Security Market Segment LS
Friday, 13 March 2020 12:12

Singapore’s Right-Hand raises US$1 million to accelerate cybersecurity development

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Singapore-based cybersecurity firm Right-Hand has raised US$1 million in seed funding, with the funds to be used to accelerate the company’s product development.

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”.

“Organisations are introducing new technologies, communication channels, and remote-work flexibility into their business, and therefore, are also introducing new opportunities for cyber criminals to exploit. 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.

“The human aspect is often overlooked. Right-Hand is a pioneer in providing solutions to mitigate human-caused cyber-risk. Our investment in Right-Hand is also a complementary addition to our portfolio of other cybersecurity-related investments.”

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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