Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

EclecticIQ Closes $24 Million Series C Funding Round

Threat intelligence provider EclecticIQ on Tuesday announced that it has closed a €20 million ($24 million) Series C financing round, which brings the total raised by the company to €47 million ($56 million).

Threat intelligence provider EclecticIQ on Tuesday announced that it has closed a €20 million ($24 million) Series C financing round, which brings the total raised by the company to €47 million ($56 million).

Founded in 2014, the Amsterdam, Netherlands-based cybersecurity scale-up also provides its customers with hunting and response technology, to help them repel targeted attacks.

The company says it plans on using the new funds to expand its portfolio and increase its footprint, to meet the needs of governments, enterprises, and service providers.

With the new financing, the company hopes to drive further innovation of its threat intelligence platform with the addition of new use cases, helping customers increase situational awareness and adopt an intelligence-led cybersecurity approach.

Furthermore, the company believes that operationalizing threat intelligence could provide additional opportunities, and claims it is well positioned for the development of new solutions for threat detection, hunting, and response.

EclecticIQ aims to expand its commercial teams in the United States and Europe, and to enter the Middle East, Africa and Asia Pacific markets.

The new funding round was led by Ace Management and saw participation from Arches Capital, Capricorn Digital Growth Fund and Quest for Growth, Invest-NL, and existing investors KEEN Venture Partners, KPN Ventures, and INKEF Capital.

“It is exciting to bring in a high-caliber cyber investor like Ace Management, which shares our vision of threat intelligence at the core of cybersecurity, and sees the opportunity to transform the industry by solving massive challenges faced in threat detection, hunting and response. This financial investment will enable EclecticIQ to drive the industry forward and support our clients more effectively facing an ever-evolving threat landscape,” commented Joep Gommers, EclecticIQ’s co-founder and chief executive officer.

Advertisement. Scroll to continue reading.

Related: Banking Cybersecurity Provider DefenseStorm Raises $19 Million

Related: DevSecOps Company apiiro Emerges From Stealth With $35 Million in Funding

Related: Secure Access Provider Axis Security Raises $32 Million

Related: Enterprise Device Security Company Eclypsium Raises $13 Million

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Discover strategies for vendor selection, integration to minimize redundancies, and maximizing ROI from your cybersecurity investments. Gain actionable insights to ensure your stack is ready for tomorrow’s challenges.

Register

Dive into critical topics such as incident response, threat intelligence, and attack surface management. Learn how to align cyber resilience plans with business objectives to reduce potential impacts and secure your organization in an ever-evolving threat landscape.

Register

People on the Move

Gigamon has promoted Tony Jarjoura to CFO and Ram Bhide has been hired as Senior VP of engineering.

Cloud security firm Mitiga has appointed Charlie Thomas as Chief Executive Officer.

Cynet announced the appointment of Jason Magee as Chief Executive Officer.

More People On The Move

Expert Insights

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest cybersecurity news, threats, and expert insights. Unsubscribe at any time.