SINGAPORE-BASED cyber security firm MicroSec said on Tuesday that it has completed its Series A round of financing, bringing its total funding to US$3.2 million.
Global venture capital firm MassMutual Ventures (MMV) led the investment round, with participation from existing investors, including Wavemaker Partners and SEEDS capital.
The funding will enable the firm to "expand its technical capabilities, sales and marketing efforts, as well as broaden and accelerate product development", the startup said.
MicroSec's clients and partners include Singapore government agencies such as the Cyber Security Agency of Singapore (CSA) and the Government Technology Agency (GovTech), as well tech players like Honeywell and Infineon Technologies.
Vishram Mishra, chief executive officer and co-founder of MicroSec, noted that this round of fundraising is "well-timed to meet the market demands of the Internet-of-Things technology and cyber security fears that have been plaguing enterprise organisations in a post-pandemic world".
He added that the firm has made key executive appointments to grow its leadership team and plans to double its headcount this year across all departments.
MMV invests in multistage tech companies in fintech, digital health, cyber security and enterprise software. MMV's managing director Ryan Collins will join MicroSec's board of directors.