Saudi venture capital firm Impact46 has announced a strategic pre-IPO investment of SAR 50 million (over $13.3 million) in Cipher, a Saudi-based cybersecurity startup. This investment underscores Impact46’s commitment to fostering technological innovation and growth in Saudi Arabia while positioning Cipher to expand its local and global footprint.
Cipher is a leading cybersecurity company that provides comprehensive solutions to address evolving cyber threats. Its services include risk assessment, penetration testing, security awareness training, threat detection, and rapid incident response. These offerings are designed to ensure robust business continuity for organizations across various sectors.
Founded in December 2018, Impact46 has established itself as a key investment manager in Saudi Arabia, focusing on alternative investments in technology-driven startups. The firm targets the Kingdom and the broader Middle East, aiming to empower emerging businesses with the resources and expertise needed for sustainable growth.
Impact46 invests across various stages of a company’s lifecycle, starting from Seed and pre-Series A to Series A and beyond. The firm provides funding ranging from $500,000 to $7 million, depending on the company’s stage and sector. This flexible approach enables Impact46 to support a diverse portfolio of startups, driving innovation and economic development in the region.
The investment in Cipher aligns with Saudi Arabia’s Vision 2030, which emphasizes digital transformation and cybersecurity as critical pillars of national development. With Impact46’s backing, Cipher is well-positioned to scale its operations, enhance its technological capabilities, and contribute to a more secure digital landscape.
This milestone represents a significant step forward for Saudi Arabia’s burgeoning startup ecosystem, highlighting the growing role of venture capital in driving innovation and entrepreneurship across the region.
