CyCraft Pre-IPO: Capturing APAC’s High-Growth Markets with AI-Driven Momentum

Before its listing on the Taiwanese Innovation Board (TIB), CyCraft-KY (7823.TW), the leading Taiwanese AI cybersecurity vendor, held the Pre-IPO Investors Conference on January 12. Amid rising global cyber threats and the accelerated adoption of Generative AI, CyCraft has established an economic moat through its highly autonomous AI detection technology, comprehensive product portfolio, and deep integration of local threat intelligence. The company stands out as one of the few Taiwanese cybersecurity enterprises with a proven international track record. Benefiting from increased cybersecurity awareness, CyCraft’s momentum is surging, with 2025 annual revenue reaching NT$369 million, a YoY increase of 22.76%.

Chairman Benson Wu stated that the company has long focused on autonomous attack detection, threat analysis, and attack surface management. CyCraft is currently the only cybersecurity vendor in Taiwan with full in-house R&D capabilities and successful commercialization of AI-driven solutions. The core of CyCraft’s technology lies in replacing labor-intensive traditional processes with AI automation. Through visualized posture management and real-time attack surface monitoring, CyCraft helps enterprises identify potential risks before any attack occurs.

In terms of international validation, CyCraft participated in the world-renowned MITRE ATT&CK Evaluations in 2020, outperforming several global giants across multiple metrics. From 2020 to 2022, the company achieved "Zero Delayed Detections" and "Zero Configuration Changes" for three consecutive years, demonstrating that its AI detection can operate stably without manual intervention. CyCraft was also featured in Gartner’s 2021 “Market Guide for AI Startups, Greater China,” gaining recognition from top-tier research institutions.

CyCraft’s XCockpit Autonomous Threat Exposure Management Platform, integrating three core modules: EDR (Endpoint Detection and Response), IASM (Internal Attack Surface Management), and EASM (External Attack Surface Management) to provide one-stop holistic protection. Furthermore, CyCraft launches the CyCraft AI Agent Suite, which utilizes AI Agents to simulate attack paths and automate incident response workflows, significantly enhancing efficiency.

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As Generative AI permeates corporate applications, CyCraft has entered the GenAI security market with its XecGuard AI Firewall. XecGuard effectively blocks prompt injection and jailbreak attacks without requiring modifications to the underlying model architecture. Testing shows that XecGuard improves a model’s overall security defense score by an average of nearly 20%, with protection against specific attack types increasing by over 30%, filling a critical security gap in the current LLM ecosystem.

CyCraft currently serves over 300 customers across high-information-dependent industries, including semiconductors, finance, manufacturing, transportation, e-commerce, and the government sector. With a talent supply-to-demand ratio of approximately 1:4 and most incidents stemming from human error, the demand for "highly autonomous, low-labor" solutions is clear. The company is also expanding through agency and distribution models, successfully entering Japan and Southeast Asia via partnerships with major partners like NTT-AT and Hitachi.

Financially, over 90% of CyCraft’s revenue is derived from subscription services, with a customer retention rate exceeding 90%. In the first three quarters of 2025, deferred revenue grew by 42% YoY, providing excellent revenue visibility. Furthermore, as an original equipment manufacturer, CyCraft boasts a marginal contribution rate of 95%. This high margin implies that as the business scales, profit growth will significantly outpaces revenue growth, demonstrating powerful capital premium potential.

Looking ahead, CyCraft will continue to extend its reach from endpoint detection to full attack surface management, leveraging GenAI security as its next growth engine. By exporting Taiwan’s accumulated threat intelligence and combat experience through a lightweight SaaS model, analysts believe CyCraft is well-positioned for sustained growth, driven by "Cybersecurity as National Security" policies, the AI boom, and the high-volume attack environment in the Asia-Pacific region.

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