CIBC Innovation Banking provided a growth capital financing facility to threatER, a cyber defense category company focused on eliminating cyber threats before they reach the network. This growth capital will support threatER’s scale-up as the company strives to help medium-sized businesses and enterprises, especially in financial services, healthcare and legal, protect their business from cyberattacks and increasingly sophisticated digital bad actors._x000D_
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“Our ability to swiftly complete this transaction reflects both investors’ confidence in our cyber-strategy as well as our proven ability to execute on our business plans,” Brian McMahon, CEO of threatER, said. “This additional financing will allow threatER to fully implement our expansive roadmap as we break through the profitability milestone.”_x000D_
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“threatER has demonstrated in the market, through daily use, how their product adds value to their customers, protects customer operations and provides a potent tool that IT departments can deploy to shield their infrastructure,” Ben Shephard, executive director at CIBC Innovation Banking, said. “We are excited to work with threatER and be a part of their mission.”_x000D_
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“threatER provides much needed innovation with next-generation software architecture and a data-driven solution to proactively combat cyberattacks and protect enterprise customers,” Joyce Shen, investor at Tenfore Holdings and board director of threatER, said. “We are excited for CIBC to partner with threatER for this next phase of growth.”
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