Partnership to boost SpiderSilk’s market presence in Saudi Arabia and strengthen cybersecurity for Sirar’s customer base
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Agreement follows rapid growth for SpiderSilk: 5x revenue growth in the last 20 months and global expansion
Riyadh, Saudi Arabia, December 5, 2024: SpiderSilk—the GCC’s first cyber-AI startup—has signed a Memorandum of Understanding (MOU) with Sirar, the cyber arm and managed security service provider (MSSP) of STC Group (Saudi Telecom Company).
The MOU was signed at Black Hat—the leading cybersecurity event—and is a foundation for a full technology partnership between the two entities.
The MOU will enable SpiderSilk to package its flagship product—Resonance—with some of Sirar’s managed services, thus increasing the continuous external exposure capabilities Sirar can offer to its ecosystem of customers, improving their overall cybersecurity.
As part of the MOU, SpiderSilk is rolling out a suite of new products—including autonomous agents to support security operations functions at scale—which will also be used in the partnership.
The MOU will strengthen the market presence in Saudi Arabia of SpiderSilk—which is now also headquartered in the country—and enable the company to build new capabilities and IP together with Sirar.
Rami El Malak, CEO and Co-Founder of SpiderSilk, commented:
“We are delighted to sign this MOU with such a progressive partner, Sirar. We are committed to working closely together and to co-developing bespoke cybersecurity technology in order to provide the strongest security to Sirar’s customer base. Sirar recognizes the importance of aligning with innovative technology builders. Having regional, sovereign IP is more significant than ever. We are delighted to be contributing to this mission.”
The MOU announcement follows a significant growth period for SpiderSilk since its last funding round from Global Ventures, Wa’ed, and STV. The company has grown revenues by 5x and is the first cyber-AI product company from the Gulf to go global, with over 50% of its revenue originating from North America.
Other operational highlights include SpiderSilk’s new R&D centers in the UAE and Saudi Arabia, which are helping create high-skilled jobs in cybersecurity and AI research.
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