program Interface (API) Security and Next Generation Web Application Firewall (NG-WAF) and protects APIs with the AI-based, in-line, autonomous API protection solution that keeps learning.
With Quick Heal’s investment of $2 million, L7 Defense has successfully completed a financing round of $4m, led by a Germany-based TRUMPF Venture. The funds would be used to solidify its technological leadership, boost its marketing and business development activities, and extend its market reach.
Likewise, Quick Heal plans to leverage L7 Defense’s proprietary AI-powered Ammune technology that basically provides protection against DDOS attacks, BOT attacks, and other malicious threats targeting the APIs. The investment would also enable strategic alignments between both the companies. It would allow Quick Heal to expand under the ‘Seqrite’ umbrella, Quick Heal’s venture and allow L7’s flagship products to be introduced in India, as well as Asia-Pacific and parts of Europe, the Middle East, and Africa.
It is not the first time when Quick Heal had invested in L7 Defense. In view of the economic reforms in the Middle East, the Indian cyberfirm also invested $300,000 in L7 Defense during the previous financial year. Quick Heal considers the region as developing into fast-growing urban centres. Its expansion in these markets would strengthen its presence globally and allow it to connect with the organisations that understand the role of technology in transforming businesses and driving innovation. Similarly, several other Indian firms like Matiti Group, Attivo Networks, etc. are also trying to strengthen their presence in the Middle East.
The present investment is Quick Heal’s third investment in the last 18 months. Besides two investments in L7 Defense, the Indian firm also invested in Singapore based Ray Pte. Since the last few years, it has become one of the top key players following the evolution of the growth path of the cybermarket. Overall, the investment would allow Quick Heal to further foray into application security and expand its reach in the Middle East.
Tech Rise 