Red Piranha closes latest Capital Raise oversubscribed

Company Name: Red Piranha

Announcement Date: 12/12/2019
Announcement Category: Investment
Announcement Content:

Topping off a standout year, Red Piranha is pleased to announce the completion of its most recent capital raise in the amount of AUD $2.5 million which far exceeded initial expectation.

The offer which opened on 18 November 2019 and closed on 4 December 2019, with assistance from its lead manager, Canary Capital, initially sought AUD $1 million, going to market with 4 million shares on offer, priced at $0.25 cents per share.

With the option to take oversubscriptions up to the total amount of AUD $2.5 million, or 10 million shares, Red Piranha’s board decided to accept oversubscriptions to the full amount.

This latest capital raise sees Red Piranha’s value at just over AUD $30 million.

The company continues to set a new standard in the tech-industry with standout achievements this year, including the launch of Crystal Eye 3.0, partnering with Downer Defence to develop a security program to support Australia’s critical infrastructure, achieving 60Gbps IDP/S Suricata throughput resulting in a new world record, and the appointment of COO Terry Walsh, former CEO of CISCO Canada.

Red Piranha also took out two prestigious awards in 2019 being named ‘WA Cybersecurity Team of the year’ and taking out the coveted “Consensus Innovation Award” following in the footsteps of Atlassian and Wise Tech Global.

Since beginning its journey in October 2015, Red Piranha’s Crystal Eye is now the world's most powerful Unified Threat Management (UTM) platform featuring the industry's first in-built gateway application whitelisting as well as email scanning, data loss prevention, advanced firewall technology and several other innovative features, that collectively provide exceptional security orchestration, automation and response.

“To monitor and control sophisticated threats, we need to continue to evolve, moving from traditional security measures to apply advanced threat detection and monitoring techniques”, said Adam Bennett. Red Piranha Chief Executive Officer. “A Unified Threat Management (UTM) solution uses intelligent defence, adaptive analytics and integrated controls to detect and demolish the attacks in real-time.”

Designed with the SMB industry in mind, realising the lack of affordable options available, Crystal Eye helps Managed Service Providers (MSP’s) and their clients to defend against cyber-crime, the Crystal Eye platform provides a ‘plug and play’ solution that is both easy to use and affordable with proven security techniques and multiple layers of protection to keep data safe.

Red Piranha will utilise the funds it raised to expand its core teams and further develop and commercialise Crystal Eye, capitalising on opportunities available in emerging regions in both domestic and international markets.

Through an ongoing partnership with organisations such as AustCyber – the Industry Growth Centre for Australia’s cybersecurity, Austrade and most recently Downer Defence, Red Piranha is helping increase Australia's national threat intelligence ecosystem with world-leading protection.

Read more about Crystal Eye on Red Piranha’s website:

For more information on future investment opportunities, please contact Canary Capital

Announcement URL:
About Red Piranha:

Fight cyber crime with our holistic defence in-depth strategy allowing you to Defend, Detect and Respond to threats and helping you Protect confidentiality, ensure integrity and maintain availability.

Red Piranha manufactures and supplies End-to-end security solutions to safeguard your information across the entire network and its borders helping you maintain Confidentiality and Integrity. The easily deployed Crystal Eye multi-layered security next generation firewall range increase security awareness reducing risk exposure from advanced cybercrime, malicious software and insider threats.

In 2015 Red Piranha purchased the DNS.Insure platform and began development on the Crystal Eye Unified Threat Management systems (UTM's) via its security operating system called Crystal Eye. The Red Piranha Crystal Eye Gateway allows the client control over the network, reducing risk of possible attacks through a defense in depth strategy as well as giving the client easy content control over devices that use the network. Managed threat Intelligence defends before attacks are launched, providing the client with solutions which are updated regularly to combat new and persistent threats.

Red Piranha Next-Generation Enterprise Crystal Eye Unified Threat Management (UTM) product family protects the network internally as well as the perimeter, optimizing connectivity and simplifying the administration of network operations. The Crystal Eye product range will be the first product of its kind designed and owned in Australia.

Go to Company Profile for: Red Piranha

Announcement Contact: [email protected]