Canada-based CyberTech Beauceron Security gets CIBC backing

Canada-based CyberTech Beauceron Security gets CIBC backing

Canada-based cybersecurity SaaS platform Beauceron Security has received a growth capital facility from CIBC Innovation Banking.

With the funds, Beauceron plans to build new features and products to help businesses reduce vulnerabilities to human-centric cyber risks.

The size of the investment was not disclosed.

Beauceron offers a platform that educates employees about security awareness and risk reduction.

Its platform helps organisations with cybersecurity awareness programs that teach them to make better decisions and reduce their cyber risk.

Beauceron Security co-founder and CEO David Shipley said, “This is a fantastic opportunity for our firm to continue our ambitious plans. We thoroughly enjoyed working the CIBC Innovation Banking team. They understand how to work with start-ups to help them achieve their full potential. Working with CIBC Innovation Banking is going to help us to scale our business, and with market expansion.”

Last year, the Beauceron launched a new service to help organisations provide feedback to employees reporting suspicious emails. It claims that users have experienced a ‘significant’ increase in their employees reporting suspicious activity and a decrease of engagement with phishing emails.

The Canada-based cybersecurity SaaS company has raised a total of $4m in equity, to date. Its investors include BankTech Ventures, Independent Community Bankers of America, Mariner Partners and New Brunswick Innovation Foundation.

Another security awareness platform to recently raise funds is Riot. The CyberTech, which raised $12m, offers interactive courses to help employees improve their cybersecurity knowledge.

Another Canadian FinTech company to kick off the year with a funding round was Conquest Planning.

Conquest Planning, a technology developer on a mission to modernise financial planning through customised advice, has raised CAD 24m ($17.9m) in its Series A round.

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