SecuLetter, a Pangyo, South Korea-based email security technology company, raised USD$6m in Series B funding.
Riyadh Valley Company (RVC) and the Korea Development Bank (KDB Bank), both new investors, participated with the existing investor, the Korea Investment Partners.
The company, which received a corporate valuation of USD$36m, plans to use the funds to expand and enhance its AI security products, strengthen its R&D, to grow quickly in the Middle East market.
Led by Lim Chasung, CEO, SecuLetter provides security solutions which leverage technology that uses reverse engineering diagnostics to detect, analyze and block malicious code that seeks to enter in a non-executable file.
The source code of incoming files is analyzed and malicious code detected before the sleep mode regardless of whether the file executes or not. Since it analyzes and diagnoses at assembly level without waiting for execution, the solution blocks malicious code in document files that existing execution-based solutions are not able to detect. It also significantly shortens the diagnostic time and reception delay over those execution-based solutions.
The company’s solutions are used by BNK Busan Bank, KAMCO, KSD, KTCU, KEPCO E&C, Korea Post Information Center, and KISA.
SecuLetter is a member company of the Born2Global Centre.