Group-IB's sets the stage for US expansion

Approaching its 20th anniversary, Group-IB is planning large-scale expansion into new regions. The global cybersecurity firm, known for helping governments and businesses investigate cyberattacks and combat online fraud, is on a mission to strengthen its international presence.

• 20th Anniversary Funding: Group-IB is looking to leverage this significant milestone to scale up and become a preeminent force in cybersecurity globally. To commemorate the 20-year journey, the company has also initiated its first fundraising round in seven years.

• Relocation: Previously, Group-IB had relocated its headquarters from Russia to Singapore as an effort to remain independent and expand business operations.

• Expansion Plans: An expansion into the Latin American market is planned for 2024, followed by a U.S entry in 2026. The aim is to establish a global network of independent DCRCs, each equipped to handle local threats and the cybercrime landscape.

• New CEO: Under the new leadership of Dmitry Volkov, Group-IB further distanced itself from Russia, completing its total exit by April 2022 due to concerns of harming international client relationships, particularly following Russia's invasion of Ukraine.

• Income and Partnerships: The company, which provides proprietary cybersecurity solutions to over 500 enterprise customers, derives nearly 40% of its income from the APAC region. Its clientele includes delivery titan DHL and Bulgarian banking behemoth DSK Bank.

• Operation Details: Group-IB operates on a unique business model, relying mostly on organic revenue for growth. Their first major funding round since 2016 is on the horizon, with the company currently in talks with potential strategic partners.

• Recruitment Operations: While other cybersecurity companies are downsizing, Group-IB is actively recruiting technical experts across regions for roles in digital forensics, incident and emergency response, and cyber forensics.

As revenue from these regions increases, Group-IB plans to introduce more layers to their operation, such as threat intelligence, before replicating the same set-up in other regions. Recruiting has already begun in Latin America.