Capstone Partners, a leading investment banking firm, announced that it has completed a seed financing in CYBRIC, Inc. (www.cybric.io) through Capstone Ventures LLC. Capstone Ventures and Petrillo Capital joined to fund the $6.3 million investment.
CYBRIC was founded in 2015 by industry veterans with deep knowledge of the need for advanced cybersecurity solutions. Combined, their resumes include Cybersecurity Advisor to members of the US House and Senate, Chief Information Officer at Yahoo and Chief Technology & Security Officer at Sentinel Benefits & Financial. CYBRIC’s platform utilizes patent-pending cloud-based technology to continuously check for aberrations and threats in applications, integrations, operating systems, data centers and other network components. Users also have the ability to examine their entire “security posture” through a single dashboard. The company will use this funding to launch its SaaS platform to the global marketplace.
This financing will bridge us to a $10 to $15 million Series A round, which we expect to pursue at the end of Q1 2017. We have been looking at this sector for a long time and have not seen a comparable offering to CYBRIC’s solution set. Given the company’s current momentum, we see a lot of similarities to our investment in Thinking Phone Networks and think CYBRIC has real potential to be a market disruptor.
Capstone Ventures was the first investor in Thinking Phone Networks (now Fuze) in 2010. Earlier this year, Fuze announced a $112.0 million financing lead by Summit Partners, together with existing investors Bessemer Venture Partners and Technology Crossover Ventures. Ferrara stated that his intentions with the investment in CYBRIC is to ensure the company is able to execute on its November market launch without disruption. “This is not your typical seed financing; it is an acceleration round to make sure we are running on all cylinders into our Series A round,” concluded Ferrara.
