NEW YORK–(BUSINESS WIRE)–CIBC Innovation Banking announced today 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 support threatER’s scale-up as they strive 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 unique cybersecurity solution blocks traffic from all known bad actors from entering and leaving your network while allowing traffic to and from known good locations, all in real-time. By blocking known bad traffic at scale, threatER is not only making a company’s network, data and users more secure, it’s also making their existing security infrastructure more efficient.
With over 350 customers across the globe, threatER is dedicated to helping enterprises improve their network security posture while also improving performance on their network and reducing costs and alerts. Leveraging state-of-the-art and patented technology, 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.
Brian McMahon, CEO of threatER, said, “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.”
Ben Shephard, Executive Director at CIBC Innovation Banking, said: “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.”
threatER was recently named to the prestigious Inc. 5000 list of Fastest Growing Companies for 2024. threatER said that the financing will be used for general working capital and success-based expenditures related to its expanding network protections to an organization’s security stack.
“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.
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, San Francisco, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.
About threatER
threatER is a comprehensive cybersecurity platform that provides active network defense by automating the enforcement, deployment, and analysis of cyber threats at scale. threatER offers a wide range of solutions to proactively and automatically safeguard organizations against cyber threats. Their patented solution effectively blocks all known threats, enabling the rest of the modern cyber security stack to do its job more efficiently. Your security stack is better with threatER. For more information, find us at threatER.com.
Contacts
Beth McKay, [email protected], 416-552-1391
