After concluding an intense five-year startup phase marked by robust growth in all areas, VinCSS, a cyber security services provider and subsidiary of Vingroup, officially enters its Series B fundraising round to penetrate international markets. The company has announced the appointment of Mr. Hai Nguyen as Chief Fundraising Officer. Prior to joining VinCSS, Mr. Hai Nguyen was one of three Vietnamese CEOs of a startup recognized in the Forbes 30 Under 30 Asia in 2017.

He co-founded the Canavi project and brings over a decade of experience in the tech startup sector. His leadership has facilitated the creation of more than 4,000 jobs and attracted investments from firms such as ESP Capital, Hustle Fund, and NIK Capital. Additionally, he has previously led a company funded by the former Chairman of Oracle’s Asia-Pacific operations and has been a board member for several other funded tech startups.

Committed to expanding into the global market

The recent appointment of a seasoned Chief Fundraising Officer signals VinCSS’s strategic moves, underscoring their commitment to propelling the company forward with premium-quality “Make in Vietnam’’ products and services that hold strong competitive advantages on the international stage. Notably, in recent years, VinCSS has consistently marked its presence with a plethora of cybersecurity services and strong authentication solutions that meet international standards. Frost and Sullivan recognized it as the leading innovator in passwordless strong authentication in the ASEAN region in 2022.

In July 2023, VinCSS successfully onboarded Mr. Philip Hung Cao, an acclaimed expert from the Asia-Pacific region who spent nearly a decade with global security leader Palo Alto Networks. He now serves as Deputy CEO, overseeing strategy, market development, business and marketing.

Most recently, VinCSS cooperated with FIDO Alliance and the Authority of Information Security of Vietnam to successfully host the FIDO APAC Summit 2023. Sponsored by the Ministry of Information and Communications, the Summit saw the participation of hundreds of delegates from government sectors and global tech enterprises. Within the week of the Summit, VinCSS expanded its cooperative network, signing agreements with eight partners. This aligns with its comprehensive open strategy to drive market development, leveraging not just internal resources but also the strengths and experience of external partners and tapping into external capital sources to elevate their position.

Mr. Simon Trac Do, CEO and Founder of VinCSS, said that after nearly half a decade of establishment it is on the cusp of reaching financial equilibrium and is formally initiating its Series B funding round, targeting both regional and global market expansions. “Leveraging our robust suite of services in passwordless authentication, identity management, and continuous development of the VinCSS Zero Trust platform, we are strategically positioned for success,” he said. “The addition of Mr. Hai Nguyen, with his vast fundraising expertise, further reinforces our executive team’s capabilities, ensuring that we are optimally positioned to conclude our Series B round by 2024 and strategically navigate VinCSS’s future growth.”

“I am truly honored and proud to join the VinCSS collective, a tech startup that’s making commendable strides acknowledged globally,” said Mr. Hai Nguyen. “ It’s exhilarating to be part of the challenge of navigating the regional market as a Vietnamese startup, starting with progressively attracting investments from international backers not only into VinCSS but also benefiting the broader Vietnamese startup ecosystem.”

VinCSS welcomes potential investors with an open attitude. The Series B round is projected to conclude in 2024. Capital raised will be invested in market expansion, bolstering R&D activities, and maintaining VinCSS’s pioneering stance in the Asia-Pacific region.

The VinCSS Cyber Security Services Joint Stock Company is a subsidiary of Vingroup and specializes in the research, development, manufacturing, and delivery of cybersecurity services, and innovative passwordless authentication solutions. Established in late 2018, it rapidly evolved into a successful startup, achieving significant milestones in various domains such as IT system cybersecurity, Identity and Access Management (IAM), IoT security, and security solutions for smart automobiles.

A standout accomplishment is VinCSS’s success in the IAM solution group. This achievement led to the company being recognized by Frost & Sullivan, a globally-renowned market research firm, as a trailblazer in passwordless authentication within the Southeast Asia region. In a crowning moment at the end of 2022, VinCSS received the Enabling Technology Leadership Award in the SEA Passwordless Authentication Industry category from Frost & Sullivan under the Best Practice Recognition, a highly-esteemed accolade in the world of breakthrough technology.

Contact: v.office@vincss.net