EIB provides €15 million to Dutch cybersecurity company EclecticIQ to finance and expand its research and development.
The financing is backed by the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe.
The project will boost the development and deployment of technology-intensive software and services in important areas and policy sectors for the European Union such as cybersecurity.
The European Investment Bank (EIB) has signed a €15 million financing deal with Dutch cybersecurity company EclecticIQ, a leader in threat intelligence, hunting and response technology and services. The agreement will give EclecticIQ access to the funding it needs to further accelerate the development of its cybersecurity platform and expand internationally in a strategically important and rapidly growing market. The EIB financing is backed by the European Commission through the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
“We’re pleased to receive this support from the EIB as part of its commitment to build a strong European ecosystem in cybersecurity. With this financing, we plan to accelerate the development of our unique cybersecurity platform which helps organisations stay ahead of rapidly evolving threats and outmanoeuvre attackers,” said Joep Gommers, CEO and co-founder of EclecticIQ. “By adopting our cybersecurity platform, organisations can detect cyberthreats earlier, remediate them more rapidly, and scale up their analyst function.”
European Commissioner for the Economy Paolo Gentiloni said: “As more and more business operations move online, strengthening cybersecurity is becoming ever more important. This support from the EIB, backed by the Investment Plan for Europe, will help EclecticIQ to further grow its activity in this crucial sector, developing its product portfolio and offering clients suitable solutions to effectively counter cyberthreats.”
EIB Vice-President Kris Peeters said: “Recent events show us how important it is not to neglect the digital security of companies and governments, but also of private persons. Data breaches and cyberespionage can lead to the theft of critical information such as trade secrets and technology. From ransomware attacks to computer viruses, there are many different threats that business leaders need to be aware of. In EclecticIQ, the EIB is financing a company that is developing a cutting-edge cybersecurity platform aimed at keeping data safe and society running – something we are happy to support.”
EclecticIQ intends to accelerate its growth by further developing its platform through investments in research and development, as well as to expand to new countries and sectors by investing in sales and marketing.
The European Investment Bank (EIB) issues long-term loans on behalf of the European Union. The Bank is owned directly by the EU Member States – the Netherlands owns 5.2% of its shares – and with 27 sovereign states as backers can therefore borrow funds at very favourable rates on the capital market. This enables the EIB to provide long-term financing for sound investments that contribute to the European Union’s policy goals. The EIB made approximately €1.9 billion available in loans for projects in the Netherlands in 2020.
The European Fund for Strategic Investments (EFSI) is the main pillar of the Investment Plan for Europe. It provides first loss guarantees, enabling the EIB to invest in more projects that often come with increased risk. The projects and agreements approved for financing under EFSI have so far mobilised €546.5 billion in investment, a quarter of which is going to research, development and innovation projects.
EclecticIQ is a global provider of threat intelligence, hunting and response technology and services. Stay ahead of rapidly evolving threats and outmanoeuvre your adversaries by embedding Intelligence at the core™ of your cyberdefences with our open and extensible cybersecurity platform and ecosystem. The most targeted organisations in the world – including governments and large enterprises – use our platform to operationalise threat intelligence, enable threat hunting, detection and response, and accelerate collaboration. Founded in 2014, EclecticIQ is a leading European cybersecurity vendor operating worldwide with offices and teams across Europe, the United Kingdom, North America and India and via value-add partners. www.eclecticiq.com
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