The cybersecurity firm took on US$34.5 million in a Series A capital raise late last year and now has another $30 million available from Scotiabank to fund acquisitions and global growth, it announced. (The Logic)
Talking point: Founded by veterans of Canada’s federal cybersecurity efforts—CEO Matt Holland worked at the Communications Security Establishment and COO Andrew Loschmann developed security policy in the Privy Council Office—Field Effect focuses on small- and medium-sized business customers, promising integrated protection for devices, networks and cloud services. (Its clients include the Canadian Internet Registration Authority, which manages the .ca domain.) The company plans to look for established cybersecurity providers, buy them and add Field Effect’s products and services to their offerings. “These acquisitions will help Field Effect reach markets that would otherwise be cost-prohibitive to enter due to commercial barriers,” Holland told The Logic in an email.
