Exosphere Labs announced on the 7th that it has secured Series A funding. This investment was led by Mirae Asset Capital, and the specific amount was not disclosed. Exosphere Labs plans to use this funding to strengthen its marketing efforts in the domestic market, expand into the Japanese market, and launch a new security plan within the year.
Exosphere Labs offers an integrated security service, Exosphere, featuring malware detection, ransomware defense, and information leak prevention capabilities. Currently, over 8,000 organizations have signed up. Offered as a SaaS (Software as a Service), Exosphere is recognized for its user-friendliness and robust security capabilities.
Jinwoo Lee, Senior Manager at Mirae Asset Capital, emphasized, "Exosphere Labs possesses the technological prowess to lead the security market's transition from on-premise to cloud. It also meets the needs of local solutions in Korea and has the potential to become a 'Korean CrowdStrike.'" He added, "Key factors in this investment decision were its outstanding SaaS metrics and annual recurring revenue (ARR) growth rate of over 100%."
Exosphere Labs plans to use this investment to strengthen its marketing efforts targeting domestic corporate clients and to make a full-scale entry into the security-conscious Japanese market.
Park Sang-ho, CEO of Exosphere Labs, said, “This investment is a significant stepping stone to accelerate our growth in the global security market. We will create a new standard for security solutions through a zero-trust security model that is easily accessible to small and medium-sized businesses, along with expanding into domestic and international markets.”
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