Victoria-based Cybersecurity Start-up HYAS Raises $20 Million Series B Round
Betakit recently reported that HYAS, a Victoria, British Columbia-based cybersecurity start-up, has raised CAD$20 million in its Series B financing round. The round was led by Austin, Texas-based S3 Ventures with additional participation from Uncorrelated Ventures, Tightline Holdings, Cyber Mentor Fund, and Dcode Capital. M12, Startup Capital Ventures, and 205 Capital, who all previously invested in HYAS, also participated in the round. Charlie Plauche, partner at S3 Ventures, will join HYAS’ board of directors. The financing will support HYAS as it seeks to develop its “cyber attack infrastructure identification and blocking technology”. Specifically, HYAS will use the funds to accelerate product development and market expansion.
HYAS was founded in 2015 and “offers a security solution that integrates into a company’s existing security tech stack, in order to proactively detect and prevent cyber threats before they happen”. HYAS currently has a number of Fortune 100 companies in its portfolio of clients. Cybersecurity is a growing market and Deloitte’s Cyber Intelligence Center has noted an increase in cyberattacks during the COVID-19 pandemic. It is certainly an exciting time for the cybersecurity sector, especially as it is predicted that global enterprises will spend US$12.6 billion on cloud security tools by 2023.
Author: Andrew Patel
Authors
Expertise
Insights
-
Technology
IFS to Acquire Copperleaf Technologies Inc. – A Strategic Move in Enterprise Decision Analytics
Copperleaf Technologies Inc. is a software company that delivers enterprise decision analytics solutions tailored for organizations managing critical infrastructure. On June 11th, 2024, Copperleaf… -
Technology
BC CICE: Non-Dilutive Investment Opportunity for Wildfire Technologies
What is the British Columbia Centre for Innovation and Clean Energy (BC CICE)?The BC CICE is an independent, not-for-profit corporation with the goal of moving towards a net-zero carbon future… -
Technology
Sword Health – Making Moves in Virtual Care
On June 4, 2024, AI-powered virtual and digital physical therapy startup Sword Health closed a $130 million USD round of financing. This brings Sword Health's total funding to $340 million and raises… -
Technology
How Apple and OpenAI are Revolutionizing the iPhone Experience
On June 10, 2024, Apple and OpenAI announced a partnership – allowing for the formal integration of OpenAI’s groundbreaking technology into Apple’s forthcoming iOS software.While this partnership is… -
Technology
Tumblr Communities Feature
Last month, blogging platform Tumblr announced the launch of its new Communities feature in open beta and is testing the feature among select web users. The announcement comes six months after the… -
Technology
Google I/O Conference Unveils Newest Offerings
Two weeks ago, Google hosted its annual developer conference “Google I/O”, announcing its new wave of inventions and software capabilities.While the conference was geared towards developers, it…