Ayehu is pleased to announce the company’s recently featured interview in Mergermarket, the leading provider of forward-looking M&A intelligence and data to M&A professionals and corporates around the world.
In anticipation of the company’s plans to close a Series B round of fundraising over the coming few months, Ayehu’s CEO and founder Gabby Nizri sat down with Mergermarket’s Chris Metinko to discuss the details.
The ultimate goal is to raise enough capital to facilitate entry into the cloud as well as extend the company’s machine learning capabilities. In order to achieve these goals, the new round must raise between $10 million and $15 million.
This latest move comes as part of the company’s ongoing shift from general IT process automation to a more targeted focus on the sector of automated cybersecurity incident response. This shift has resulted in revenue growth of 250% in 2016 alone and the company has officially reached the point of breakeven cash flow. Today Ayehu serves over 150 enterprise-level customers and growing.
In order to fulfill this round of funding, which could close as early as March, a new lead investor will likely be needed. A strategic partnership in either the managed service provider or security realm may also be a possibility. The company has been receiving inbound inquiries on this even before deciding to officially seek this latest round.
In terms of competition, Nizri pointed out in his interview that there are several different angles to consider. From the general IT automation perspective, the company competes with such well-known brands as ServiceNow, Hewlett-Packard and BMC Software. From the cybersecurity angle, the main players include IBM, FireEye, Phantom and Hexadite. Additionally, there are the competitors who also feature embedded tools, such as Microsoft, VMware and CA Technologies.
According to the Mergermarket interview, Nizri mentioned the fact that the company will also continue to keep its options open for a potential exit down the road. To date, Ayehu has raised approximately $6 million in funding.