Fivecast completes AU$30m Series A Funding
Fivecast has announced that it has successfully raised $30 million in its Series A funding round. The funding round was led by US cybersecurity investor Ten Eleven Ventures, with further investment coming from previous investors – CSIRO’s Main Sequence Ventures and the South Australian Venture Capital Fund, managed by Artesian.
Fivecast is excited to announce that it has successfully raised $30 million in its Series A funding round. The funding round was led by US cybersecurity investor Ten Eleven Ventures, with further investment coming from previous investors – CSIRO’s Main Sequence Ventures and the South Australian Venture Capital Fund, managed by Artesian.
With the new funding, Fivecast plans to use the funds to expand its global footprint and develop new products with open-source intelligence.
Fivecast is growing in both the United Kingdom and United States and has the potential to gain advantages from enhanced collaboration among the Five Eyes nations, who share intelligence, as well as the newly established AUKUS security partnership.
In an exclusive interview with the Australian Financial Review, Fivecast CEO, Dr. Brenton Cooper (pictured), discussed the advantages of the Series A funding being used to expand further into Five Eyes nations.
“Being headquartered in a Five Eyes nation with footprint in others is certainly an advantage – it’s a tight-knit group, and we often win business through referrals from one country to another. This is why we work closely with AusTrade, as well as the Australian embassies in the US and UK,” Dr Cooper said.
Dr. Cooper expressed his gratitude for the support from their investors and their confidence in Fivecast’s mission to provide technology that helps organizations stay ahead of emerging risks.
Dr. Cooper explained that the technology is particularly useful in identifying potential threats that could impact national security, public safety, or corporate reputation. Fivecast’s technology can analyze vast amounts of data from a wide variety of sources across the surface, deep and dark web to help organizations identify potential threats before they become major issues.
Ten Eleven Ventures managing partner Alex Doll told The Australian Financial Review that, while the company resides in the US, it views the cybersecurity industry as a global opportunity, and that he had observed a “ton of specialised talent,” in Australia.
“We felt confident in Fivecast’s talent level, and that we could help the company reach out to other markets, including the US and UK. They have the talent and ambition to compete globally.” said Doll.
The success of Fivecast’s funding round is a testament to the growing demand for AI technology in the security and risk management space. As threats become more sophisticated and complex, organizations need advanced tools to help them identify and mitigate potential risks.