Daily News: November 29, 2018

SVB Secures $2MM Financing for Infosec Company HYAS

Silicon Valley Bank entered into a $2 million debt financing agreement with HYAS, a provider of attribution intelligence solutions for infosec and cybersecurity professionals.

The agreement will provide new capital to transform HYAS’ Comox attribution intelligence engine into a holistic platform that enables enterprises to analyze clearly-defined threat data, mitigate attacks and ultimately, track hackers right to their doorstep.

“Silicon Valley Bank’s support builds on our successful Series A and allows us to aggressively expand the Comox platform through our incredibly talented pool of developers,” said Jeff Spencer, chief operating officer of HYAS. “Over the past quarter alone, we’ve hit the critical development milestones that will allow organizations to predictively block bad actor infrastructure before it’s had the chance to do bad things. They’ll be able to prepare for and mitigate the biggest threats to their operations.”

“We are excited to work with HYAS and impressed with their innovative approach to cybersecurity,” said Minh Le, market manager of Washington and Western Canada at Silicon Valley Bank. “As cybersecurity threats continue to grow and evolve, HYAS’ products, services and access to actionable threat data are increasingly important.”

HYAS’ Comox engine already provides Fortune 100 companies with billions of exclusive, proprietary threat indicators. The company plans to expand its offerings over the next quarter to include Saltspring, a cloud-based tool that provides early warnings of global attacks in real time.

The company recently secured a $6.7 million Series A round led by M12, Microsoft’s venture fund, with additional funding from Susa Ventures, an early-stage technology fund based in San Francisco.