Dutch Security TechFund Invests Close to € 3 Million in EclecticIQ
On 31 August, Cybersecurity investor Dutch Security TechFund, part of TIIN Capital, announced an investment of close to € 3 million in Amsterdam based cybersecurity scale-up EclecticIQ. EclecticIQ is a global threat intelligence, hunting and response technology provider, which is presently accelerating its growth by further developing its unique cybersecurity platform and by expanding into new countries and sectors. The investment fits perfectly in the strategy of the Fund to onboard companies which enable governments and large enterprises in their mission to overcome cybersecurity challenges.
To accelerate its growth, EclecticIQ also announced today the support of the European Investment Bank (EIB) with a €15 million financing deal. This underlines the ambition of the company to become the most trusted and innovative vendor in its domain. Cybersecurity investor Dutch Security TechFund is part of the European cyber security ecosystem and is well equipped to provide EclecticIQ further insights into the dynamics in Europe and relevant developments in the cybersecurity landscape. The Fund strongly believes in the strategy of the company to solve the challenges the industry is facing in threat detection, hunting and response. This ambition is also supported by French cyber growth investor Ace Capital Partners and other investors such as Keen Venture Partners, KPN Ventures, INKEF Capital, Invest-NL, Arches Capital, Capricorn Digital Growth Fund and Quest for Growth.
Michael Lucassen, managing partner at Dutch Security Techfund: “Cyber threats continue to evolve. It is therefore important for organisations to adopt an intelligence-led cybersecurity approach. We are convinced that EclecticIQ can help large enterprises, governments and service providers solving the challenges and we are enthusiastic to be part of the journey”.
EclecticIQ’s Co-founder and CEO Joep Gommers: “We are thrilled to have the backing of Cybersecurity investor Dutch Security TechFund next to the EIB and our existing investors. We look forward benefiting from their expertise and knowledge. Now more than ever security teams at governments, large enterprises and service providers are seeking for solutions to overcome challenges in scale, speed, and effectiveness.”
About TIIN Capital / Dutch Security TechFund
Founded in 1998, TIIN Capital has many years of experience in supporting technology companies with capital, knowledge and network. In early 2019, TIIN Capital, based in Naarden, started with its sixth venture capital fund; Dutch Security TechFund. Dutch Security TechFund has a sector focused approach (startups and scale-ups in Cybersecurity and IoT security). It has the strategy to work together with governments and corporates and has partnerships with the Dutch Security cluster HSD and the European Cyber Security Organization (ECSO) in order be close to developments in the cybersecurity market in Europe and to be part of the growth of a competitive cybersecurity and ICT industry. The fund has also an office at the HSD Campus.
The fund has 'angel investors' as investors, but regional investment company InnovationQuarter, the Municipality of The Hague, KPN Ventures, Investeringsfonds Groningen and Invest-NL are also involved as LP. The Dutch Ministry of Economic Affairs and Climate is also co-investing through the RVO Seed facility.