HUB Security, a developer of confidential computing cybersecurity solutions and services, has announced a significant growth investment.
The company has secured up to $16m in gross proceeds from Lind Global Asset Management VI LLC, an investment entity managed by The Lind Partners, a New York-based institutional fund manager.
The additional funding is expected to provide HUB Security with resources to fuel its rapid growth and development, enhance its financial stability, and enable the company to pursue future plans. HUB Security focuses on unique cybersecurity solutions that protect sensitive commercial and government information. They are a recognized leader in the rapidly evolving field of zero-trust confidential computing, an area of cybersecurity that provides protection to data even when computers are infected and administrators are compromised.
With the new funding, the company intends to position itself as a leading confidential computing cybersecurity solutions provider in the market. The investment will be used to enhance technology development and expand go-to-market strategies.
Under the terms of the agreement with Lind, HUB Security will have access to up to $16m in convertible debt financing in three tranches, which will mature over a two-year period. Upon closing the transaction, the company will have immediate access to the first tranche of $4.5m, and the remaining two tranches totaling $11.5m upon the fulfillment of certain conditions.
HUB Security CEO Uzi Moskowitz said, “The additional funding from The Lind Partners fortifies our balance sheet and enables us to position HUB Security as a leading confidential computing cybersecurity solutions provider in the market. We are thrilled to have Lind as a partner in our journey. Their unwavering commitment and support will undoubtedly propel us even further towards achieving our goals of enhancing our technology development and expanding our go-to-market strategies.”
HUB Cyber Security Ltd was established in 2017 by veterans of the 8200 and 81 elite intelligence units of the Israeli Defense Forces and began trading as a public company on Nasdaq on March 1, 2023, under the ticker “HUBC.”
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