Impact 46, a Saudi venture capital firm, has announced an investment of SAR 50 million (equivalent to more than USD 13.3 million) in Cipher, a cybersecurity company, as part of its pre-IPO funding round.
The investment aims to support Cipher’s growth and foster its technological innovations in both local and international markets.
Cipher provides a wide range of services, including risk assessment, penetration testing, security awareness training, threat detection, and rapid response and recovery services to ensure business continuity.
Founded in December 2018, Impact 46 specializes in investment management, focusing on emerging tech companies in Saudi Arabia and the Middle East.
The firm invests across multiple stages of company growth, from Seed stage to Pre-Series A, as well as Series A and beyond. Its investments range from USD 500,000 to USD 7 million, depending on the stage and targeted sector.
