News

AI-Powered Dark Web Monitoring Solutions Premier At GITEX 2021

MENA organizations are especially vulnerable because of their geopolitical position and importance to the world economy in several key industries.

Published

3 years ago

October 22, 2021

David Morelo

ai-powered dark web monitoring solutions premier at gitex 2021

The cybersecurity landscape has changed dramatically since the outbreak of the pandemic. Many organizations have embraced the hybrid work model as the new normal, allowing their employees to divide their work time between the office and home.

As a result, the traditional network perimeter has dissolved, leaving organizations more vulnerable to cyber threats, which are becoming not only more frequent but also more sophisticated. MENA organizations are especially vulnerable because of their geopolitical position and importance to the world economy in several key industries, such as the oil industry.

Recently, Los Angeles-based cybersecurity company Resecurity has introduced its Dark Web Monitoring and Threat Intelligence solutions at GITEX 2021, which took place at the Dubai World Trade Center, in the United Arab Emirates (UAE).

“Resecurity’s mission is to protect enterprises of any size, market vertical and in any geography,” said Ayman Alshobaki, Resecurity’s Business Development Manager for the MENA region. “Resecurity is excited to tap into the fantastic networking and innovative atmosphere at Gitex 2021, allowing us to build new business alliances and accelerate market presence and channel sales”.

Also Read: Japan Sets A New Internet Speed Record With 319 Terabits Per Second

The new solutions leverage big data analytics and artificial intelligence to provide visibility into the global threat landscape, helping organizations mitigate risks coming from the darkest corners of the internet, which are commonly referred to as the dark web.

The main defining feature of the dark web is the fact it’s completely invisible to most internet users because it can be accessed only using specialized software, such as Tor, which also provides anonymity, something cybercriminals value deeply.

Equipped with Resecurity’s Dark Web Monitoring solutions, organizations in the MENA region and the rest of the world are much less likely to suffer a costly data breach, whose average cost has reached $4.24 million per incident — the highest in the last 17 years.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.