Quick Heal Technologies makes USD 2 million strategic investment in Israel based L7 Defense
The move is a reflection of Quick Heal’s commitment to support innovative cybersecurity startups and strengthen its solutions stack for enterprise customers
Pune, January 14, 2021: Quick Heal Technologies Limited, one of the leading providers of IT Security and Data Protection solutions for consumers, businesses, and government, has signed a definitive agreement to invest USD 2 million in L7 Defense. L7 is an Israel based cybersecurity start-up specializing in Application Program Interface (API) Security and Next Generation Web Application Firewall (NG-WAF). Quick Heal Technologies had invested USD 300k in L7 Defense in the previous financial year.
According to Gartner, by 2021, 90% of web enabled applications will be exposed to attacks due to API weaknesses, up from 40% of the apps in 2019. Hence, API Security has become one of the top cybersecurity concern for enterprises. L7 Defense’s proprietary AI powered Ammune™ technology provides protection against a range of attacks targeting APIs like distributed denial of services (DDOS), BOT attacks and other malicious threats helping customers secure their applications.
Since Quick Heal’s previous investment, L7 Defense has acquired customers in financial, telecom and IT industries across US and Europe. Moreover, the investment enables strategic alignments between both the companies for Quick Heal Technologies to expand its range of enterprise solutions under the ‘Seqrite’ umbrella and introduce L7’s flagship products in market stronghold of India as well as other regions in APAC and EMEA.
The investment reiterates Quick Heal’s ongoing efforts to invest in disruptive technologies that will shape the future of cybersecurity while supporting innovative start-ups.This is Quick Heal’s third investment in the last 18 months and augments its commitment to secure the digital transformation journey of its customers. In addition to L7 Defense, Quick Heal had recently invested in Singapore based Ray Pte Ltd.
Dr. Kailash Katkar, Managing Director and Chief Executive Officer, Quick Heal Technologies, said, " At Quick Heal Technologies, we are always on the lookout for right investment opportunities by evaluating new platforms and technologies that enable us to support the digital transformation journey of our customers. L7 Defense has proven its unique capabilities in the area of API Security and NG-WAF which led us to further increase our investment. Simultaneously, this move enables ‘Seqrite’ to foray into application security and strengthen our solution stack to secure modern enterprises against the next-generation of cyber-attacks.”
Yisrael Gross, Co-Founder, L7 Defense, said," We are delighted to strengthen and further solidify our relationship and bond with Quick Heal Technologies. This investment is strategic, and will enable us to further extend our technological leadership, to increase our exposure and gain further market awareness. We are thrilled and energized to have support from Quick Heal Technologies. This vote of confidence reinforces our resolve and motivation to become the API security leader in this extremely dynamic market."
About Quick Heal Technologies Ltd:
Quick Heal Technologies Limited is one of the leading providers of IT Security and Data Protection Solutions with a strong footprint in India and an evolving global presence. Incorporated in the year 1995, with a registered office in Pune, it is an all-round player in cybersecurity with presence in B2B, B2G and B2C segments across multiple product categories – endpoints, network, data and mobility.
With its state-of-the-art R&D centre and deep intelligence on the threat landscape, Quick Heal helps in simplifying security by delivering the best in class protection against advanced cyber-attacks. Its portfolio includes solutions under the widely recognized brand names ‘Quick Heal’ and ‘Seqrite’ across various operating systems and devices.
For more information, please visit: www.quickheal.co.in
About L7 Defense:
L7 Defense is an API security startup company. Its Ammue™ solution actively protects APIs and API-based applications from related threats, while utilizing unsupervised, innovative AI/ML technology. Ammune™ solution was recognized by Frost & Sullivan as leading the API Security market and is known for its unsurpassed automation, superior threat coverage while keeping normal traffic undamaged. It is deployed at financial, telecom and SaaS sectors in North America, Europe, and APAC.
For more information about L7 Defense and its products, visit: www.L7Defense.com