• Saudi Arabia-based cybersecurity startup Cipher has raised $13.3 million in a pre-IPO investment round from Impact46.
• Founded in 2018 by Thamer ALDhafiri, Cipher provides a range of services, including risk assessment, penetration testing, security awareness training, threat detection, rapid response and recovery to ensure business continuity.
• This investment will support Cipher’s growth to become a global cybersecurity player.

Press release:

Saudi venture capital firm Impact46 has announced a pre-IPO investment of SAR50 million (over $13.3 million) in the Saudi Arabia-based cybersecurity startup Cipher.

Impact 46’s investment aims at supporting Cipher’s growth and technological innovations locally and globally.

Cipher is a Saudi company specialising in cybersecurity. It provides a wide range of services, including risk assessment, penetration testing, security awareness training, threat detection, rapid response and recovery to ensure business continuity.

Impact46 was founded in December 2018 in Saudi Arabia as an investment manager. It focuses on alternative investments in Saudi Arabia, specifically in tech-enabled startups in the Kingdom and the broader Middle East.

Impact46 invests at different stages of companies, starting from Seed to pre-Series A, and continues to invest in Series A and beyond. Investments range from $500,000 to $7 million, depending on the stage and the targeted sector.