Cybersecurity startup CounterCraft has bagged $5m in a new round led by Adara Ventures.
The venture capital firm was joined by new investors eCAPITAL and Red Eléctrica Group. The round also saw participation from existing investors including Evolution Equity Partners, ORZA and Wayra.
“We are energised and delighted to announce concluding our latest funding round with a total of $5m and to welcome eCAPITAL and Red Electrica Group to our list of specialised investor firms,” said David Barroso, CEO and co-founder of CounterCraft.
CounterCraft will leverage the new funds to acquire greater market share in the US, where a number of successful threat detection, intelligence and response projects are already underway.
“We continue to be inspired by the combination of engineering ability and vision that CounterCraft has shown in defining a new category of defensive tool that responds to the current threat landscape,” said Alberto Gomez, managing partner at Adara Ventures. “Nothing else we have seen effectively uses a Know-Your-Attacker stance to turn the tables on threat actors. We are now excited about CounterCraft’s prospects for expanding its presence with sophisticated, large clients in the US and European markets.”
Dirk Seewald, partner at eCAPITAL, added, “Cyber threat deception solutions promise to provide the highly sought-after efficiency and effectiveness in threat detection programs. By luring intruders into a digital twin of your companies’ IT infrastructure, the quality of intelligence gathered increases tremendously. With CounterCraft we have a team of cybersecurity experts building the product they were looking for in their previous organisations’ operational roles. Their customers love the product and the team. We are glad to be joining this group of renowned investors in this financing round.”
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