SecuLetter Co., Ltd, a Seoul, South Korea-based information security company, closed US$8m in Series B funding.
This included US$2m from UTC Investment in late February, three months after raising US$6m in November 2019. This brings SecuLetter’s total funding to US$10.02m. The valuation is estimated to be US$38 million.
The round led Riyadh Valley Company (RVC), a Saudi Arabian venture capital firm, KDB Bank (Korea Development Bank), Korea Investment Partners (KIP), and UTC Investment.
The company intends to use the funds to expand its product lineup, develop products that incorporate AI-based malware detection and CDR(Content Disarm & Reconstruction), and strengthen its R&D capabilities.
Led by Lim Chasung, CEO, SecuLetter is an information security company that develops and provides products that detect, diagnose, analyze and block malicious code attacks that are difficult to diagnose by signature and behavior-based security solutions using proprietary reverse engineering diagnostic technology.