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THE INVESTOR
September 23, 2018
Big Reunion

Mobile & Internet

Naver invests in cybersecurity startup Theori

  • PUBLISHED :September 04, 2018 - 15:40
  • UPDATED :September 04, 2018 - 16:20
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[THE INVESTOR] Internet giant Naver said on Sept. 4 that it has invested in US-based cybersecurity startup Theori.

The Austin-headquartered startup offers security consulting services and training programs for corporate customers, analyzing loopholes and system vulnerabilities to fend off hacking attacks.

Some of the startup’s customers include Microsoft, Facebook, Hyundai Mobis, and Dunamu.




Theori CEO Park Se-joonis a well-known figure in the cybersecurity realm. As the member of a hacking team from Carnegie Mellon University, he has the most wins at the DefCon hacker competition, which is referred to as the “World Series of Hacking.”

The Korean firm did not reveal terms of the investment deal.

“Naver was able to beef up its security systems through a consulting project with Theori,” said Song Chang-hyeon, chief technology officer of the internet giant, adding it would strengthen the partnership to thwart possible cyber threats.

The latest investment is in line with Naver’s initiative to find promising startups and technologies in different segments.

In the first half this year, the web portal operator poured 45.3 billion won (US$40.60 million) into 16 global startups, including those in Europe, North America and Southeast Asia.

They include e-commerce firm Massdrop, HoneyBook -- which runs a business platform for small and medium-sized companies -- online shopping platform operator iPrice Group, and co-working space firm Hive International.

In France, the Korean web portal operator acquired artificial intelligence laboratory Xerox Research Center, renamed as Naver Labs, this year, and executed investments in startups there, including food recipe video startup Chefclub.

It also invested 258.9 billion won in its subsidiary Naver France last month to buy newly issued stocks of the European office. The investment will be utilized to invest in Europe and run operations to foster domestic startups, according to the Korean firm.

Residing in France, Naver founder Lee Hae-jin is said to be leading the firm’s investment project for global startups.

By Kim Young-won (wone0102@heraldcorp.com)

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