Security News > 2020 > November > Banking Cybersecurity Provider DefenseStorm Raises $19 Million
Cloud-based cybersecurity and cybercompliance management solutions provider DefenseStorm on Tuesday announced that it raised $12 million in Series B funding, along with $7 million in growth capital financing.
DefenseStorm plans on bringing to market its CyberFraud module, as well as to increase efficiency through its Threat Ready Active Compliance service provider team.
The growth capital financing came from CIBC Innovation Banking.
To date, DefenseStorm raised a total of $47 million.
"Thanks to the support of Georgian, TTV Capital and CIBC Innovation Banking, DefenseStorm is poised for another incredible growth period. Our primary goal is to invest our time and resources into our current and potential customers, our hardworking employees and our own innovative solutions to continue serving the financial industry to the best of our ability," Steve Soukup, CEO of DefenseStorm, commented.