Ace Management leads EUR20 million Series C round in EclecticIQ
Threat intelligence, hunting and response technology provider EclecticIQ has raised EUR20 million in Series C financing led by cyber investor Ace Management.
Other participants in the round include Capricorn Digital Growth Fund and Quest for Growth, Invest-NL, Arches Capital and existing investors INKEF Capital, KEEN Venture Partners and KPN ventures.
This latest round brings the company’s total funding raised to EUR47 million. The fresh capital will be used to expand the company’s geographical footprint.
EclecticIQ’s customer base relies on its threat intelligence platform as the single source of truth for cyber threats and incidents.
The funding will aim to drive innovation of the platform with new use cases, with the intention of enabling governments, large enterprises and service providers to manage threat intelligence, create situational awareness and adopt “an intelligence-led cybersecurity approach”.
With the recent acquisition of PolyLogyx’s end-point technology, EclecticIQ says it is well positioned to develop "new solutions that re-imagine how organisations detect, hunt and respond to sophisticated threats."
The company sees opportunities in operationalising threat intelligence, as this is a problem that has not been solved yet.
In order to accelerate growth, the company will use the funding to expand its commercial teams in Europe and the US, as well as to establish a presence in the Middle East, Africa and Asia Pacific.
Using its experience with governments, and some of the most targeted
enterprises globally in terms of cyber attacks, the company will expand its focus to new segments and focus on global partnerships following the deal.
“We are convinced that Ace Management’s new investment will help the company to improve and accelerate its solutions that enable the world’s biggest governments and commercial enterprises to identify and protect against the most intense cyber threats,” said François Lavaste, partner at Ace Management, who will join EclecticIQ’s board of directors.