Quick Heal Technologies Limited, an IT security and data protection solutions provider for consumers, businesses, and government, has signed an agreement to invest $2 million in Israel-based cybersecurity startup L7 Defense.
L7 specialises in application program interface (API) security and next-generation web application firewall (NG-WAF). Quick Heal Technologies had invested $300,000 in L7 Defense in the previous financial year.
“This investment (by Quick Heal) is strategic and will enable us to further extend our technological leadership, to increase our exposure and gain further market awareness,” said Yisrael Gross, Co-Founder, L7 Defense. Stating tha the firm had been energised with support from Quick Heal Technologies, he likened the investment to a vote of confidence and that that it reinforced his company's resolve to become the API security leader in an extremely dynamic market.
Since Quick Heal’s previous investment, L7 Defense has acquired customers in financial, telecom and IT industries across the US and Europe. The investment enables strategic alignments between both the companies. This would help Quick Heal to expand its range of enterprise solutions under the ‘Seqrite’ umbrella and introduce L7’s flagship products in India as well as other regions in APAC (Asia-Pacific) and EMEA (Europe, Middle East, and Africa).
"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,” said Kailash Katkar, managing director and chief executive of Quick Heal Technologies. “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.”
This is Quick Heal’s third investment during the past 18 months and augments its commitment to secure the digital transformation journey of its customers. Quick Heal had recently invested in Singapore based Ray Pte Ltd.