Cipher
Saudi cybersecurity company offering risk assessment, penetration testing, security awareness training, threat detection and incident response. Impact46 announced a SAR 50 million (about USD 13.3 million) pre-IPO investment in November 2024.
Industry: Cybersecurity services | Location: Saudi Arabia | Founded: 2018 | Total Funding: USD 13.3M
About Cipher
Cipher is a cybersecurity company based in Riyadh, Saudi Arabia. Its services cover risk assessment, penetration testing, security awareness training, threat detection, and rapid response and recovery to keep businesses running after an incident. Mubasher and Wamda name Thamer ALDhafiri as its founder, and CB Insights lists him as chief executive with Saleh Almatrafi as chief technology officer. Sources differ on when it was established: Wamda and Mubasher say 2018, while CB Insights gives 2021. In late November 2024 the Saudi investment firm Impact46 announced a SAR 50 million investment, about USD 13.3 million, in Cipher, described as a pre-IPO round. The deal was secured during the Black Hat MEA 2024 conference in Riyadh. The announcement said the capital would support Cipher's expansion and technology development in Saudi Arabia and internationally. It did not say whether the investment was structured as equity or debt, or whether other investors took part. Impact46 is a Saudi investment manager and arranger that invests from seed to pre-Series A and beyond, with a portfolio weighted toward Saudi-based ventures. The investment came as Saudi Arabia stepped up funding for the security sector. At the fourth edition of Black Hat Middle East and Africa in Riyadh, the Ministry of Investment announced more than SR 500 million, roughly USD 133 million, in new cybersecurity funding, and the National Cybersecurity Authority runs its own accelerator and entrepreneurship programs.
Leadership
- Thamer ALDhafiri, Founder and Chief Executive