EDB unit backs cybersecurity company CounterTack
It joins other investors to put in US$15m of Series C funding; plans to help firm expand in Asia
Singapore
IN a boost to Singapore's efforts to become a cybersecurity hub, EDBI, the Singapore Economic Development Board's investment arm, has teamed up with a number of investors to put in US$15 million of Series C funding for US cybersecurity company CounterTack, which has developed a unique technology to use big data to detect threat patterns and anticipate online attacks. With this investment, EDBI plans to help the company expand in Singapore and Asia.
The Series C funding is led by TenEleven Ventures, with new investors including EDBI and Mitsui. They join CounterTack's current investors which include Goldman Sachs, Fairhaven Capital, Siemens Venture Partners, Razor's Edge, OnPoint Technologies (investment fund of US Army) and Alcatel-Lucent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
EU demands clarity from Microsoft on AI risks in Bing
Google focuses on security with next version of Android software
Are floating cities the solution to rising seas?
Apple scores win in labor case involving fired retail workers
Brokers’ take: DBS cuts Venture Corp price target after Q1 earnings miss
Garmin’s Q1 results beat on strong demand for fitness, auto products