MONTREAL-(BUSINESS WIRE)-February 9, 2023-
CIBC Innovation Banking Fredericton-based Beauceron Security Inc. (“Buseron Security”), a cybersecurity SaaS platform that helps businesses of all sizes manage and monitor cyber risks.
Beauceron Security plans to leverage the growth capital facility to continue building new features and products to help businesses reduce their vulnerability to human-centric cyber risks.
Beauceron Security’s platform helps companies educate their employees on security awareness and risk mitigation. The company turns employees into active participants in the discovery and resolution of phishing-based cyber attacks. Eric Laflamme, managing director of the Montreal office of CIBC Innovation Banking, said, “Beausaren Security has demonstrated that its platform is well-optimized to help the security needs of small and medium-sized businesses as well as enterprise businesses. ” “The team was able to understand an untapped market need and translate it into a widely adopted solution. We are excited to help Beauceron embark on its growth journey.”
Last year, Beauceron launched a new service and patent-pending technology to help organizations provide feedback to employees who report suspicious e-mail. Organizations have seen a significant increase in the number of employees reporting suspicious activity, and a decrease in engaging with phishing emails through the use of the platform.
“This is a great opportunity for our firm to continue our ambitious plans,” said David Shipley, Co-Founder and CEO, Beauceron Security.
“We have enjoyed working with the CIBC Innovation Banking team. They understand how to work with start-ups to help them achieve their full potential. Working with CIBC Innovation Banking will help us grow our business and expand our market.”
Beauceron Security’s current investors include BankTech Ventures, Independent Community Bankers of America (ICBA), Mariner Partners and the New Brunswick Innovation Foundation (NBIF). To date, they have raised $5 million in equity capital.
About CIBC Innovation Banking
CIBC Innovation Banking provides strategic advice, cash management and funding to innovation companies in North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team brings extensive experience and a strong, collaborative approach that complements CIBC’s commercial banking It has spread till , private banking, wealth management and capital markets business.
About Beauceron Security
Beauceron Security helps organizations execute cyber security awareness programs that empower team members to make better decisions and reduce their cyber risk. Through a positive, automated approach to cyber security awareness and training, Beauceron Security enables teams to make cyber secure decisions that deliver better results up to 4 times faster than market leaders. Platform users have experienced an 85% reduction in phishing simulation clicks, with a 99% increase in emails reported in just 90 days. With over 680 clients worldwide, Beauceron Security is proud to work with some of North America’s largest and most highly regulated financial institutions and telcos, as well as government organizations and commercial enterprises of all sizes. Find out more at beauceronsecurity.com
Deborah Rowe [email protected] 416-586-7019
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