Beauceron Security Raises $1.5 Million Seed Round Led By New Brunswick Innovation Foundation
--Fredericton-based Cybersecurity Firm Has Users in 27 Countries—
FREDERICTON, CANADA—Beauceron Security, which helps organizations effectively manage cyber risk, announced today it has raised $1.5 million in a second seed round led by the New Brunswick Innovation Foundation that also included Opportunities New Brunswick, Mariner Partners, East Valley Ventures, First Angel Network, CyLon and numerous angel investors.
The funding will allow the rapidly growing company to build out its product roadmap, increase its sales and marketing efforts and recruit new partner firms around the world.
Born from innovation developed at the University of New Brunswick’s IT department, Beauceron is a cloud-based platform designed to make it faster, easier and less complex for organizations of all sizes to understand their cyber risk and take actions to reduce it.
“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-size 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 has doubled its client base in the past three quarters, and now counts more than 55 customers in finance, insurance, energy, manufacturing, IT, higher education and government. Tens of thousands of users from 27 countries work with the Beauceron platform. Beauceron has partnered with leading national and regional security firms in Canada, the United States and Europe to help bring its innovative technology to market and to attract clients ranging from small and medium-size businesses to Fortune 500 companies.
“Beauceron Security is a true success story. Their made-in-New Brunswick innovative approach to managing cyber risk is earning the company significant interest in the nearly $100 billion global cybersecurity market. The future looks very bright for Beauceron,” said Ray Fitzpatrick, Director of Investments with the New Brunswick Innovation Foundation.
Beauceron helps organizations move towards a cyber safety culture throughout the organization, empowering everyone from front line staff to management and senior leadership. Unique personal, departmental and organizational risks scores created by Beauceron’s proprietary algorithm to help individuals and organizations make informed decisions on managing personal and corporate cyber risk.
“Beauceron Security is one of the reasons New Brunswick has become known around the world for our expertise in cybersecurity,” said Stephen Lund, CEO, Opportunities NB. “Their success speaks to the growing cluster of innovative cybersecurity activity in New Brunswick.”
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 with CyLon.
About New Brunswick Innovation Foundation
Since its launch 15 years ago, the New Brunswick Innovation Foundation, an independent, non-profit corporation, has invested over $100 million in New Brunswick startups and researchers and leveraged $457 million more from other private and public sources. Those strategic investments have helped launch over 100 companies and funded nearly 500 applied research projects. Profits from NBIF’s investments go back into the foundation for reinvestment in other startups and research initiatives that drive innovation, attract investment and create jobs in New Brunswick. Find out more at nbif.ca.
CEO, Beauceron Security
Phone: (877) 516-9245
New Brunswick Innovation Foundation
Phone : 506-977-4755