Managed cybersecurity startup Huntress raises $40M in debt financing
Managed cybersecurity platform startup Huntress Labs Inc. said today it has raised $40 million in debt financing from CIBC Innovation Banking to pursue merger and acquisition opportunities, research, product development and expansion into international markets.
Founded in 2015, Huntress offers a cybersecurity platform with managed endpoint detection and response. The company’s platform uses automated detection and human-powered threat hunting to find and stop hidden threats, including those that bypass traditional security tools.
Designed to protect small and midsized businesses from modern cyberattacks, the company’s platform protects businesses throughout the modern attack lifecycle. The Huntress Managed Security Platform includes protection against persistent footholds, eliminating attackers in plain sight, and against what it calls “ransomware canneries,” small, lightweight files placed on all protected endpoints that enable faster detection of potential ransomware incidents.
The Huntress platform also offers managed antivirus services, including centrally managing detections and events, monitoring scans and protections, setting exclusions and executing remediation actions for all protected endpoints. The company’s External Recon feature monitors for potential exposures caused by open ports connected to remote desktop services and shadow information technology to identify ways to improve external security postures.
For SecOps and security network professionals, Huntress also providers cybersecurity education and resources. The service allows users to discover hacker tradecraft, elevate their security expertise and have more actionable client conversations.
The company’s growth strategy includes mergers and acquisitions. Huntress acquired security awareness training platform Curricula Group Inc. for $22 million in July. The deal was described as adding a critical layer to Huntress’ growing managed security platform, delivered through an interactive eLearning experience that empowers employees to become their own line of defense in the fight against attackers.
“We’re just getting started with our build-and-buy strategy to help businesses strengthen their preventive security efforts,” Marcos E. Torres, chief financial officer of Huntress, said in a statement. “With our level of maturity in M&A and deal structuring, we’ll continue to acquire and develop assets that solve business and technical problems for our partners.”
Coming into the new debt financing, Huntress had previously raised $59.8 million in venture capital funding, according to Crunchbase. Investors in the company include JMI Equity Partners, Forgepoint Capital, SaaS Ventures, StoneMill Ventures, Blue Venture Investors and Gula Tech Adventures.
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