Ukrainian Cybersecurity Startup Attracted $11 Million of Investments

by Vladyslava Zhabrovets
Wednesday, October 20, 2021
Ukrainian Cybersecurity Startup Attracted $11 Million of Investments

Investments were received from the USA stage investment firms “Streamlined Ventures” and “Rembrandt Venture Partners”

As reported by the Tech Crunch edition and AIN, Ukrainian startup SOC Prime, which creates a platform for protecting enterprises from cyber threats, received round A investments. The SOC Prime team plans to channel funds to scale and accelerate its product rollout.

The startup describes its platform as "Spotify for Cyber ​​Threats." It allows users to manage information security and prevent cyber attacks. Currently, the platform has registered over 130 thousand threat detections.

The product brings together cybersecurity experts into a single community. The company pays a fee to security researchers every time their content is used. According to TechCrunch reports, In September 2021 they earned an average of $700. The best participants in the program may earn more than $20.000 per year.

SOC Prime plans to double its investment in the short term, and also quadruple its amount over the next 12 months.

“Our threat detection market is fueled by a wide variety of cyber threat hunting communities. We are committed to empowering them as they enable timely and effective detection. This helps enterprises adopt a collaborative defense approach to better combat digital threats,” said SOC Prime founder and CEO, Andriy Bezverkhyy.

In 2015, SOC Prime was founded by Ukrainians Andriy Bezverkhyy, Olexander Bredikhin and Ruslan Mukhalov to help organizations implement basic security practices and improve threat visibility amid a global talent shortage. The company is registered in Boston.

Over the past 12 months, the company has grown its premium subscriber base by 50%. At the same time, monthly income grew by 86%, and the active client base by 85%. In October 2021, SOC Prime counts over 6.000 client organizations and 300 employees. The office of the company is located in Kyiv.

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