We speak to the Alexandria-based startup about their pre-seed investment and what they're willing to do with it.
Egyptian cybersecurity startup Shieldfy has just scored an undisclosed amount of pre-seed investment from Arzan, a VC from Kuwait. Founded in 2016, Shieldfy protects web applications in real-time through its smart firewall and security reporting for developers.
"Before the investment we launched many MVPs to try to identify the right customer and then validate the need in hope to reach product market fit," Shieldfy's CEO and Co-Founder Eslam Mahmoud tells Startup Scene. "So, the investment will go to grow our team and to product development in order to reach more stable and perfect product."
Shieldfy works by being added in a digital application as software development kit (SDK), and after successful installation Shieldfy loads before the code and initialises its monitors and guards. After that, it monitors every request and analyses it through the application layers including files, databases, and memory. By that Shieldfy is able to detect and block any attack against the application and identify the possible causes.
The SDK also gives access to details about the attack such as full hacker profile; with their IP, browsers, operating system, request profile and the steps that the hacker may have used. Shieldfy currently follows an SaaS model charging subscription fee between $49 to $499 per month for the use of their services. They don't only have clients from the region, they are also hired by developers from United States, Canada, and Italy.
Main Image: Eslam Mahmoud, CEO and Co-Founder of Shieldfy. Courtesy of Shieldfy.
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