Cydarm has completed its second equity round, with several investors, contributing a total of over $3 million.
The equity round was led by InterValley Ventures, with Right Click Capital doubling down on their original investment in Cydarm in 2018, and Five V Capital joining as a new investor. The round also includes several individual cyber security executives all excited by deep tech and a belief in Cydarm’s mission to build cyber resilience. Intervalley Ventures has a technology portfolio that includes Myriota and Quintessence Labs.
Cydarm’s Co-founders Ben Waters and Dr Vaughan Shanks say they are enthusiastic about growth opportunities following the equity round. “This investment allows us to advance the vision for the platform including further integration and automation features. Of course, to do this we need to recruit more staff. We’re looking for passionate people with an interest in cyber either based in Melbourne or willing to work remotely nationwide,” Dr Shanks said.
Simon Wright, General Partner, Intervalley Ventures, says he saw the potential in Cydarm’s platform to diagnose cyber threats quicker. “We saw Cydarm as clearly innovating in the internationally important area of Cyber security. As such Cydarm represented a perfect addition to our portfolio where are wanting to focus on disruptive business models that address problems of global importance. We also saw it as a notable example of Australian innovation,” Mr Wright said.
