Terranova Security secures non-dilutive financing

Cybersecurity platform Terranova Security has collected $9m in non-dilutive financing from BDC Capital’s Growth and Transition Capital division.

This deal enables Terranova to buy back shares.

With the fresh equity, the cybersecurity company hopes to bolster its growth and position as a leader in cybersecurity awareness training.

Terranova offers a selection of online security training programs, which is designed to turn employees into better defence lines. Its services include training for cybersecurity, governance and compliance, data privacy, phishing and GDPR.

To help train teams, Terranova implements personalised training campaigns and commands a five-step framework to improve learning.

The cybersecurity company also boasts partnerships with Microsoft and Cisco, which sees its technology integrated with some of their tools.

Cybersecurity awareness training is becoming a growing market, with several startups focused on the space closing funding rounds this year. Among them, Hack the Box secured $10.6m in its Series A funding round. The company utilises ethical hacking methods to train staff in cybersecurity techniques.

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