Investment round led by Keen Venture Partners with current shareholders also participating. Importance of threat intelligence for a strong cyber security posture is rated as ‘very high’ by majority of organisations’ security leads. At least 30 new hires expected in Netherlands, UK, and USA offices in the short-term.
EclecticIQ, the global provider of Cyber Threat Intelligence technology solutions and Fusion Center operator today announced a Series-B investment of €14 million. The investment round is led by Keen Ventures Partners with the participation of existing investors. This investment follows a Series-A investment in May 2016 of €5.5 million led by INKEF with KPN Ventures also participating. Investment in the organisation now totals over €20 million.
Founded in 2014, EclecticIQ employs a team of 60 with unique skills and strong analyst backgrounds. It holds offices in Amsterdam, London, and Herndon (Virginia, USA). The Series-B investment makes EclecticIQ one of the best-funded cyber security scale-ups in Europe. It will lead to accelerated expansion of its workforce, with a focus on expanding its portfolio of technologies and capabilities of its Fusion Center offering.
EclecticIQ supports dedicated teams of threat analysts working continuously to de-risk an organisation’s cyber profile by building an accurate picture of its cyber threat landscape. Previously, threat intelligence capabilities were only found at organisations with the highest risks such as Governments, Critical National Infrastructures and regulated industries such as banking. Today, threat intelligence is on the agenda of many organisation’s boardrooms due to advanced attacks that often reach mainstream media and regulation requirements such as the upcoming EU General Data Protection Regulation (GDPR) and the Cybersecurity Information Sharing Act (CISA).
“EclecticIQ plays a pivotal role in supporting our customers and partners in their fight against the accelerating landscape of cyber threats. Agility and human enablement is key in bringing back balance in our fight against cyber adversaries.” said Joep Gommers, CEO and founder of EclecticIQ. “We’re in a unique position to not just enable analysts with the tools they require to be as productive as they can be, but also to give them access to the world’s leading intelligence suppliers without the hassle of complicated integration and procurement.”
Watch the EclecticIQ Series-B announcement video message (1.5 minutes).
EclecticIQ Platform provides an advanced analyst-centric toolset and intelligence reporting capability, including automated instrumentation of IT Security Controls for prevention and detection. It is the market-leading Threat Intelligence Platform for national governments, due to its scalability and on-premise offerings that meet the most demanding intelligence requirements.
EclecticIQ Fusion Center further empowers analysts by giving unified access to the world’s supply of leading threat intelligence suppliers, thereby enhancing in-house analysts’ efficiency, capability, and freeing up time to research advanced threats and hunt for unknown risks.
Many organisations kick-start or scale their threat intelligence capabilities as the number and complexity of cyber threats continue to rise. Actionable intelligence drives internal decision-making at various levels from Security Operations and Incident Response to C-level executives. By sharing intelligence with trusted partners, organisations collaborate to build an active shield against existing and future attacks.
“Impressed by the technology, the team and the huge potential of this market, Keen is proud to further support the spectacular growth of EclecticIQ” said Alexander Ribbink, General Partner at Keen.
Challenges that organisations report include, amongst others, finding threat analysts and lack of staff expertise. To make cyber threat intelligence accessible to organisations with a lower cyber maturity capability, less resources and smaller budgets, EclecticIQ will further develop its product portfolio and support mid-market through modularisation.
As a first step towards this goal, EclecticIQ Fusion Center Intelligence Essentials, was announced last week, enabling organisations to kick-start their threat intelligence activity. It is offered entirely online, includes a free trial, can be acquired directly and consumed immediately without complex setup.