A cybersecurity AI business called SpiderSilk from Dubai is making substantial advancements in the quickly developing field of cyber protection.
According to a Wamda report, the company reported a successful $9 million investment round led by Wa’ed Ventures, Aramco’s $500 million venture capital fund based in the Kingdom. Global Ventures and STV both actively participated in the financing.
SpiderSilk is primarily focused on solving the most important cybersecurity problems. The company, which was founded in 2019 by Mossab Hussein and Rami El Malak, provides cutting-edge continuous detection technologies together with an inventive AI-powered cyber defense platform.
The funds from this investment will be used to increase SpiderSilk’s cyber security product capabilities in Saudi Arabia in order to meet the region’s burgeoning demand for superior cybersecurity solutions.
“While the GCC is an essential technology market, there’s barely any IP being developed in the area for the geographical area and beyond, and we feel that it is becoming increasingly important to accomplish independence in this field for the advantage of both private and public organizations,” stated SpiderSilk CEO that Rami El Malak in regards to the importance of this achievement.