Victoria, British Columbia-based cybersecurity startup HYAS, announced in February 2021 that it has raised a CAD 20M in a Series B funding round led by Austin, Texas-based S3 Ventures. Other funding round participants include Uncorrelated Ventures, Tightline Holdings, Cyber Mentor Fund, and Dcode Capital and existing investors M12, Startup Capital Ventures, and 205 Capital.
According to the deal, Charlie Plauche, partner at S3 Ventures, has joined the HYAS board of directors.
The startup will use the proceeds from the funding round to fast-track its product development and market expansion.
Christopher Davis, Jeff Spencer, Sasha Angus, Steve Heyns founded HYAS in 2015. The Canadian startup has developed a security solution that gets integrated into a company’s prevailing security tech stack to identify and prevent cyber threats before they happen proactively. HYAS has multiple Fortune 100 companies as its clients. The product is also built in a way to determine the groundwork behind these cyber-attacks. Companies can utilise HYAS’ platform to find enemy infrastructure and block phishing and ransomware attacks at the network layer before they have even launched.
It is working with the mission to provide customers with the world’s best system for detecting and alleviating cyber risks before attacks happen and identifying the bad artists behind them. HYAS says that in an almost boundless world of devices and protocols, the only guarantee is that DNS will be used to form communication. It believes that the use of DNS provides the best intelligence on the planet, and it has the keys to unravel it.
The startup operates at an exciting period in the cybersecurity space, mostly as the COVID-19 pandemic forces employees to work remotely and customers to exchange their sensitive information online.
CEO Dave Ratner “Supply chain, phishing and ransomware attacks continue to victimise enterprises and government organisations because traditional approaches to security aren’t closing the gap fast enough. HYAS turns the table on attackers by exposing and blocking their infrastructure and communication channels.”
British Columbia is home to several cybersecurity startups. Apart from HYAS, there are startups such as Victoria-based Plurilock Security, which in September got listed on the TSX Venture Exchange and Vancouver-based Forecight.
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