The fourth investment of the EOS Hellenic Renaissance Fund, one of the three Growth Funds of EquiFund, managed by EOS Capital Partners, headed by Apostolos Tamvakakis, in the Cyber Security company Obrela Security Industries was successfully completed.
Obrela Security Industries was founded in 2009 in Athens by Georgios Patsis and Georgios Daglas, is managed by the former and is active in the provision of Cyber Security Services (Cyber Security Services) with customers from all sectors of economy in more than 8 countries (Greece, Germany, Great Britain, Saudi Arabia, United Arab Emirates, Cyprus, Jordan, Philippines).
The company’s business and Research and Development (R&D) department is located in Athens employing more than 50 specialized people while also maintaining a dynamic presence in London and Dubai to promote the services and serve its international clients who contribute more than 80% of the sales.
Obrela Security Industries in its ten-year course and especially in recent years has achieved significant growth and profitability rates with zero lending while maintaining high levels of liquidity. Specifically in the last three years its sales and its profitability have tripled, signing significant contracts with large clients / companies in competitive international markets such as those of Germany and Great Britain. For 2020, the company’s profitability at EBITDA level was expected to be around 2.0 million euros.
The company has also received significant international awards in the field of Cybersecurity services (“European Noteable MSS Vendor_Gartner 2019”, “Editor’s Choice MDR Award in Cyber Defense Magazine ‘s_Cyber Defense Global Awards 2018 ”) and ISO certifications for its services and operating structure.
With the contribution of EOS fund the company’s investment plan in Research & Development (R&D) will be further reinforced and is mainly related to Obrela’s innovative software, “THE SWORDFISH PLATFORM”, the sales department in Greece and abroad will be significantly developed with necessary staffing by teams of engineers at pre and aftersales level and the necessary resources will be available for the more effective promotion of the company’s services through the reinforcement of the marketing department.
It is noted that Obrela Security Industries operates in the rapidly growing market of Managed Detection and Response Services (MDR), with annual growth rates of over 20%, which are expected to accelerate in the post–Covid era due to the urgent need for cybersecurity in the new teleworking models which are tested by businesses. This specific MDR Services market is the most dynamic sub-sector of the global Cyber Security Services (total size of $ 64 billion for 2020 according to Gartner).
