Cybersecurity firm CounterCraft raises $5m

CounterCraft, a European cybersecurity software company, today announced it has secured $5 million in additional funding.

The financing round was led by Adara Ventures, joined by new investors eCapital and The Red Eléctrica Group, with participation from existing investors including Evolution Equity, ORZA, and Wayra.

The CounterCraft Threat Deception platform uses ground breaking security engineering for Threat Detection, Threat Intelligence and Proactive Threat Defense.

Key stakeholders get more time to respond to advanced and rapidly evolving threats. The platform continuously generates highly relevant threat intelligence elicited from threat actors. Defenders benefit as CounterCraft integrates with incident response workflows and proactively reconfigures defensive systems in real time to mitigate risks from ongoing attacks.

CounterCraft was founded in 2015 by a team of CyberSecurity specialists including CEO David Barroso, who led Telefonica’s security division. Alongside them is CSO Daniel Brett, a veteran of bringing new security technologies to market.

From its San Sebastian headquarters, CounterCraft serves clients across Western Europe and North America, with particular focus on national defence and intelligence departments, major financial institutions, and large enterprises. .

CounterCraft CEO David Barroso says: “The CounterCraft solution fits seamlessly into existing security strategies.  Uniquely, the platform can automatically convert this harvested data into proactive responses. This puts CISOs back in the driving seat when defending. CounterCraft is necessary for any organisation with a proactive defence stance.”

Dirk Seewald, Partner, eCapital adds: “Cyber threat deception solutions promise to provide the highly sought-after efficiency and effectiveness in threat detection programs. By luring intruders into a digital twin of your companies’ IT infrastructure, the quality of intelligence gathered increases tremendously.”

“With CounterCraft we have a team of cyber security experts building the product they were looking for in their previous organisations’ operational roles. Their customers love the product and the team. We are glad to be joining this group of renowned investors in this financing round.”

Alberto Gomez, Managing Partner, Adara Ventures adds: “We continue to be inspired by the combination of engineering ability and vision that CounterCraft has shown in defining a new category of defensive tool that responds to the current threat landscape. Nothing else we have seen effectively uses a Know-Your-Attacker stance to turn the tables on threat actors.

“We are now excited about CounterCraft’s prospects for expanding its presence with sophisticated, large clients in the U.S. and European markets.”