Gurugram, 30th July 2024: – WhizHack, a vertically integrated ecosystem security pioneer, today announced it has raised $3 million as Pre-Series A funding round by existing investor, SAAA Capital, Singapore, at a valuation of over $100 million. Founded in November 2020, WhizHack has grown its business from both Enterprise and Government segments by over 200% annually and shareholder value by over 50 times within 3 years. SAAA Capital, a leading investment firm in Singapore and focuses on investing in Emerging Tech companies has been a key investor in WhizHack for the last couple of years. The earlier investors in WhizHack have been Rising Star, Netherlands, SAA Capital, Singapore and Rahul Chawla, Managing Director, Deutsche Bank, India.
WhizHack was founded by 3 industry veterans having over 100 years collective experience of managing global deep tech businesses and start-ups. The company has 3 divisions – building security product IPs, providing global managed security services and providing an entire mix of scalable security training for empowering enterprises and governments. WhizHack’s pathbreaking triple engine platform ZeroHack™ detects and mitigates advanced cyber-attacks on OT/IT networks with unmatched speed, accuracy and economics and is being used by leading critical infrastructure, enterprises, defence and education Institutions across South East Asia, Middle East and Africa.
“The past year, we have had remarkable success in winning extremely strategic customers, from diverse segments like banking, manufacturing, FMCG, airports, power SOCs and state Governments against some of the most vaunted global players in cybersecurity. With the rising incidence of state actors in advanced cyber terrorism, we are particularly focused on advancing our OT security products for CPS, which has only few global companies, for protecting critical infra national assets”, said WhizHack Co-founder & CEO Kallol Sil. “We value SAAA Capital’s continued trust in WhizHack. We will use the new capital to bolster our R&D efforts, in collaboration with top universities in the USA and India. We are poised to conduct our Series A fund raiser in early 2025 and some of the world’s biggest PEs have confirmed their participation, which will lead to WhizHack’saccelerated expansion into North America and Europe”, Mr. Sil added.
“SAAA is very thankful for having had the opportunity to partner and participate in WhizHack’s growth trajectory. WhizHack has delivered exceptional growth for us on back of their in-house developed suite of cyber security products and services that compete toe to toe with global players. WhizHack helmed by exceptional founders with complementary skill sets has in mere four years collaborated with institutions, Governments, companies, clients and now perching on the cusp of exponential breakout. We wish all the success for WhizHack as they head towards being a global champion.” said Mr. Ashish Patil, MD, SAAA Capital.
As per Mckinsey, damage from cyberattacks will amount to about $10.5 trillion annually by 2025—a 300 percent increase from 2015 levels. Critically, a 2022 Gartner study highlighted that cyber-attacks on organizations in critical infrastructure sectors have risen dramatically by 3900% between 2013 and 2020. Gartner security and risk leaders ranked Internet of Things (IoT) and cyber-physical systems (CPS) as their top concerns for the future.
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