Countercraft, Spanish cybersecurity company receives €1M in investment

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BY : Diego GutiérrezJuly Tue, 2016
Countercraft, the 9-month-old company that develops deception tools to detect, discover and manipulate adversaries, has received a €1M round from investors such as Adara Ventures, Orza and Wayra.
About Countercraft

CounterCraft, based in San Sebastian, aims to revolutionise the world of cybersecurity and has developed a disruptive solution that uses deception techniques and tools to detect, discover and manipulate adversaries. The company employs counterintelligence campaigns to detect and neutralise the espionage and operations of cybercriminals.

Countercraft proposes a new solution, the ability to know who your adversaries are. Its technology covers a wide range of resources that are designed to confuse the adversary into thinking they have access to real information, with the aim of detecting their attacks, hindering their actions and obtaining information about them.

Countercraft closes €1M round

This young company, which is only 9 months old, has received a €1M investment round in which the following participated Adara Ventures, Orza, Wayra and the Ministry of Economy and Competitiveness.

The objective of the round is to accelerate product development and international expansion.

Among the benefits that investors have found to decide for the company is the experience of Countercraft's partners: David Barroso (CEO), Dan Brett (CMO) and Fernando Braquehais (Software Architect), recognized worldwide in the field of cybersecurity. In addition to the holistic view of the product in the area of deception.

This round is not the first recognition that the company, despite its short history, may have a lot of potential. CounterCraft won the INCIBE acceleration programme and has received funding from CDTI and BicGipuzkoa, through SPRI, to continue the development of its innovative solution.  

Other investments made by Wayra in the cybersecurity sector

Wayra has previously invested in the cybersecurity sector, which it considers "one of the industries with the greatest potential for growth in the coming years", according to Andrés Saborido, director of Wayra Spain.

Among the companies in which Telefónica has decided to invest are Blueliv and Trustev. Blueliv, has developed a technology capable of protecting companies against information theft and credit card fraud. Trustev, an Irish company offering hybrid fraud prevention solutions.



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