iTWire - Singapore’s Right-Hand raises US$1 million to accelerate cybersecurity development
Summary
The Seed round was led by Atlas Ventures, a Singapore-based early stage Venture Capital fund, with participation by SGInnovate, an investment firm backed by the Singapore Government, and Entrepreneur First, a talent investor that provides expertise to individuals to develop technology companies. Theo Nasser, CEO, Right-Hand said, “A company’s employee workforce is typically their biggest asset, but when it comes to cybersecurity, the workforce can also be their biggest liability”. “There is a massive gap between what most employees know about cybersecurity, and their day to day behaviours online that inflict immense cyber risk for themselves and their employer. Right-Hand aims to bridge that gap.” Nasser said that with customers already within the government and financial sectors across South East Asia and Australia, Right-Hand sees their market opportunity growing in parallel with the “evolving and broadened cyber threat landscape”. Right-Hand helps organisations mitigate these risks that are associated with employee online behaviour.” Lead investor Atlas Ventures’ Investment Director Maxim Shkvaruk said: “Although humans present one of the biggest loopholes in cybersecurity, much of the focus from both investors and corporates alike have been on various technical solutions like threat detection systems, firewalls and such.
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