Connect with us

News

TeamSec Secures Funding from Rasmal and Deniz

Published

on

Qatar’s Rasmal Ventures, one of Doha’s leading venture capital firms, and Deniz Ventures, the venture capital fund of DenizBank, established under the Emirates NBD Innovation Fund—the Corporate Venture Capital arm of Emirates NBD Group—and have jointly invested in TeamSec, the world’s first AI-powered securitization platform, transforming the structured finance industry through its innovative Securitization-as-a-Service platform.

With a total investment raise of $7.6 million, TeamSec aims to accelerate its growth operations, focusing on rapid expansion in the Middle East and North Africa (MENA) region. Additionally, TeamSec also aims to diversify its product and service portfolio and enhance current service offerings. Focused on accelerating the digital transformation of the financial sector, TeamSec is driving the creation of a more efficient and transparent financial ecosystem by digitizing securitization processes. Through its AI and data analytics-based solutions, TeamSec seeks to create critical value for investors and financial institutions.

Rasmal Ventures’ Co-Managing Partner, Alexander Wiedmer, said, “TeamSec’s bold vision to revolutionize the securitization industry across the Middle East and beyond resonates strongly with us. Their mission-driven, execution-focused team exemplifies the kind of ambition and innovation we are excited to support. Our investment, alongside Deniz Ventures, reflects our commitment to advancing fintech solutions that redefine traditional financial processes. By backing teams like TeamSec, with deep expertise in their field, we aim to accelerate digital transformation and fortify the regional financial ecosystem.”

Commenting on the investment, Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD said, “We recognize the immense potential securitization holds in supporting regional growth. Our recent strategic investment in TeamSec, a fintech innovator specializing in Securitization-as-a-Service, underscores our commitment to shaping this market and enabling its growth. We are the first investor in TeamSec, supporting the founder and team in their growth journey at an early stage.”

NEOHUB CEO Gürhan Çam highlighted that TeamSec’s technological infrastructure will lay the groundwork for stronger collaborations among financial institutions in the future and contribute significantly to the financial ecosystem. He stated, “Digital transformation in the fintech sector is no longer a luxury but a necessity. As DenizBank and NEOHUB, we aim to address the technological gaps in the field of securitization by collaborating with startups through our investment in TeamSec. We recognize that TeamSec’s innovations in securitization have the potential to set new industry standards.”

Emphasizing the role Emirates NBD’s Corporate Venture Capital arm played in driving this investment, Neeraj Makin, Group Head of Strategy, Analytics, and Venture Capital at Emirates NBD, said, “Emirates NBD’s Innovation Fund drives strategic investments in cutting-edge fintech startups like TeamSec, enabling us to deliver tailored solutions that align with our vision of being the most innovative bank for our customers. As the industry evolves, the fund ensures we stay ahead of disruptive trends while enhancing the digital experience for our clients.”

Esad Erkam Köroğlu, Founder and CEO of TeamSec, highlighted that this strategic investment from Deniz Ventures combined with the VC mindset and experience of the Rasmal Ventures’ team, is a key enabler in achieving the company’s vision, “The investment we received from ENBD and Rasmal Ventures demonstrates the trust placed in TeamSec’s vision and technological prowess by these renowned institutions. At the same time, this investment round supports our mission to revolutionize the securitization market, positioning TeamSec as a leader in the fintech sector as well as in the securitization market, particularly in the MENA region. With this investment, we endeavour to strengthen our position as a global game-changer in the field of securitization.”

Both Emirates NBD and Deniz Ventures remain committed to investing in fintech and technology-driven startups, driving innovation and digital transformation in the financial sector. Building on prior investments such as Erguvan in 2023 and NewBridge Fintech Solutions, their support for high-growth startups like TeamSec highlights their dedication to shaping a sustainable, tech-enabled future in finance. The TeamSec deal was worked on by Soumaya Ben Beya Dridje, Partner at Rasmal Ventures and the legal advisors were BTS & partners.

Continue Reading

News

Sophos Completes Secureworks Acquisition

Published

on

Sophos and Secureworks have announced the completion of Sophos’ acquisition of Secureworks. The all-cash transaction values Secureworks at approximately $859 million. With the completion of the acquisition, Secureworks’ common stock has ceased trading on Nasdaq. Thoma Bravo, a leading software investment firm, backs Sophos.

With this acquisition, Sophos is now the leading pure-play cybersecurity provider of Managed Detection and Response (MDR) services, supporting more than 28,000 organizations of all sizes worldwide. The combination will enable Sophos to deliver an unparalleled security operations platform, featuring hundreds of built-in integrations for adaptive protection, detection and response for mitigating cyberattacks. The open and scalable platform helps organizations, especially those with diverse IT estates, safeguard current and future technology investments, providing greater operational efficiencies and return on cybersecurity spend. Sophos X-Ops is also expanding its threat intelligence and security services capabilities by adding the Secureworks Counter Threat Unit and security operations and advisory teams.

As a channel-first cybersecurity provider, Sophos remains unwavering in its commitment to delivering cutting-edge security services and technologies that empower our global community of resellers, Managed Service Providers (MSPs) and Managed Security Services Providers (MSSPs). This includes expanding their reach, enhancing operational scalability and providing stronger defences to the countless organizations that need the ability to effectively defend against today’s constant and complex cyberattacks.

“The market is embracing MDR as a clear means to deliver positive cybersecurity outcomes, and this has meant rapid growth in the category,” said Joe Levy, CEO, Sophos. “Sophos is differentiated by our very mature competencies in ransomware detection, malware analysis and threat actor tradecraft. These defences are further augmented by Sophos’ native artificial intelligence (AI), first innovated by our globally peer-recogniwed AI team nearly a decade ago, and embedded in our MDR, endpoint, network, email, and cloud security to more effectively neutralize and stop threats. With the integration of Secureworks, our expanded services and product portfolio will provide even stronger end-to-end security solutions that will include identity threat detection and response (ITDR), next-gen SIEM and managed risk, all in a single open platform. We will also be able to further advance our AI, threat intelligence and attack research through more diverse and deeper global telemetry that is analyst-tuned for the real world. At every level, we are very excited about this next accelerated chapter for Sophos.”

In the near term, Sophos and Secureworks are operating business as usual, working with our respective channel partners, MSPs and MSSPs worldwide to distribute our existing security services and technology. Both companies’ sales and customer experience groups will operate to support existing customers, assist with renewals and develop current and new business opportunities. Sophos protects more than 600,000 customers worldwide with its portfolio of MDR, endpoint, network, email, and cloud security solutions that integrate and adapt to provide real-time defence through the Sophos Central platform.

Under the terms of the agreement, Sophos acquired Secureworks in an all-cash transaction valued at approximately $859 million. Secureworks shareholders, including Dell Technologies, will receive $8.50 per share in cash. This represents a 28% premium to the unaffected 90-day volume-weighted average price (VWAP). Kirkland & Ellis LLP acted as legal counsel to Sophos, Goldman Sachs & Co. LLC., Barclays, BofA Securities, HSBC Securities (USA) Inc., and UBS Investment Bank acted as financial advisors and provided debt financing for the transaction. Piper Sandler & Company and Morgan Stanley & Co. LLC acted as financial advisors to Secureworks, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel.

Continue Reading

Artificial Intelligence

DeepSeek Popularity Exploited in Latest PyPI Attack

Published

on

The Supply Chain Security team at Positive Technologies’ Expert Security Center (PT ESC) discovered and neutralised a malicious campaign in the Python Package Index (PyPI) repository. This attack was aimed at developers, ML engineers, and anyone seeking to integrate DeepSeek into their projects.

The attacker’s account, created in June 2023, remained dormant until January 29, when the malicious packages deepseeek and deepseekai were registered. Once installed, these packages would register console commands. When these commands were executed, the packages began stealing sensitive user data, including information about their computers and environment variables often containing database credentials and access keys to various infrastructure resources. The attackers used Pipedream, a popular developer integration platform, as their command-and-control server to receive the stolen information.

Stanislav Rakovsky, Head of Supply Chain Security at PT ESC, explained, “Cybercriminals are always looking for the next big thing to exploit, and DeepSeek’s popularity made it a prime target. What’s particularly interesting is that the malicious code appears to have been generated with the help of an AI assistant, based on comments within the code itself. The malicious packages were uploaded to the popular repository on the evening of January 29.”

Given the heightened interest in DeepSeek, this attack could have resulted in numerous victims if the malicious activity had gone unnoticed for longer. Experts at Positive Technologies strongly recommend being more attentive to new and unknown packages.

Continue Reading

Artificial Intelligence

SentinelOne to Spotlight AI-Driven Cybersecurity at LEAP 2025

Published

on

SentinelOne has announced its participation at LEAP 2025, alongside its distributor, AlJammaz Technologies. The company will showcase its AI-powered cybersecurity solutions including advanced EDR, XDR, and ITDR solutions designed to deliver autonomous protection against evolving cyber threats.

SentinelOne’s solutions align with the Kingdom’s strategic priorities by offering proactive AI-driven protection for critical infrastructure, enterprises, and government entities. The company’s Singularity platform, known for its real-time, AI-driven threat detection, response, and prevention, will be at the centre of its presence at the exhibition. The platform enables enterprises to protect their endpoints, cloud environments, and identity layers, allowing them to innovate confidently amidst evolving cyber threats.

Speaking on their participation, Meriam ElOuazzani, Senior Regional Director, META at SentinelOne, said, “Cybersecurity remains central to progress with Saudi Vision 2030’s digital leadership and economic goals, and our solutions empower businesses to outpace evolving threats and fuel growth. By participating at LEAP, we aim to engage with key stakeholders in the tech ecosystem, explore new partnerships, and demonstrate how our solutions are reshaping workforce capabilities and the future of digital resilience.”

SentinelOne’s AI strategy focuses on delivering autonomous, real-time protection by leveraging machine learning and behavioural AI. This ensures businesses can detect, mitigate, and remediate cyberattacks faster and more effectively than traditional solutions. Senior executives from SentinelOne will be onsite at the AlJammaz Executive Lounge in Hall 1 to share insights on AI-driven security strategies and the future of autonomous cybersecurity. Visitors can also experience live demonstrations of the Singularity platform.

Continue Reading
Advertisement

Follow Us

Trending

Copyright © 2021 Security Review Magazine. Rysha Media LLC. All Rights Reserved.