Victoria-based Cybersecurity Start-up HYAS Raises $20 Million Series B Round

Betakit recently reported that HYAS, a Victoria, British Columbia-based cybersecurity start-up, has raised CAD$20 million in its Series B financing round. The round was led by Austin, Texas-based S3 Ventures with additional participation from Uncorrelated Ventures, Tightline Holdings, Cyber Mentor Fund, and Dcode Capital. M12, Startup Capital Ventures, and 205 Capital, who all previously invested in HYAS, also participated in the round. Charlie Plauche, partner at S3 Ventures, will join HYAS’ board of directors. The financing will support HYAS as it seeks to develop its “cyber attack infrastructure identification and blocking technology”. Specifically, HYAS will use the funds to accelerate product development and market expansion.
HYAS was founded in 2015 and “offers a security solution that integrates into a company’s existing security tech stack, in order to proactively detect and prevent cyber threats before they happen”. HYAS currently has a number of Fortune 100 companies in its portfolio of clients. Cybersecurity is a growing market and Deloitte’s Cyber Intelligence Center has noted an increase in cyberattacks during the COVID-19 pandemic. It is certainly an exciting time for the cybersecurity sector, especially as it is predicted that global enterprises will spend US$12.6 billion on cloud security tools by 2023.
Author: Andrew Patel
Photo by cottonbro studio from Pexels
Authors
Expertise
Insights
-
Technology
Canadian Tech Companies Taking up Space in the European Market
Canadian tech companies have recently broken the mold and begun exploring opportunities in Europe. For the past decade, these companies were hesitant to enter the European market due to complex… -
Technology
Xatoms Launches Water Purification Pilot Projects with $3 Million in Pre-Seed Funding
Xatoms recently announced the completion of C$3 million in pre-seed funding (C$2 million in equity and C$1 million in non-dilutive grants) to begin commercializing its technology for both industrial… -
Technology
From Lab to App: NiaHealth Raises C$5.75M to Redefine Canadian Health Monitoring
The Alberta-based startup NiaHealth has secured C$5.75 million in seed funding to support its mission of transforming long-term health management for Canadians. The company is attempting to position… -
Technology
Canada Growth Fund Commits $89M to Calgary Cleantech Firm Eavor, with Potential for Additional $48M
The Canada Growth Fund (“CGF”) has announced a C$89 million investment in Calgary-based Eavor Technologies (“Eavor”), a global leader in closed-loop geothermal energy. An additional C$48 million may… -
Technology
Alta raises $11M to bring AI Fashion Tech to Life
Alta Daily (“Alta”), founded by Jenny Wang, is an innovative startup that is transforming how artificial intelligence can assist users with personal styling. Shortly after launching the company, Wang… -
Technology
Web Summit Vancouver 2025: A Resounding Success
Web Summit is a growing international technology conference that has rapidly become “one of the world’s biggest and best”. As the predecessor to Toronto’s highly-successful Collision conference, Web…