KPN Ventures, the venturing arm of KPN, has invested in Dutch cyber security company EclecticIQ, as part of €5.5 million Series A investment round. The Amsterdam-based start-up will use the funding from INKEF Capital and KPN Ventures to expand into new geographic markets and industry sectors.
EclecticIQ is a leading vendor of threat intelligence software technologies, supporting cyber threat intelligence practices in large enterprises, in sectors including financial services, government and other organizations with critical infrastructure.
Herman Kienhuis, managing director KPN Ventures, said: “There is a strong market momentum in the cyber threat intelligence market. The experienced team at EclecticIQ has taken a unique process-centric approach to analyse and manage cyber threat intelligence data, and incorporate insights into enterprise workflows. Improving online security is also a priority for KPN, not only by offering secure networks and systems for customers, also by investing in companies that improve processes and services with regards to cybersecurity, such as EclecticIQ.”
The proceeds of the sale of KPN’s stake in Jasper Technologies, following the $1.4 billion acquisition by Cisco, will be transferred to KPN Ventures. The total amount of the fund will increase to EUR 70 million. KPN Ventures invests according to strict criteria, both directly and indirectly, in companies with innovative products and business models to create technological and economical synergies with KPN and its customers.
KPN Ventures is the venturing arm of KPN, The Netherlands’ leading telecom & ICT company. KPN Ventures invests, both directly in high-growth European technology start-ups, while also investing indirectly through fund-in-fund investments. KPN Ventures provides access to capital, to KPN’s extensive expertise in connectivity, security and related technologies, to its leading network infrastructure and to its large customer base. KPN Ventures focuses on early growth-stage investments in European technology companies in the segments: Internet of Things, Smart Home, e-Health, Cyber Security, OTT and Cloud services and Data & analytics applications. KPN Ventures has its main office in Rotterdam and has invested a.o. in Actility and Jasper Technologies.