HYAS receives $2 million in venture debt from Silicon Valley Bank

Infosec and cybersecurity company HYAS has announced that it has entered into a debt financing agreement with Silicon Valley Bank (SVB).

The agreement provides up to $2 million in new capital towards developing HYAS’ Comox attribution intelligence engine—which gives companies insight into proprietary threat indicators—into a platform that enables enterprises to analyze threat data and mitigate cyberattacks.

“Silicon Valley Bank’s support builds on our successful Series A and allows us to aggressively expand the Comox platform through our incredibly talented pool of developers,” said Jeff Spencer, the COO of HYAS. “Over the past quarter alone, we’ve hit the critical development milestones that will allow organizations to predictively block bad actor infrastructure before it’s had the chance to do bad things. They’ll be able to prepare for and mitigate the biggest threats to their operations.”

HYAS plans to expand its offerings over the next quarter to include Saltspring, a cloud-based tool that provides early warnings of global attacks in real time. The company recently secured a $6.7 million Series A round led by M12, Microsoft’s venture fund, with additional funding from Susa Ventures, an early-stage technology fund based in San Francisco. It additionally received a $475,000 investment from Western Economic Diversification Canada’s Western Innovation Initiative (WINN) in August 2018.

“We are excited to work with HYAS and impressed with their innovative approach to cybersecurity,” said Minh Le, the market manager of Washington and Western Canada at Silicon Valley Bank. “As cybersecurity threats continue to grow and evolve, HYAS’ products, services and access to actionable threat data are increasingly important.”