Cybersecurity firm CounterTack has closed a $20 million Series D round led by new investor Singtel Innov8, the corporate venturing arm of the Singtel Group, and SAP National Security Services (SAP NS2), a division of German software major SAP.
The Series D round also saw follow-on investment from existing investors, with proceeds to be used for financing CounterTack’s growth in Asia Pacific (APAC).
CounterTack claims to deliver full-spectrum endpoint security, including advanced Endpoint Detection and Response (EDR) capabilities, leveraging behaviour analysis and machine-learning to neutralise threats at-scale to maintain business resiliency against targeted attacks.
“We are excited to partner with CounterTack to support the delivery of truly innovative endpoint security technology on a global scale,” said Jeff Karras, managing director, Singtel Innov8.
“CounterTack takes a differentiated approach to protecting large organisations from attacks like ransomware and other advanced threats. Their track record in delivering innovative endpoint security to customers worldwide is spectacular. We are happy to be part of their continued growth.”
In November 2016, EDBI, the investment arm of Singapore’s Economic Development Board (EDB), participated in a $10 million round that included several strategic investors.
According to Gartner estimates, the cybersecurity market is growing at an annual average of 8 per cent in overall revenue.
“We’re thrilled to team up with CounterTack and to be adding them to our syndicate of portfolio companies in the cybersecurity space,” said Andrew Drake, vice president, strategic investments, at SAP NS2. “We are also enthusiastic about the market opportunity to integrate our best of breed technologies strategically, to deliver unprecedented scale across multiple customer use cases.”
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