Arctic Security gets equity investment to further focus on expanding its cyber security solution.
Arctic Security, an Oulu, Finland-based startup providing a threat intelligence platform, announced securing an undisclosed amount of investment in the company.
The money comes from private equity firm from Finland, CapMan, and will be used to consolidate Arctic Security's market positioning in a growing cyber security industry, as well as for financing the launching of new products in the future. The management of the company will remain as majority owners after the transaction.
Arctic Security was founded at the end of 2017 by former employees of Codenomicon, another Finnish security company also funded by CapMan and sold to Synopsys in 2015. The company has 20 employees and works with national cybersecurity centres and companies worldwide, providing a feed-agnostic threat intelligence platform monitoring internal and external network threat data, and accurately highlighting incidents that pose real risk to a network..
The investment in Arctic Securities is the first made from a EUR 86M ($101M) fund that CapMan announced at the end of 2017, aimed at making minority investments in unlisted growth companies from the Nordics. The size of the investment is on the EUR 2-10M range, with an exit horizon of 2-5 years.