A pre-IPO investment of SAR50 million (more than $13.3 million) has been announced by Saudi venture capital firm Impact46 in the cybersecurity startup Cipher, based in Saudi Arabia.
The goal of Impact 46’s investment is to help Cipher expand and develop its technology both domestically and internationally.
A cybersecurity company based in Saudi Arabia is called Cipher. Among the many services it offers are threat detection, security awareness training, penetration testing, risk assessment, quick response, and recovery to guarantee business continuity.
In December 2018, Impact46 was established as an investment manager in Saudi Arabia. In particular, it focuses on tech-enabled startups in the Kingdom and the wider Middle East as an alternative investment opportunity in Saudi Arabia.
From Seed to pre-Series A, Impact46 makes investments in businesses at various stages. It then moves on to Series A and beyond. $500,000 to $7 million can be invested, depending on the stage and industry.
