Riyadh - Sharikat Mubasher: SpiderSilk, the GCC’s first cyber-AI startup, announced signing a Memorandum of Understanding (MOU) with Sirar, the cyber arm and managed security service provider (MSSP) of STC Group (Saudi Telecom Company).
The signing took place at Black Hat - the leading cybersecurity event – paving the way for a full technology partnership between the two entities, as per a recent press release.
The MOU aims to bolster 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.
Under this MOU, SpiderSilk is going to launch 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-develop 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.
