East Ventures Leads Peris.ai Cybersecurity Startup Funding

Local cybersecurity startup Peris.ai has secured new funding led by East Ventures. Magic Fund participate in this fund. Peris.ai offers products and services that aim to ensure the safety and security of data, as well as digital infrastructure in Indonesia and the Asia Pacific region.

It is planned that the fresh funds obtained will be focused on building and improving its cyber security platform, enhancing artificial intelligence capabilities (artificial intelligence/AI) and machine learning, as well as fostering a community of hackers (hacker) ethical.

Peris.ai Co-Founder & CEO David Samuel is the former Co-Founder & CTO Ritase. He founded Peris.ai with former Cybersecurity Head at the same company, Deden Gobel, who currently serves as CTO of Peris.ai. Both of them have proven experience and expertise in the technology industry, especially in cybersecurity.

Shield offers 4 main products namely Pandava, Korava, Bima, and Ganesha. Each feature offers a different solution. One of them is Korava who provides platform enterprise security vulnerabilitiesplatform bounties) backed by ethical hackers, continuous monitoring and protection of networks, systems and data, as well as incident response and recovery services.

In addition, the company also integrates AI and machine learning to enable more efficient and effective protection as systems can continuously learn and adapt to new threats. Use of AI and machine learning enabling analysis and interpretation of massive data, providing richer information and more personalized recommendations.

Currently, the solution offered by Peris.ai is subscription-based with a Starter package costing $350/month and a Pro package priced at $413/month. Meanwhile for the Enterprise package, the price levels will vary depending on the needs of the organization. The company also provides dedicated SaaS-based platforms for high-risk industries and companies with complex IT infrastructures.

The company's mission is to connect organizations with independent IT security researchers around the world on a single platform with one goal in mind, to provide a more secure digital environment. Several companies that have used Peris.ai services include Xfers, CrediBook, Fita, and others.

Co-Founder and Managing Partner of East Ventures Willson Cuaca revealed, "An organization's security level is only as strong as its weakest point. This requires a holistic approach, including relevance to the local market. We believe Peris.ai builds cybersecurity solutions based on local and regional wisdom."

Cybersecurity in Indonesia

Indonesia with 210 million internet users has now become one of the biggest digital economy drivers in Southeast Asia. Even so, this rapid digital growth is also accompanied by cybersecurity threats or cyber security which also increased significantly.

Based on data from the National Cyber ​​Security Index (NCSI) Report, score Indonesia's cyber security index was recorded at 38,96 points from 100 in 2022. Meanwhile, Indonesia is ranked 24th on the Global Cybersecurity Index out of 194 countries around the world with a score of 94,88. This figure also places Indonesia in the 6th position of the countries in ASEAN.

In Indonesia itself, the issue of cyber security is not new. Ranging from technology companies to internal government agencies are not immune to cyberthreats. The problem of data leakage is one that often occurs in Indonesia, as in Bukalapak and Youthmanual in 2019.

The government through BSSN has also developed an Indonesian cyber security strategy as a joint reference for all national cyber security stakeholders. The focus of this strategy includes governance, risk management, preparedness and security, protection of vital information infrastructure, national cryptographic independence; capacity building, capability and quality; cyber security policy; and international cooperation.

Right on September 20 2022, the government has also made it official authorize The draft Personal Data Protection Law (RUU PDP) which has been discussed since 2016. This approval is said to be something good in terms of legal certainty. The hope is that the PDP Law can shed light on the darkness of cyberspace in Indonesia.