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Topping off a stellar few months, including a US $5 million procurement agreement with Professtama in Indonesian, European expansion and, more recently, in Australia being awarded the prestigious ‘Consensus Innovation Award’, Australia’s only end-to-end cyber security products developer, Red Piranha, has this week announced the completion of its recent capital raise to the value of AUD $3 million.

Commencing at the end of March 2019 with assistance from its lead manager – Canary Capital, the raise initially sought AUD $2.52million, going to market with 14 million shares on offer, priced at 0.18 cents.

With the option to take over subscriptions, Red Piranha’s board recently met and have decided to accept an additional AUD $500k above its initial $2.5 million target, taking the total amount raised to AUD $3million or 16.7 million shares to be issued.

This latest capital raise sees Red Piranha’s valuation post cash at just under AUD $20 million.

The company began its journey back in October 2015 and now Red Piranha’s Crystal Eye is the world's most powerful Unified Threat Management (UTM) platform featuring the industry's first in-built gateway application whitelisting as well as email scanning, data loss prevention, advanced firewall technology and several other innovative features, that collectively provide exceptional security orchestration, automation and response.

To monitor and control sophisticated threats we need to move from traditional security measures and apply advanced threat detection and monitoring techniques. A Unified Threat Management (UTM) solution uses intelligent defence, adaptive analytics and integrated controls to detect and demolish the attacks in real-time.

Designed for Managed Service Providers (MSP’s) and their clients to defend against cyber-crime, the Crystal Eye platform provides a ‘plug and play’ solution that is both easy to use and affordable with proven security techniques and multiple layers of protection to keep data safe.

Red Piranha will utilise the funds to further commercialise Crystal Eye and to expand its sales and marketing teams to capitalise from the opportunities presented to the company both in the domestic and international markets.

Red Piranha is already working in partnership with organisations such as AustCyber – the Industry Growth Centre for Australia’s cybersecurity industry set up by the federal government initiative – to help increase Australia's national threat intelligence ecosystem.

Read more about Crystal Eye on Red Piranha’s website: https://redpiranha.net/

For more information on future investment opportunities, please contact Canary Capital https://canarycapital.com.au/
 

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Friday, May 31, 2019 By rayah.medina