IMS Digital Ventures announced the closing of a US$ 1.5M pre-seed round of OwlGaze in which it acted as the lead investor. OwlGaze offers companies an end-to-end predictive threat detection solution to identify, prioritise and prevent cyber attacks using advanced correlation and AI technology.
Globally, companies ranging from small startups to large enterprises are increasingly affected by cyber threats and they struggle to keep up. “We do not only see a growth in the number of businesses that are targeted by cyber criminals, the attacks have become more and more sophisticated and the financial and operational impact that a successful attack can have, has increased as well,” according to Ralph Chammah, CEO of OwlGaze.
“At the same time, the cybersecurity software market is highly fragmented and opaque for most clients. There is very limited cooperation between software vendors in the industry and many claims about the intelligence and effectiveness of various solutions are exaggerated at best. This was the reason why we started OwlGaze,” Chammah says.
Apart from OwlGaze’s cyber advisory practice which guides clients through any cyber-related issues, what makes OwlGaze really stand out is its software, Blacklight. Blacklight, which works seamlessly with other existing solutions within a client’s tech stack, uses all available data points to continuously detect, prioritise and act upon attempted malicious activities. Blacklight’s low costs, truly predictive and proactive nature and scalable architecture are unique features in the industry.
“We were really impressed by the team’s experience in the cybertech market and their real-life knowledge of the possibilities and limitations of the existing solutions. In an industry that is full of buzzwords, the OwlGaze team is developing an advanced data collection and AI analytics platform that continues where other vendors stop: detecting and acting upon attacks when or even before they happen,” according to Anastasios Papadopoulos, CEO of Integrated Management Systems (IMS) and IMS Digital Ventures.
“There are a lot of synergies with our in-house capabilities such as AI, data engineering, and infrastructure. We see great potential for OwlGaze and we are proud to back such a strong and innovative team in an increasingly important market.”
Earlier this month, OwlGaze successfully closed a US$ 1.5M pre-seed round, which was led by IMS. Other investors included the OwlGaze management team, a European family office and angel investors.