Managed cybersecurity platform startup Huntress Labs Inc. today announced that it has raised $40 million in debt financing from CIBC Innovation Banking to pursue opportunities for mergers and acquisitions, research, development of products and expansion into international markets.
Founded in 2015, Huntress offers a cybersecurity platform with managed endpoint detection and response. The company’s platform uses automated detection and human threat hunting to find and stop hidden threats, including those that bypass traditional security tools.
Designed to protect small and medium businesses against modern cyberattacks, the company’s platform protects businesses throughout the lifecycle of modern attacks. The Huntress managed security platform includes protection against persistent kicks, eliminating attackers in plain sight and against what it calls “ransomware canneries”, small, lightweight files placed on all protected endpoints that enable faster detection of potential ransomware incidents.
The Huntress platform also offers managed antivirus services, including centralized management of detections and events, monitoring scans and protections, setting exclusions, and performing remediation actions for all protected endpoints. The company’s External Recon feature monitors potential exposures caused by open ports connected to remote desktop services and phantom information technology to identify ways to improve external security postures.
For SecOps and network security professionals, Huntress also provides cybersecurity training and resources. The service enables users to learn about the craftsmanship of hackers, improve their security expertise, and have more actionable customer conversations.
The company’s growth strategy includes mergers and acquisitions. Huntress acquired security awareness training platform Curricula Group Inc. for $22 million in July. The deal was described as adding a critical layer to Huntress’ growing managed security platform, delivered through an interactive e-learning experience that empowers employees to become their own line of defense in the fight against attackers. .
“We are just beginning to launch our build-and-buy strategy to help companies bolster their preventative security efforts,” Huntress CFO Marcos E. Torres said in a statement. “With our level of maturity in M&A and deal structuring, we will continue to acquire and grow assets that solve our partners’ business and technical challenges.”
Entering the new debt financing, Huntress had previously raised $59.8 million in venture funding, according to Crunchbase. The company’s investors include JMI Equity Partners, Forgepoint Capital, SaaS Ventures, StoneMill Ventures, Blue Venture Investors and Gula Tech Adventures.