Participated · Seed · Oct 2018

Beauceron Security provides a cybersecurity SaaS platform that helps organizations execute security awareness programs and turn employees into active participants in discovering and resolving phishing-based attacks. The company launched a patent-pending technology last year to give feedback to employees who report suspicious emails. Customers have seen an 85% decrease in phishing simulation clicks and a 99% increase in emails reported within 90 days; the company also says it delivers results 4x faster than market leaders. Beauceron serves over 680 clients worldwide, including large financial institutions, telecoms, government organizations and enterprises. The firm plans to leverage a growth capital facility from CIBC Innovation Banking to build new features and products and support market expansion. To date Beauceron has raised $5 million in equity capital from investors including BankTech Ventures, Independent Community Bankers of America (ICBA), Mariner Partners and the New Brunswick Innovation Foundation. Beauceron Security is a Fredericton-based, cloud platform that helps organizations manage and reduce cyber risk. Born from innovation developed at the University of New Brunswick’s IT department, its solution uses a proprietary algorithm to produce personal, departmental and organizational risk scores. The company serves more than 55 customers across finance, insurance, energy, manufacturing, IT, higher education and government, and counts tens of thousands of users in 27 countries. Beauceron has doubled its client base in the past three quarters and has partnered with national and regional security firms in Canada, the United States and Europe. It was the first Canadian company accepted to the CyLon accelerator. The funding announced will be used to build out the product roadmap, increase sales and marketing, and recruit new partner firms worldwide.