EOS Hellenic Renaissance Fund (EHRF) invests in Obrela Security Industries

EHRF, managed by EOS Capital Partners (EOS), announced on 04/12/2020 its fourth investment of € 4.5m in Obrela Security Industries, an innovative Cyber Security Services provider.

About Obrela Security Industries

The Company was established in 2009 by Mr. George Patsis and George Daglas in Athens and is primarily active in the high potential Cyber Security Services market. Headquartered in London since 2016 with offices in Athens and Dubai, the Company delivers its services internationally (mostly in Europe and MENA region). The Athens based entity serves as the servicer excellence and product development center of the Group. Obrela provides MDR (Managed Detection and Response) Services to identify, analyze, predict and prevent highly sophisticated security threats in real time. With engagements that include financial institutions, stock exchanges, telecommunications, critical infrastructure, and online service providers, Obrela collects and analyzes structured and unstructured data generating valuable intelligence for new, emerging and advanced cyber threats giving its customers a unique advantage in predictability, preparation and response.

The MDR market is one of fastest growing subsectors of the overall Cyber Security Services market, with an estimated annual growth rate above 20% (Source: Gartner), that is expected to accelerate post Covid-19 crisis even more as more companies test remote-work models that obviously require advanced security levels.

Obrela’s business model has resulted so far in an impressive revenue growth (3-year CAGR: +50%) and generation of robust EBITDA (3-year CAGR: +48%) in the last years, with no leverage, recording also strong cash flows. Beyond its prominent corporate clientele around the globe, Obrela has managed to obtain a series of prestigious certifications and accreditations proving its relentless effort for exceeding customers’ expectations and consistently maintaining its commitment to excellence towards stakeholders; acknowledged as a “Notable Vendor” in the Europe Context of Gartner’s 2019 Magic Quadrant for Managed Security Services report, awarded the editor’s choice MDR Award in Cyber Defense Magazine’s Cyber Defense Global Awards 2018.

EHRF’s funds will be used for a) Obrela’s proprietary Swordfish platform further development b) R&D purposes c) for the sales team development backed also by pre and aftersales teams staffed with IT experts and d) for the implementation of its extensive marketing plan.

About EOS

EOS is the external Alternative Investment Fund Manager of EHRF, a private equity fund with approx. € 120m in AUM, focusing in growth capital investments in Greek SMEs across all sectors. The key cornerstone for the creation of EHRF, was its participation in the Equifund Fund of Funds program. EquiFund investment platform is an initiative created by cooperation between the Hellenic Republic and EIF. It is financed by the Greek ESIF Fund of Funds TAESYM under the European Union / European Regional Development Fund / Operational Programme EPANEK, the EIF and private investors, with the objective to facilitate access to finance, mainly to SMEs, by developing the Venture Capital/Private Equity (“VC/PE”) in Greece in cooperation with selected Financial Intermediaries.

EOS investment strategy focuses on SMEs with a healthy financial position and a solid value proposition looking for capital to achieve their growth potential either organically or inorganically through mergers and acquisitions.