US-based cyber security company UpGuard launches Sydney office
21 Mar 2017
UpGuard, an Australian-founded cyber security startup, is opening an Asia-Pacific headquarters in Sydney, five years after moving to Silicon Valley in the US.
UpGuard’s cyber resilience platform helps companies understand how their various systems operate while managing risk.
After attracting investment from Square Peg Capital and Valar Ventures, UpGuard’s co-CEOs Mike Baukes and Alan Sharp-Paul moved the company headquarters to Silicon Valley, where it experienced strong annual growth of more than 300 per cent. The company’s clientele includes ADP, Amadeus, Citrix, PGI, Rackspace and Ulta.
UpGuard’s Asia-Pacific expansion follows a strong year in the retail, technology and financial sectors, marked by investment from IAG, Australia’s largest general insurer.
‘We've always remained connected to the Australian market, where it all began for us,’ says Baukes. ‘But with more and more companies back home recognising that robust cyber risk management is critical to their survival and success, we want to ensure we are set up to manage the demand. We're excited to expand our local presence and continue taking advantage of homegrown talent.’
By 2020 spending in the Asia-Pacific region on critical infrastructure security is expected to reach US$22 billion.
UpGuard was founded in 2012 and is a privately held, venture-funded startup headquartered in Mountain View, California. Baukes and Sharp-Paul developed the product after leaving the financial services industry and going through the Startmate accelerator program.