CIBC Innovation Banking is pleased to announce it has provided $40 million of debt financing to Huntress, a managed cybersecurity platform for small and mid-sized businesses (SMBs). Huntress plans to use the financing for M&A opportunities, research, product development, and expansion into international markets across Canada, the UK, Europe, Australia and New Zealand.
“Huntress is growing faster than ever,” said Kyle Hanslovan, CEO, Huntress. “In a market surrounded by increasingly expensive capital, CIBC Innovation Banking’s team understood our needs as a high-growth startup. With their help, we’ve already made a strategic acquisition, launched new managed security products and more. We’re thrilled that CIBC Innovation Banking supports our vision for the future—this investment will help us continue innovating as we further our mission to protect small and midsized businesses.”
Huntress recently acquired Curricula, an engaging security awareness training platform that uses story-based learning to communicate cyber risk to employees.
“We’re just getting started with our build-and-buy strategy to help businesses strengthen their preventive security efforts,” said Marcos E. Torres, CFO, Huntress. “With our level of maturity in M&A and deal structuring, we’ll continue to acquire and develop assets that solve business and technical problems for our partners.”
“The Huntress team continues to generate strong growth throughout North America and is poised to become an international market leader helping small and mid-sized businesses with their security needs,” said Paul Gibson, Managing Director in CIBC Innovation Banking’s Reston, VA office. “Our team looks forward to assisting Huntress with the capital needed to fuel that growth."
The company’s existing investors include JMI Equity Partners, Forgepoint Capital, Gula Tech Adventures.
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S., Canada, the UK, and select European markets.
About Huntress
Hackers are constantly evolving, exploiting new vulnerabilities and dwelling in IT environments—until they meet Huntress.
Huntress protects small and mid-sized businesses from modern cyberattackers. Founded by former NSA Cyber Operators—and backed by a team of 24/7 threat hunters—our managed security platform defends businesses from persistent footholds, ransomware and other attacks.
We're on a mission to secure the 99%. Learn more at www.huntress.com and follow us on social @HuntressLabs.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220907005237/en/
Contacts
Katarina Milicevic, katarina.milicevic@cibc.com, 416-586-3609
