CounterCraft raises $5.0 million to scale-up cyber deception platformeCAPITAL NEWS
Today Spanish start-up CounterCraft, internationally-acclaimed cyber deception and counterintelligence software provider, announces a $5.0m funding round led by Adara Ventures, with participation from eCAPITAL, ORZA, The Red Eléctrica Group, Evolution Equity Partners, and Wayra. This round of funding will enable CounterCraft to scale its go-to-market strategy beyond Europe and the UK in support of plans for significant expansion in the US.
CounterCraft, founded in 2015, is recognized worldwide for its radical contribution to the threat intelligence and threat detection market and operates with more than 20 Fortune500 companies globally, including financial institutions, critical infrastructures, governments and law enforcement agencies.
CounterCraft is a platform that uses advanced technology to detect security incidents early, capture unique insight into adversaries’ motives and methodology, and proactively manage attacks in real time. Organizations can even influence an attackers’ movements using CounterCraft, and in doing so, significantly reduce security spend thanks to the kind of highly personalized and actionable threat intelligence the platform delivers
David Barroso, Founder & CEO at CounterCraft
The company is present in London, Washington, Madrid and San Sebastian (Spain).
Deception technology is an emerging category of cybersecurity that follows a step change in security thinking and an increase in attacks that are targeted at specific organisations. Dan Brett, CSO at CounterCraft, adds: “We’ve always recognized that cyber counterintelligence enriches and complements the traditional security toolset, yet historically, it has been frustratingly manual and resource-consuming to detect, study and engage with the bad actors specifically targeting you. Our product has been developed to automate and manage this process. CounterCraft makes early threat detection very accessible across all major markets and verticals.”
Alberto Gomez, Managing Partner of the lead investor Adara Ventures, says: “We continue to be inspired by the combination of engineering ability and vision that CounterCraft has shown in defining a new category of defensive tool that responds to the current threat landscape. Nothing else we have seen effectively uses a Know-Your-Attacker stance to turn the tables on threat actors. We are now excited about CounterCraft’s prospects for expanding its presence with sophisticated, large clients in the U.S. and European markets.”
A strong list of customers and cybersecurity partnerships prove the value of CounterCraft in complementing existing security measures, detecting threat actors, and deploying a proactive cyber defence.
The company is backed by venture capital firms Adara Ventures, ORZA Investments, Wayra (Telefonica Innovation Hub), and the global cybersecurity investor Evolution Equity Partners. eCAPITAL and The Red Eléctrica Group (through its technological firm) join as new investors in this financing round.
Dirk Seewald, Partner at eCAPITAL, summarizes: “With CounterCraft we have a team of cyber security experts building the product they were looking for in their previous organizations’ operational roles. Their customers love the product and the team. We are glad to join this group of renowned investors in this financing round.”
CounterCraft’s mission is to bring cyber threat defense to every organization. The CounterCraft Threat Deception Platform fits seamlessly into existing security strategies and delivers personalized, actionable intelligence to facilitate early threat detection, to accelerate incident response and to take proactive responses. Their award-winning solution uses powerful automation features to reduce operator workload while providing forward leaning cyber defenses.
CounterCraft focuses on Fortune500 clients operating in the financial, critical infrastructure and government sectors. Founded in 2015, CounterCraft is present in London, Washington and Madrid, with R&D in San Sebastian, Spain.
eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany, currently manages funds with over EUR 220 million under management and was lead investor of some very successful German exits like sonnen or Novaled.