Group-IB, a threat intelligence company, is celebrating its twentieth anniversary and using the occasion to announce its plans for global expansion, including a move into the United States. The company, which helps organizations and governments investigate cyberattacks and online fraud, is raising its first round of funding in seven years to fuel its expansion.
Key Takeaway
Group-IB, a threat intelligence company, plans to expand globally and enter the United States market after successfully exiting Russia. The company, which helps organizations investigate cyberattacks and online fraud, aims to raise funding to drive its expansion and become a decentralized cybersecurity powerhouse. Group-IB’s move comes after its co-founder and former CEO was arrested on charges of treason and the company left Russia due to the country’s geopolitical issues.
Rocky History
Group-IB’s journey to this point hasn’t been easy. In September 2021, the company’s co-founder and former CEO, Ilya Sachkov, was arrested by Russia’s Federal Security Service on charges of treason. This came after the company moved its headquarters from Russia to Singapore, following allegations of Russian meddling in the 2016 US presidential election. Sachkov’s arrest led to further distancing from Russia, with Group-IB completing its exit from the country in April.
According to Group-IB’s current CEO, Dmitry Volkov, the company’s ties to Russia were harming its relationship with international clients, especially after Russia’s invasion of Ukraine earlier this year. Volkov sold his stake in the company’s Russia-based business, which now operates under the brand F.A.C.C.T., while Group-IB focuses on global expansion.
Global Ambitions
Group-IB provides cybersecurity solutions to prevent cyberattacks, breaches, and online fraud. With over 500 enterprise customers, the company generates almost 40% of its income from the APAC region. It runs the largest computer forensics laboratory in Eastern Europe and has conducted 1,300 successful investigations, working closely with law enforcement agencies such as Interpol and Europol.
After exiting Russia, Group-IB focused on expanding its presence in the Asia-Pacific and Middle Eastern markets. The company plans to open new digital crime resistance centers (DCRCs) in these regions to protect clients against targeted cyberattacks. The goal is to create a global network of independent DCRCs that understand the local threat landscape. Group-IB aims to enter the Latin American market in 2024 and expand to the United States in 2026.
Global Domination
Group-IB stands out in the cybersecurity industry for remaining self-sufficient despite leaving Russia. While other companies rely on external funding, Group-IB has relied on organic revenue growth. However, the company is now looking to raise funding to accelerate its business and technology development. This will fuel its expansion into the Americas and support its vision of becoming a decentralized company. Group-IB plans to recruit technical experts in different regions to enhance its capabilities and then replicate the same setup in other areas.
