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Egypt-Based Cybersecurity Firm Buguard Completes Seed Fund
The investment round was led by MENA venture capital firm A15 and will help drive expansion into the GCC later this year.
Buguard, the Cairo-based offensive security and dark web monitoring company has announced the successful completion of a $500,000 seed funding round.
Fundraising was led by A15, one of the most prominent backers of early-stage startups in the MENA region, with participation from various other angel investors.
The $500,000 sum is Buguard’s first external investment, with the company having been bootstrapped since its launch in 2021. The funding injection will be used to grow the Buguard team and to expand further across the Gulf Coast Countries (GCC) later this year.
Youssef Mohamed, Buguard’s founder and Chief Technology Officer, said: “We are delighted to announce our fundraising, and I thank A15 for its great support. The world of dark web cyber threats is very real, dynamic, and growing. Any company can be a victim, and one must be prepared. We are already a global company, with clients across the world, but our immediate strategy is to grow even stronger in the GCC. We look forward to expanding into Saudi Arabia during 2023 and using our proceeds to help fulfill our significant growth potential”.
Since commencing operations, Buguard has helped many of Egypt’s leading businesses and developed a global client base spanning Saudi Arabia, the United States, France, Australia, and the United Kingdom.
Also Read: The Largest Data Breaches In The Middle East
The startup’s primary role is monitoring dark web marketplaces, hacking forums, underground channels, and private clouds to identify and neutralize data breaches across different venues. Buguard provides a wealth of security services, including penetration testing, phishing simulation, threat intelligence, and more. The company also offers a subscription-based SaaS product known as Dark Atlas that helps businesses prevent data breaches.
Founded in 2021, Buguard’s team comprises highly skilled security researchers and engineers. The company is renowned for exposing critical security vulnerabilities in tech giants, including Yahoo, PayPal, Twitter, Amazon, eBay, Microsoft, and even the U.S. Department of Defense.