EclecticIQ the threat intelligence technology provider has secured €5.5 million ($6.2 million) in a series A funding round led by NKEF Capital and KPN Ventures. The company has already secured a €1.5 million funding as committed capital which brings the total investment to €6.5 million, or $7.3 million. The threat intelligence company will be using the funding for strengthening its base as well as sectorial and geographical expansion. The current investment represents the largest European series A funding in cyber security technology.
Headquartered in Amsterdam, EclecticIQ is into applied cyber intelligence technology that enables enterprise security programs and governments to mature a Cyber Threat Intelligence (CTI) practice. It allows cyber analysts to take back control of their threat reality and mitigate exposure accordingly. Its flagship product, EclecticIQ Platform, is a Threat Intelligence Platform (TIP), which enables operationalization of security information exchange, empowers collaborative analyst workflow and ensures timely integration of cyber threat intelligence detection, prevention and response capabilities.
Corné Jansen, Director at INKEF Capital, says, “We are excited to join EclecticIQ as a shareholder; EclecticIQ’s fundamental belief that the end-user should be at the center, leading to a better and more efficient CTI process really resonates with us. EclecticIQ’s approach already delivers significant value to early enterprise customers in government and financial services, and we expect adoption to accelerate quickly.”
EclecticIQ claims that governments and financial institutions are its core markets as an investment in technology for financial institutions, to manage cyber threats, not only provides stronger protection for ongoing operations, but also enables greater evaluation of emerging approaches to service delivery. For government agencies, this provides a way for analysts to share critical information across jurisdictional and agency boundaries, improving the preventative capability and response time of Computer Emergency Response Teams.
Joep Gommers, CEO and Founder of EclecticIQ, says, “The technology of aggregating multiple sources of intelligence is important, and we are recognized as leading the CTI market in that regard, however process enablement is where our technologies really make a difference. EclecticIQ focuses on incorporating analysts’ insights into enterprise workflows.”
According to the cyber threat intelligence company, enterprise Chief Information Security Officers globally are building external-facing CTI practices to provide a faster and more effective response to cyber threats. Threat analysts from a CTI practice, empowered with the best available cyber threat information and technologies, work in direct consultation with business units to improve the security posture of a wide range of stakeholders.