Beauceron Security, which helps organizations manage cyber risk, has raised $1.5 million in a second seed round led by the New Brunswick Innovation Foundation. Participating investors include Opportunities New Brunswick, Mariner Partners, East Valley Ventures, First Angel Network, CyLon, and several angel investors.
“Beauceron Security is one of the reasons New Brunswick has become known around the world for our expertise in cybersecurity,” said Stephen Lund, CEO of Opportunities NB. “Their success speaks to the growing cluster of innovative cybersecurity activity in New Brunswick.”
Beauceron’s platform allows companies to automate cybersecurity management, as unique personal, departmental, and organizational risks scores are created by Beauceron’s proprietary algorithm to help individuals and organizations make informed decisions on managing personal and corporate cyber risk. The funding will allow Beauceron to build out its product roadmap, increase its sales and marketing efforts, and recruit new partner firms around the world.
Beauceron said it has doubled its client base in the past three quarters, with 55 customers in finance, insurance, energy, manufacturing, IT, higher education, and government. The company has partnered with national and regional security firms in Canada, the United States, and Europe to help bring its technology to market.
“It has been a pleasure to work with dozens of clients across North America and now in Europe to help change the cybersecurity story for small, medium and enterprise-sized businesses,” said David Shipley, co-founder and CEO of Beauceron Security. “We would not have enjoyed our success to date without the ongoing support of our funding partners. Now, we are poised for continued growth.”
Beauceron Security is the first Canadian company accepted to CyLon, a global cybersecurity accelerator that focuses on finding, growing and investing in the world’s best emerging cybersecurity businesses. “We saw something special in Beauceron’s approach to managing cyber risk. Their solution is appealing to everyone from enterprise-scale clients to small and medium-sized businesses,” said Kirsten Connell, managing director of CyLon.