Investment led by Ace Management.
Total investment in the organization over four-year period tops €47 million.

Amsterdam – 1 December 2020 – EclecticIQ, a global threat intelligence, hunting and response technology provider, has raised €20 million ($24 million) in Series C financing, led by Ace Management, Europe’s leading cyber growth investor.

Other contributors to the funding round include Capricorn Digital Growth Fund and Quest for Growth, Invest-NL, Arches Capital and existing investors INKEF Capital, KEEN Venture Partners and KPN ventures. This brings the company’s total funding raised to €47 million over a four-year period, making it among the best funded global cybersecurity scale-ups based in Europe.

Funding will go towards deepening the company’s commitment to government, large enterprises and service providers, expanding its portfolio and increasing the company’s global footprint. With this investment EclecticIQ will accelerate its strategy to transform from a leading threat intelligence platform vendor into an innovative cybersecurity leader across the globe.

As cyber threats continue to evolve rapidly, intelligence-led cybersecurity has become the norm. EclecticIQ’s growing customer base relies on its threat intelligence platform as the single source of truth for cyber threats and incidents. The financing will drive further innovation of the platform with new use cases, enabling governments, large enterprises and service providers to effectively manage threat intelligence, create situational awareness and adopt an intelligence-led cybersecurity approach.

Having mastered threat intelligence technology, the company sees adjacent opportunities in operationalizing threat intelligence, as this is a problem that has not been solved in the market yet. With the recent acquisition of PolyLogyx’s end-point technology, the company is well positioned to develop new solutions that re-imagine how organizations detect, hunt and respond to sophisticated threats.

To accelerate growth, EclecticIQ will use the funding to expand its commercial teams in Europe and the United States, and establish a presence in the Middle East, Africa and Asia Pacific. Leveraging its experience with governments, and some of the most targeted

enterprises globally, the company will expand its focus to new segments and strengthen its global partner ecosystem.

We are convinced that Ace Management’s new investment will help the company to improve and accelerate its solutions that enable the world’s biggest governments and commercial enterprises to identify and protect against the most intense cyber threats.

François Lavaste, Partner at Ace Management

François Lavaste, Partner at Ace Management who will join EclecticIQ’s board of directors.

It is exciting to bring in a high-caliber cyber investor like Ace Management, which shares our vision of threat intelligence at the core of cybersecurity, and sees the opportunity to transform the industry by solving massive challenges faced in threat detection, hunting and response. This financial investment will enable EclecticIQ to drive the industry forward and support our clients more effectively facing an ever-evolving threat landscape.

Joep Gommers, EclecticIQ’s co-founder and chief executive officer

EclecticIQ has seen impressive growth over the years:

• Growth: In 2019, the company grew its revenue by 84 percent by successfully expanding the company’s market segments from government to larger financial organizations, telecoms and big tech companies.
• Product: EclecticIQ is continuing to push the envelope, with a new intelligence ingestion engine introduced to the EclecticIQ Platform, improving robustness and scalability of the company’s core threat intelligence technology.
• Industry alliances: The company is a sponsor member of OASIS, EclecticIQ joined the Open Cybersecurity Alliance (OCA), along with some of the biggest names in cybersecurity.
• Leadership: The company further strengthened its leadership team, adding Wytse Bouma (ex Rockstart) as CFO, and Ciaran Bradley (ex Adaptive Mobile, Kemp) as CTO.
• Board: Three new members have been appointed to its board: Ben Verwaayen (KEEN Venture Partners, previously CEO of BT Group PLC Alcatel-Lucent, President of KPN Telecom and Vice-Chairman of Lucent Technologies), François Lavaste (Partner, Ace Management) and Katrin Geyskens (Partner, Capricorn Partners). The Board is chaired by Sam van der Feltz (ex Unilever, TNS & EMI).

Bryan, Garnier & Co acted as sole financial advisor and sole placement agent for EclecticIQ.

About EclecticIQ
EclecticIQ is a global threat intelligence, hunting and response technology provider. Its clients are some of the most targeted organizations, globally. To build tomorrow’s defenses today, these organizations have to understand the threats against them – and align their efforts and investments to mitigate their risks. EclecticIQ helps governments, large enterprises and service providers effectively manage threat intelligence, create situational awareness and adopt an intelligence-led cybersecurity approach. The company extended its focus towards hunting and response with the acquisition of Polylogyx’s end-point technology in 2020. Founded in 2014, EclecticIQ operates globally with offices across Europe, North America, and via certified value-add partners.

For more information, visit www.eclecticiq.com.

About Ace Management
Ace Management, a subsidiary of Tikehau Capital, is a private equity firm specialised in strategic industries and technologies, with over €1Bn in assets under management.

Founded in 2000, Ace invests through sector-focused approaches (midmarket private equity in Aerospace & Defence and venture and growth capital investments in Cybersecurity / Digital Trust). Ace has built its model on strategic partnerships with large corporates (including Airbus, Safran, Dassault Aviation, Thales, EDF, Naval Group, Sopra Steria), which invest in its funds and maintain an ongoing dialogue with the firm, enabling Ace to take a differentiated approach to investing. Ace operates offices in Paris (HQ), Toulouse, Bordeaux and Montréal, and benefits from the worldwide presence of Tikehau Capital.

For more information, visit www.acemanagement.fr.

About Capricorn Partners
Capricorn Partners is an independent European manager of venture capital and equity funds, investing in innovative European companies with technology as competitive advantage. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience. Capricorn Partners is managing the venture capital funds Capricorn Digital Growth Fund, Capricorn Sustainable Chemistry Fund, Capricorn ICT Arkiv, Capricorn Health-tech Fund, Capricorn Cleantech Fund and Capricorn Fusion China Fund. In addition, it is the management company of Quest for Growth, quoted on NYSE Euronext Brussels, and the investment manager of Quest Cleantech Fund and Quest+, sub-funds of Quest Management SICAV, registered in Luxembourg.

For more information, visit https://capricorn.be.

About Invest-NL
Invest-NL is an impact investor committed to businesses and projects that will make the Netherlands more sustainable and innovative. Its focus lies on the energy transition and on innovative, fast-growing companies, or scale-ups. Invest-NL supports innovative entrepreneurs through financing and advice according to one simple principle: impact is our goal, return is our means. As the Dutch partner for European investment institutions, Invest- NL is dedicated to cooperation and always works together with other investors. Invest-NL is headquartered in Amsterdam and employs a staff of 50 people.

For more information, visit http://www.invest-nl.nl

About Arches Capital
Arches Capital is a fast-growing group of business angels that invests in startup and scale-up companies with a large growth potential. Through its investments Arches Capital bridges the gap between formal investors (VCs) and informal investors (business angels), by joining the best of both worlds:

“ We source, select and invest like a VC;
We engage, care and inspire as the angel we are. ”

Arches Capital differentiates itself by bringing superior deal flow, professional knowledge and a lower risk profile to the participating angel investors, while supporting its successful portfolio companies from start to exit through follow-on investments. For this Arches Capital is building the leading platform of actively engaged business angels that know how to operate and manage their investments in a professional and standardized manner.

For more information, visit www.arches.capital.

“Nordic Capital is excited to be part of Conscia’s growth journey, supporting the business through its continued international expansion strategy whilst also strengthening its offering within cybersecurity, multi-cloud and managed services. Morten is a very experienced leader and brings a unique set of skills and experience when it comes to digitalisation and security. We are confident that he will bring very valuable expertise to further support Conscia on its growth journey,” said Fredrik Näslund, Partner, Nordic Capital Advisors.

Morten Hübbe is Group CEO of Tryg, one of the largest non-life insurance companies in the Nordic region and Deputy Chairman of SimCorp, one of the world’s leading providers of integrated investment management solutions. He has a proven track record in building strong fintech businesses. Morten holds 25+ years of insurance experience, of which nearly 20 years have been at the top executive level. In addition, he has Supervisory Board experience from Banking, Software and IT development, for example in KBC, KMD and Zürich Financial Services.  He has also been recently appointed new Chairman of Siteimprove, another Nordic Capital portfolio company.

“Conscia is on a very strong growth trajectory, and I’m looking forward to supporting the Company with my experience in software, technology and entering new markets. I am delighted to be appointed Chairman of Conscia and looking forward to working with CEO Claus Thorsgaard and his management team and Nordic Capital,” says Morten Hübbe.

Morten will succeed Torben Munch as Chairman. Torben has chosen to step down to increase his focus on his operational role as CEO of MFEX and Chairman of Vizrt, both Nordic Capital portfolio companies.

“Nordic Capital like to take this opportunity to thank Torben Munch for his great contributions as Chairman of Conscia,” Fredrik Näslund adds.

Conscia is a leading European provider of security and IT Infrastructure Solutions based on technology from Cisco, complemented with other leading technology partners. Conscia was founded in 2003 in Denmark. Today, Conscia has approximately 750 employees in six countries (Denmark, Sweden, Norway, the Netherlands, Germany and Slovenia) with a total turnover of approx. DKK 2.5 billion (c. EUR 335 mn). In 2019, Nordic Capital acquired Conscia and has, in close partnership with the management team, supported its continued expansion and invested to further strengthen its market leading position and service offering.

Technology & Payments is one of Nordic Capital’s focus sectors where it has extensive experience, a strong and active sector network, and a dedicated team with local presence across Northern Europe. Since 2018, Nordic Capital has made 18 platform investments in this sector including former and current investments such as Bambora, Trustly, Conscia, BOARD International and Signicat.

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded or associated investment vehicles and their associated management entities. Nordic Capital is advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.

Press contacts

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Conscia

Janni Bilenberg, CMO
Tel: +45 3119 2845
e-mail: jbi@conscia.com

About Conscia

Conscia is a Network of Knowledge and an ICT service provider that specialises in cyber security, IT infrastructure solutions, and managed services. As a trusted advisor Conscia strives to support the customers ‘business-critical IT infrastructure’ across the entire value chain from design, implementation, operation and optimization. The ambition is supported by profound technical competencies and insight, which is displayed through the unique customer portal, this also forms the basis for the best customer experiences and the highest customer satisfaction in the industry. Another strategic goal for Conscia is to be the most attractive workplace for talented IT infrastructure specialists in Europe. Currently Conscia Group has more than 750 employees across six countries (Denmark, Sweden, Norway, Germany, Netherlands, and Slovenia), with an annual turnover of approximately DKK 2,5bn DKK (€335mm). For more information, please visit Conscia.com

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Core sectors are Healthcare, Technology & Payments, Financial Services and Industrials & Business Services. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 15 billion in over 110 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several non-discretionary sub-advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit nordiccapital.com

Juriba, the leading provider of digital transformation IT command and control software has acquired AppAvail, a leading-edge application packaging and testing automation software platform, to add automated smoke testing, functional testing, User Acceptance Testing (UAT) as well as automated application packaging and management to its Evergreen IT Management solution, Juriba Dashworks.

Juriba is a fast-growth technology business that specialises in digital transformation software, providing innovative solutions for medium-sized to large corporates and multinational organisations. The company is the creator of Dashworks, a project ‘command and control’ platform for enterprises, which helps organisations manage end-user IT transformation and Evergreen IT projects with greater accuracy and speed, at a reduced cost.

Iain Fraser, CRO & Head of M&A at Juriba, said: “We are thrilled to welcome AppAvail to the Juriba family! Many of our larger customers struggle to keep pace with the ever-increasing velocity of technological change they must manage every day! As just one example, hundreds of applications can be automatically compatibility tested against a new OS over a weekend without any user intervention. With AppAvail becoming part of Juriba, IT managers can deliver End User IT change much faster with a significantly reduced business disruption.”

Barry Angell, CEO of Juriba said: “These new automated smoke testing, functional testing, UAT, and application management capabilities were an important puzzle piece that will make our Dashworks an even more powerful Evergreen IT Management solution — particularly for Windows 10 Servicing, Office 365 Servicing, and Patch Management Testing. Because of the already significant integration with Dashworks, our customers can accelerate their Windows 10 Servicing, Office ProPlus readiness and application packaging processes right away.”

The former AppAvail products, Automated Application Packaging (PKG+), Application Packaging Manager (APM), and Application Compatibility Engine (ACE), are now a part of the expanded Dashworks Application Manager solution with the smoke test and packaging modules available to purchase individually.

Craig Jones, Co-Founder of AppAvail said: “We are delighted to be joining the Juriba team. The complimentary nature of our technologies, alongside the dynamic and growth driven strategy that Juriba put forward is tremendously exciting both for the product and our joint customers. More than ever, customers require innovative, automated alternatives to antiquated processes and the combination of our software platforms brings a world class, end to end solution to the Evergreen IT market.”

Juriba is backed by BGF following an investment into the business earlier this year to support its expansion plans.