Field Effect is an Ottawa-based global cybersecurity company focused on intelligence-grade protection for underserved small and medium enterprises (SMEs). Its flagship product, Covalence, combines advanced analytics, machine learning, and the expertise of security analysts to monitor, detect, and actively respond to threats across networks, devices, and cloud services. Covalence reduces risk by identifying vulnerabilities proactively and delivers alerts via a proprietary AROs (actions, recommendations, and observations) framework designed to be accessible to non-experts. Field Effect also offers Cyber Range, a simulation-based training platform used by customers ranging from SMEs to large corporations, universities, and government agencies. The company intends to use new funding to accelerate sales and marketing with a channel and brand focus, evolve products and services, scale financial and commercial operations (including e-commerce), and expand market presence. The announcement reports a $30M financing led by Edison Partners with other strategic investors contributing $10M.

Total raised

$20M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2022