Cybersecurity platform HYAS receives $475,000 from Western Innovation Initiative

cybersecurity

Victoria-based HYAS, which develops intelligence tools to help InfoSec and cybersecurity professionals identify threats and cybercriminals, has received a $475,000 investment from Western Economic Diversification Canada’s Western Innovation Initiative (WINN).

Earlier this month, HYAS raised a $6.2 million Series A led by Microsoft’s Venture Fund M12. The company has developed Comox, an attribution intelligence platform that allows users to access threat indicators. Specifically, the platform provides visibility for analysts, threat researchers, and investigators who can search and cross-reference proprietary data about cybercrime indicators.

“I’m pleased to see that HYAS Infosec is leveraging its impressive cybersecurity experience to create new economic opportunities and meet the demands of this growing international market.”

“As the economy changes and becomes increasingly knowledge-based, it’s important that we encourage Canada’s competitiveness by supporting companies that are at the forefront of this digital transformation,” said Navdeep Bains, the minister of innovation, science, and economic development and the minister responsible for Western Economic Diversification Canada. “I’m pleased to see that HYAS Infosec is leveraging its impressive cybersecurity experience to create new economic opportunities and meet the demands of this growing international market.”

 
WINN is a five-year federal initiative that provides repayable contributions to SMEs in Western Canada.

HYAS said it will use WINN’s investment to grow its team and commercialize the next generation of its cybersecurity platform called Saltspring. Saltspring will provide real-time visibility into attacks and breaches across global networks, and help clients identify malware on a global scale.

“Our mission is to provide business owners with the advanced tools they need to effectively prevent cyberattacks and identify the individuals behind them,” said Jeff Spencer, the COO of HYAS. “This new funding will greatly enhance our ability to deliver on that mission while cultivating an exceptional company culture that attracts Canada’s best talent in the process.”

Photo via Unsplash

Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.