Fivecast Completes US $20M (AU$30m) Series A Raise With New US and Existing Australian VC Investors
Summary
The software enables the targeted collection and risk analysis of publicly available information for specific use cases, such as identifying extremists, terrorists, drug trafficking and organized crime.This round of funding is led by US-based cybersecurity venture capital firm, , with additional investment from existing Australian backers, the Commonwealth Scientific and Industrial Research Organizations (CSIRO) and the , managed by .Fivecast is leveraging the new funding to build out its product portfolio, and drive growth in the Five Eyes community following strong momentum in Australia, a surge in demand in the US, and the establishment of its UK office. It is also targeting the Asia Pacific region and Europe, and is adding further capabilities in adjacent use cases such as corporate security and financial intelligence.The company is also continuing recruitment of industry professionals, including tradecraft experts, developers, and sales and marketing personnel to its four offices, having recently achieved a milestone of more than 100 employees globally. This Series A funding ensures we can continue building advanced capabilities to support our customers targeted objectives, and add headcount to service markets across the globe particularly in Australia, the US and the UK. ""Deep tech is boundless in its ability to create safer societies through research, data and advanced capabilities that tackle among the most pressing challenges we face," said Martin Duursma, Partner at Main Sequence. "Fivecast incorporates these principles to address the growing spectrum of global threats by deciphering almost endless troves of publicly available data, and applying AI to help uncover insights essential to protecting communities and organizations.
Funding
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