Managed cybersecurity platform Huntress has raised $40m in debt financing from CIBC Innovation Banking.
This capital injection will help Huntress finance M&A opportunities, bolster research, increase product development and expand across Canada, the UK, Europe, Australia and New Zealand.
Huntress is a managed cybersecurity platform that offers endpoint protection, detection and response capabilities. Its features include persistent footholds, ransomware canaries, managed antivirus, external recon, process insights, ThreatOps and partner enablement.
Huntress CEO Kyle Hanslovan said, “Huntress is growing faster than ever. In a market surrounded by increasingly expensive capital, CIBC Innovation Banking’s team understood our needs as a high-growth startup.
“With their help, we’ve already made a strategic acquisition, launched new managed security products and more. We’re thrilled that CIBC Innovation Banking supports our vision for the future—this investment will help us continue innovating as we further our mission to protect small and midsized businesses.”
Huntress CFO Marcos E. Torres said, “We’re just getting started with our build-and-buy strategy to help businesses strengthen their preventive security efforts.
“With our level of maturity in M&A and deal structuring, we’ll continue to acquire and develop assets that solve business and technical problems for our partners.”
Huntress recently acquired security awareness training startup Curricula. The deal implements a story-based security awareness training platform into its offering to help employees understand threats.
CIBC was the most downloaded FinTech app in Q2 2022 with 488,000 downloads, which was more than four-times more than the previous quarter.
Earlier in the year, CIBC injected €35m in growth capital financing into Ageras. The company is a marketplace to help small business owners find accountants. It also offers SME banking, invoicing, accounting and payroll software.
It raised the capital to support its expansion efforts and complete more strategic acquisitions to meet the demands of customers.
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