EclecticIQ Raises 5.5 Million Euro for Enterprise-ready Cyber Threat Intelligence (CTI) Platform
HSD premiumpartner EclecticIQ (formerly also known as Intelworks EclecticIQ), vendor of threat intelligence technologies, announced today that it has secured €5.5 million in Series A funding from KPN Ventures (founding father of HSD) and INKEF Capital, of which €1.5 million converting previously committed capital. Today’s investment brings the total to €6.5 million, or $7.3 million.
During the HSD Access to Capital Event in February of this year, EclecticIQ talked about the 'lessons learned' and inspired entrepreneurs by sharing their experiences. A year earlier the company pitched their ideas at the Access to Capital Event during the Cyber Security Week 2015 ‘powered by HSD’. It was the place where the first contacts between EclecticIQ and the current financiers were made.
With this new funding EclecticIQ is now able to solidify its base and expand across sectors and increase international strategies.
Capital is necessary to develop innovative ideas into working systems and products. HSD Office, together with several partners, has created the HSD Finance Guide to keep innovative parties up-to-date on possible financing options during the different stages of the innovation process.
Financial institutions and government agencies are core markets for EclecticIQ. For financial institutions, an investment in technologies to help manage cyber threats not only provides stronger protection for ongoing operations, but also enables greater evaluation of emerging approaches to service delivery. For government agencies, this provides a way for analysts to share critical information across jurisdictional and agency boundaries, improving the preventative capability and response time of Computer Emergency Response Teams (CERTs). Joep Gommers, CEO and founder of EclecticIQ, comments: "The technology of aggregating multiple sources of intelligence is important, and we are recognised as leading the CTI market in that regard, however process enablement is where our technologies really make a difference. EclecticIQ focuses on incorporating analysts’ insights into enterprise workflows." Prior to founding EclecticIQ, Joep Gommers served as Head of Global Collection and Global Intelligence Operations at cyber threat intelligence market leader iSIGHT Partners, acquired in January 2016 by Milpitas, California-based FireEye (NASDAQ: FEYE).
About KPN Ventures & INKEF Capital
KPN Ventures is the venturing arm of KPN, the leading Dutch ICT company. KPN Ventures invests, both directly and indirectly, in companies with innovative products and business models to create technological and economical synergies with KPN and create value for its customers. KPN Ventures provides access to capital, to KPN’s extensive expertise in connectivity, security and related technologies, to its leading network infrastructure and to its large customer base. KPN Ventures focuses on early growth-stage investments in European technology companies in the segments: Internet of Things, Smart Home, e-Health, Cyber Security, OTT, Cloud services and Data & analytics applications. INKEF Capital is an Amsterdam-based venture capital firm that focuses on long-term collaboration and active support of innovative technology companies. INKEF Capital was founded in 2010 by Dutch pension fund ABP and with €200 million under management it is one of the largest venture capital funds in the Netherlands. INKEF focuses on investment opportunities in Healthcare, Technology and IT/New Media and prefers to participate from Series A round financing onwards.
For the complete press release read here.