Network Security: Sonae IM invests in cloud security specialist Secucloud

Hamburg-based Secucloud, a provider of Security-as-a-Service solutions for ISPs and Telecom Operators has closed its multi million Series B financing round, totally subscribed by Sonae Investment Management.

Secucloud is at the forefront of the rapidly growing cybersecurity cloud movement, leveraging the Telecom Operators’ network to offer a security solution for all connected devices, such as smartphones, tablets and IoT devices, both for the consumer and enterprise segments.

The adoption of this solution by a customer can be done with just one-click, not requiring any download, app, or update, which overcomes the drawbacks of the traditional solutions available in the market, that typically needs a higher level of customer effort and simultaneously affects devices’ performance.

Sonae IM will be part of a best-in-class shareholder structure with respected institutions and individuals from Germany, being able to contribute with its extensive exposure to cybersecurity and telecom operators on a global scale.

The transaction marks Sonae IM’s first investment in a crucial geography like Germany. “Secucloud is completely aligned with our investment strategy around the cybersecurity and telecom tech arenas. In my opinion, it is one of the most promising European cybersecurity companies led by a seasoned management team with a strong track record in this space. It relies on an awarded proprietary technology with low adoption barriers for telecom operators,” says Carlos Alberto Silva, Executive Director at Sonae IM.

Commenting on the investment, Secucloud CEO Dennis Monner adds, “The recent major cyber attacks such as WannaCry or the Equifax breach have made it obvious it’s high time we rethink the way we implement and use security. Cloud computing has already proven its enormous potential in almost any area of IT, so utilizing its many benefits for security is merely the next logical step. With Sonae IM, we’re delighted to have found a well renowned international strategic investor. Sonae has investments in a telecommunications company and, through Sonae IM’s portfolio, has direct access to more than 150 telcos globally. With this strategic partnership, Secucloud will be able to implement its already initiated international expansion even faster and wider.”

The company plans to use the funds raised to continue the expansion of its commercial reach, to scale its operations and to further develop its solutions in order to cope with the ever-evolving cyber threat landscape.

Moreover, Sonae IM reinforces its cybersecurity portfolio, which includes S21sec – a leading European MSSP (managed security services provider) based in Spain, with a strong presence in Latin America, as well as a leadership position in Portugal since its Sysvalue acquisition last year – and the recent investment in ArcticWolf Networks – a fast growing, US-based, SOC-as-a-service provider.