Tessa Bousfield posted an articleVictoria-based HYAS Secures $2 Million in Financing from Silicon Valley Bank (Following $6.7M Series-A Round in August)HYAS entered into a debt financing agreement with Silicon Valley Bank. see more
Victoria-based HYAS Secures $2 Million in Financing from Silicon Valley Bank (Following $6.7M Series-A Round in August)
Victoria, BC, November 29, 2018--(T-Net)---HYAS, a leading provider of attribution intelligence solutions for infosec and cybersecurity professionals, today announced that it has entered into a debt financing agreement with Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors.
This agreement provides up to $2 million in new capital that will be used to transform its Comox attribution intelligence engine into a holistic platform that enables enterprises to analyze clearly-defined threat data, mitigate attacks and ultimately, track hackers right to their doorstep.
"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, 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."
"We are excited to work with HYAS and impressed with their innovative approach to cybersecurity," said Minh Le, 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."
HYAS' Comox engine already provides Fortune 100 companies with billions of exclusive, proprietary threat indicators. The company 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.
HYAS' mission is to build products and services that pinpoint the perpetrators of cyber attacks and work closely with clients and international law enforcement in order to bring bad actors to justice.
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.
For more information on HYAS and its services, please visit www.hyas.com.
HYAS is a venture-backed startup that provides attribution intelligence solutions to help InfoSec and cybersecurity professionals identify threats and the cybercriminals behind them. Its online detection, analysis and investigation tools are powered by exclusive datasets that give HYAS an unparalleled view into malicious activity and the infrastructure used to conduct it. HYAS' proprietary database of cybercrime indicators contains billions of data points, with millions of new points added every day. Unlike other cybersecurity service providers, HYAS focuses on pinpointing the perpetrators of these digital attacks and works closely with clients and international law enforcement to bring them to justice.
About Silicon Valley Bank
For 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
Tessa Bousfield posted an articleGiftbit accepted into Founders' Co-op family see more
Giftbit is a Victoria, BC company that helps large-scale issuers of digital gift credits (think brands like Starbucks, Amazon and eBay) and volume buyers of those credits (pretty much any digital brand that uses gift credits as a promotional incentive in their online marketing campaigns) work together to effortlessly transact, distribute and manage those campaigns. The team came to Seattle last fall to participate in Founders' Co-op "Techstars Seattle" class of 2015, one of two Canadian companies that joined them for that class. (They have two more Canadian teams in this year’s class of nine companies, one from Ottawa and one from Toronto, and are loving the easy cross-border flow of talent and ideas between Seattle and our neighbor to the north).
Founders' Co-op knew they wanted to invest almost from the moment Giftbit arrived in program, but they also knew they’d need a bigger raise than they had the capacity to lead. In addition to promoting their regional and cross-border startup ecosystem, another part of Founders' Co-op's mission is to develop entrepreneurial opportunities that attract capital from great investors outside the Pacific Northwest. Not only does this help them fund more strong companies here, it also introduces new investors to the Cascadia market and increases the overall availability of risk capital in our ecosystem. They introduced the Giftbit team to some of their favorite seed-stage funds in Silicon Valley — firms that had shown an appetite to invest in this region even at the earliest stages.
One of these firms — Freestyle — had already raised their hand by leading the Seed round for TrueFacet, a Techstars Seattle 2014 company also backed by Founders’ Co-op and Maveron. Freestyle partner Jenny Lefcourt is a friend (and fellow Stanford GSB ’99 dropout), and she dug deep on the Giftbit team and opportunity before deciding to lead the round and join the company’s board.
Founders' Co-op is thrilled to back another Canadian startup and Techstars Seattle graduate, and doubly thrilled to be doing so alongside a great, founder-led Bay Area seed fund with a demonstrated appetite to invest in the Pacific Northwest. Congrats to Jenny and the Freestyle team on another great raise, and to Leif, Peter and the Giftbit team on lining up such a great investor syndicate.