EDB unit backs cybersecurity company CounterTack

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.