CounterCraft closes $5m of funding to take best in class Threat Detection & Intelligence platform to the US market
Alberto Gómez, Managing Partner, Adara Ventures
CounterCraft, a global leader in threat detection and intelligence technology, has recently closed $5 million in funding. Alongside Adara Ventures, Wayra, Evolution Equity Partners and ORZA, the business welcomes eCapital and Red Eléctrica to its list of European investors.
We initially backed CEO David Barroso and the team in their seed round back in 2016. Since then, we’ve been impressed with their truly groundbreaking approach to proactive cybersecurity defence and we’re delighted to participate in this round.
A bridge to the US, following a breakout year in 2019
Recognized internationally by over 25 cyber security institutions for its radical approach to innovation in the threat detection and intelligence technology market, CounterCraft operates with more than 20 Fortune500 Index clients in the financial, critical infrastructure, government and law enforcement sectors.
The new investment will be used to propel the company’s plans to acquire greater market share in Europe and the US, where the company enjoyed a breakthrough year in 2019, culminating in winning the “New Generation Cyber Deception” award for its ground-breaking contribution to the US cyber security market.
Threat Detection and Intelligence: the proactive approach to combating cybercriminals
The CounterCraft Threat Deception platform uses ground breaking security engineering for Threat Detection, Threat Intelligence and Proactive Threat Defence.
At present, enterprises and institutions predominantly use post-breach tools to combat cyberattackers, meaning that Security Teams are surprised by attacks (late threat detection), are unprepared for threats (little threat intelligence), and are only able to clean up (lack threat engagement abilities) rather than divert and dissuade threat actors.
With CounterCraft, key stakeholders get more time to respond to advanced and rapidly evolving threats. The platform continuously generates highly relevant threat intelligence elicited from threat actors. Defenders benefit as CounterCraft integrates with incident response workflows and proactively reconfigures defensive systems in real time to mitigate risks from ongoing attacks.
The platform comes prepared with a set of common use cases that can be automatically deployed at the touch of a button, including:
● Remote Worker Protection — VPN abuse — Detection & Threat Intelligence
● Pre-Breach Activity — Detection & Threat Intelligence
● Spear Phishing Response — Threat Intelligence
● Lateral Movement — Detection
The Adara view: doubling down on best in class cyber technology
We’re excited to continue partnering with CounterCraft as they capitalise on impressive US growth during 2019. David, Dan and the team are perfectly positioned to drive real change in Enterprise & Institutional cybersecurity strategy.
This investment underlines Adara’s commitment to backing the best cybersecurity founders in Europe and follows our investments in Hdiv, 4iQ and exit of Alienvault to AT&T during the last 18 months.
About the Author
Alberto is co-founder and Managing Partner of Adara Ventures, an early-stage venture capital firm managing over €180 million in capital, and dedicated to investments in deep-tech companies addressing enterprise (B2B) markets. His investments include: AlienVault (sold to AT&T), Stratio, 4iQ, Playgiga (sold to Facebook), and Openbravo.