Ara Labs secures a $500,000 investment from New Brunswick Innovation Foundation (NBIF) and Technology Ventures Corporation

Fredericton-based Ara Labs Security Solutions has received a half million investment from both the New Brunswick Innovation Foundation (NBIF) and Technology Ventures Corporation. Both companies will be giving $250,000 to help make the internet more secure and launch a new internet security service to market.

Ara Labs has four founding partners — Hadi Shiravi, Ehsan Mokhtari Ali Shiravi and Dr. Ali Ghorbani — and their software-as-a-service technology detects, reports and mediates malware and botnet activity across the Internet in real-time. What is unique about Ara is that they have the ability to detect infections without internal access to an organization’s network by using the IP address and geographical location.

NBIF chair Robert Hatheway said, “When Ara Labs first pitched their business to us back in August 2013, we could see the desirability of their system immediately, especially considering the enormous amount of Internet fraud perpetrated every year, and how it hits the bottom line of some of the world’s largest corporations. Since then, we’ve been working with the company to raise the capital it needs to get its product to market and put to use immediately.”

Every year, infections software costs the global economy approximately $1 trillion.

Ian Hardy

Ian Hardy

Ian is publisher at MobileSyrup. He's been quietly creating and building things for years and is completely addicted to Tim Hortons.