EclecticIQ raises €20 million in Series C funding
~ Investment led by Ace Management ~
~ Total investment in the organization over four-year period tops €47 million ~
Other contributors to the funding round include Capricorn Digital Growth Fund and Quest for Growth, Invest-NL, Arches Capital and existing investors INKEF Capital, KEEN Venture Partners and KPN ventures. This brings the company's total funding raised to €47 million over a four-year period, making it among the best funded global cybersecurity scale-ups based in Europe.
Funding will go towards deepening the company's commitment to government, large enterprises and service providers, expanding its portfolio and increasing the company's global footprint. With this investment EclecticIQ will accelerate its strategy to transform from a leading threat intelligence platform vendor into an innovative cybersecurity leader across the globe.
As cyber threats continue to evolve rapidly, intelligence-
Having mastered threat intelligence technology, the company sees adjacent opportunities
To accelerate growth, EclecticIQ will use the funding to expand its commercial teams in Europe and the United States, and establish a presence in the Middle East, Africa and Asia Pacific. Leveraging its experience with governments, and some of the most targeted enterprises globally, the company will expand its focus to new segments and strengthen its global partner ecosystem.
François Lavaste, Partner at Ace Management who will join EclecticIQ's board of directors, said: "We are convinced that Ace Management's new investment will help the company to improve and accelerate its solutions that enable the world's biggest governments and commercial enterprises to identify and protect against the most intense cyber threats."
Joep Gommers, EclecticIQ's co-founder and chief executive officer said, "It is exciting to bring in a high-caliber cyber investor like Ace Management, which shares our vision of threat intelligence at the core of cybersecurity, and sees the opportunity to transform the industry by solving massive challenges faced in threat detection, hunting and response. This financial investment will enable EclecticIQ to drive the industry forward and support our clients more effectively facing an ever-evolving threat landscape."
EclecticIQ has seen impressive growth over the years:
Bryan, Garnier & Co acted sole financial advisor and sole placement agent for EclecticIQ.
To learn more about the funding and what the company is doing with the investment read the blog post by Joep Gommers here.
About Ace Management
Ace Management, a subsidiary of Tikehau Capital, is a private equity firm specialised in strategic industries and technologies, with over €1Bn in assets under management.
Founded in 2000, Ace invests through sector-focused approaches (midmarket private equity in Aerospace & Defence and venture and growth capital investments in Cybersecurity / Digital Trust). Ace has built its model on strategic partnerships with large corporates (including Airbus, Safran, Dassault Aviation, Thales, EDF, Naval Group, Sopra Steria), which invest in its funds and maintain an ongoing dialogue with the firm, enabling Ace to take a differentiated approach to investing. Ace operates offices in Paris (HQ), Toulouse, Bordeaux and Montréal, and benefits from the worldwide presence of Tikehau Capital. More information
About Capricorn Partners
Capricorn Partners is an independent European manager of venture capital and equity funds, investing in innovative European companies with technology as competitive advantage. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience. Capricorn Partners is managing the venture capital funds Capricorn Digital Growth Fund, Capricorn Sustainable Chemistry Fund, Capricorn ICT Arkiv, Capricorn Health‐tech Fund, Capricorn Cleantech Fund and Capricorn Fusion China Fund. In addition, it is the management company of Quest for Growth, quoted on NYSE Euronext Brussels, and the investment manager of Quest Cleantech Fund and Quest+, sub‐funds of Quest Management SICAV, registered in Luxembourg. More information
Invest-NL is an impact investor committed to businesses and projects that will make the Netherlands more sustainable and innovative. Its focus lies on the energy transition and on innovative, fast-growing companies, or scale-ups. Invest-NL supports innovative entrepreneurs through financing and advice according to one simple principle: impact is our goal, return is our means. As the Dutch partner for European investment institutions, Invest-NL is dedicated to cooperation and always works together with other investors. Invest-NL is headquartered in Amsterdam and employs a staff of 50 people. More information
About Arches Capital
Arches Capital is a fast-growing group of business angels that invests in startup and scale-up companies with a large growth potential. Through its investments Arches Capital bridges the gap between formal investors (VCs) and informal investors (business angels), by joining the best of both worlds: "we source, select and invest like a VC; we engage, care and inspire as the angel we are". Arches Capital differentiates itself by bringing superior deal flow, professional knowledge and a lower risk profile to the participating angel investors, while supporting its successful portfolio companies from start to exit through follow-on investments. For this Arches Capital is building the leading platform of actively engaged business angels that know how to operate and manage their investments in a professional and standardized manner. More information
Ronald Fabbro, VP Marketing EclecticIQ