Iziko2.0, a technology investment firm with backing from RMB Ventures, has acquired a minority share in cybersecurity startup Port443, for an undisclosed amount. The funding will be used to expand Port443’s reach further into the Middle East and Africa (MEA) region by adding key software development personnel and supporting marketing, sales, and product enhancements. This investment is significant as cybersecurity threats continue to increase, with 91% of organizations expecting increased security budgets in the next year. Port443 aims to tap into this global market more efficiently by providing at-a-glance views of the status of their security estate to help management and technical teams actively manage vulnerabilities and respond to breaches.
Iziko2.0 was founded to invest in selected platform-based industrial technology businesses that require access to capital and networks to grow. The consortium includes RMB Ventures and Mohao Equity Partners. RMB Ventures partners with companies and management boards to provide flexible equity and debt funding packages. Port443 is its first investment, with more expected in the future.
Port443 is a software development house that specializes in security automations and integrations. Its custom platforms and OneView dashboards give management and technical teams at-a-glance views of the status of their security estate to help them actively manage vulnerabilities and respond to breaches. The company currently services hundreds of firewalls for automated compliance, as well as a multitude of OneView dashboards from its head office in Johannesburg.
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Iziko2.0 target companies must have developed their own IP and deliver platform-based services that are globally relevant. The company chooses to invest in businesses that appeal to a specific vertical or a specific focus and deliver technology that assists enterprises in delivering their strategic business outcomes. Target company cultures must be agile and “appeal to the Iziko2.0 vision and culture.”
Overall, this investment is critical for the following reasons:
- Port443 aims to tap into the global market of increasing cybersecurity threats more efficiently.
- Iziko2.0, with backing from RMB Ventures, has a mandate to invest in selected platform-based industrial technology businesses that require access to capital and networks to grow.
- RMB Ventures partners with companies and management boards to provide flexible equity and debt funding packages.
- Iziko2.0 chooses to invest in businesses that deliver technology that assists enterprises in delivering their strategic business outcomes.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard