CIBC Innovation Banking announced that it has provided a growth capital financing facility to threatER, a cyber defense category leader focused on eliminating cyber threats before they reach the network. This growth capital will facilitate threatER’s scale-up as they aim to help medium-sized businesses and enterprises, especially in financial services, healthcare and legal, protect their business from cyberattacks and increasingly sophisticated digital bad actors.
threatER’s cybersecurity solutions block traffic from all known bad actors from entering and leaving your network while enabling traffic to and from known good locations, all in real-time. By blocking known bad traffic at scale, threatER makes a company’s network, data, and users more secure and their existing security infrastructure more efficient.
With 350+ customers worldwide, threatER is dedicated to helping enterprises improve their network security posture, improve network performance, and reduce costs and alerts. ThreatER blocks harmful traffic from entering and leaving corporate/cloud networks while allowing healthy traffic in and out of networks, all in real-time, while achieving low latency and full data analytics transparency.
threatER said that the funding will be used for general working capital and success-based expenditures related to its expanding network protections to an organization’s security stack.
KEY QUOTES:
“Our ability to swiftly complete this transaction reflects both investors’ confidence in our cyber-strategy as well as our proven ability to execute on our business plans. This additional financing will allow threatER to fully implement our expansive roadmap as we break through the profitability milestone.”
– Brian McMahon, CEO of threatER
“threatER has demonstrated in the market, through daily use, how their product adds value to their customers, protects customer operations, and provides a potent tool that IT departments can deploy to shield their infrastructure. We are excited to work with threatER and be a part of their mission.”
– Ben Shephard, Executive Director at CIBC Innovation Banking
“threatER provides much needed innovation with next-generation software architecture and a data-driven solution to proactively combat cyberattacks and protect enterprise customers. We are excited for CIBC to partner with threatER for this next phase of growth.”
– Joyce Shen, Investor, Tenfore Holdings and threatER Board Director
