Quick Heal Technologies invests $2mn in Israel’s L7 Defense

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Quick Heal Technologies invests $2mn in Israel’s L7 Defense

Security solutions provider Quick Heal Technologies on Thursday said it has signed an agreement to invest USD 2 million (about Rs 14.6 crore) in Israel-based L7 Defense.

Quick Heal Technologies had invested USD 300,000 (about Rs 2.19 crore) in L7 Defense in the previous financial year, a statement said.

L7 Defense is a cybersecurity start-up specialising in Application Program Interface (API) Security and Next Generation Web Application Firewall (NG-WAF).

Since Quick Heal’s previous investment, L7 Defense has acquired customers in financial, telecom and IT industries across US and Europe, the statement said.

”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 (Asia Pacific) and EMEA (Europe, Middle East and Africa),” it added.

This is Quick Heal’s third investment in the last 18 months. In addition to L7 Defense, Quick Heal had recently invested in Singapore based Ray Pte Ltd, the statement noted.

”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 NGWAF which led us to further increase our investment,” Quick Heal Technologies Managing Director and CEO Kailash Katkar said.

Simultaneously, this move enables ‘Seqrite’ to foray into application security and strengthen the company’s solution stack to secure modern enterprises against the next-generation of cyber-attacks, he added.

”This investment is strategic, and will enable us to further extend our technological leadership, to increase our exposure and gain further market awareness,” Yisrael Gross, co-founder of L7 Defense, said.

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