Netherlands-based cybersecurity platform developer EclecticIQ has raised $24m in a series C round backed by KPN Ventures, the corporate venturing arm of telecoms company KPN.
Private equity firm Ace Management led the round, which also featured Capricorn Partners’ Capricorn Digital Growth Fund, Quest for Growth, Arches Capital, Inkef Capital, Keen Venture Partners and the Dutch government’s $2.1bn Invest-NL fund.
Founded in 2014, EclecticIQ has developed software that helps governments and large companies manage their cyber threat intelligence. Its EclecticIQ platform collects intelligence data from a number of sources to support the detection and prevention of threats.
The company will use the funding to grow its commercial teams in Europe and the US, as well as expand its presence into the Middle East, Africa and Asia Pacific regions. It had received a $7.6m investment from Inkef Capital in October 2019, according to Nordic 9.
In 2017, Keen Venture Partners led EclecticIQ’s $16.4m series B round, which included KPN Ventures and Inkef Capital, both of which had invested in a $6.4m series A round for the company the previous year that took its total funding to $7.3m.