Beauceron Security Keeps Growing With $1.5-Million In New Investments
FREDERICTON – New Brunswick-based Beauceron Security, which helps organizations effectively manage cyber risk, announced today it has raised $1.5-million in a second seed round.
The seed round was led by the New Brunswick Innovation Foundation and also included Opportunities New Brunswick, Mariner Partners, East Valley Ventures, First Angel Network, CyLon and numerous angel investors.
The funding will allow the company to build out its product roadmap, increase its sales and marketing efforts and recruit new partner firms around the world.
Born out of 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-sized businesses,” said David Shipley, Co-founder and CEO of Beauceron Security, in a release.
“We would not have enjoyed our success to date without the ongoing support of our funding partners. Now, we are poised for continued growth.”
The company 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. It 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-sized 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,” said Ray Fitzpatrick, director of investments with the New Brunswick Innovation Foundation. “The future looks very bright for Beauceron.”
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