ALPHARETTA, Ga.--(BUSINESS WIRE)--DefenseStorm, the leading cloud-based cybersecurity, cybercompliance, and cyberfraud management provider to regional and community banks and credit unions, today announced that Curql Collective, through its Strategic Investment Fund, Curql Fund I has invested $5M thanks to DefenseStorm’s unprecedented growth, bringing total funding to $52M.
Launched in 2020, the Curql Fund I invests in the visions and innovations of fintech entrepreneurs who thoughtfully and purposefully develop world-class technology solutions that revolutionize how people engage with their money. It is managed by Next Level Ventures, which is the largest investment firm managing credit union assets today.
“Our investment in DefenseStorm is based on the value it brings to the credit union space,” said Nick Evens, CEO of Curql Collective. “No other company provides co-managed, cloud-based and compliance-automated solutions built specifically for credit unions. We saw that value right away.”
This investment further validates DefenseStorm’s product-market fit within the credit union space and comes on the heels of another major milestone, DefenseStorm’s 100th customer.
“Our goal has always been to invest our time and resources into innovative solutions that will ease the burden of cybersecurity and compliance for financial institutions,” said Steve Soukup, chief executive officer of DefenseStorm. “Adding the support of industry-leading investors at Curql and announcing our 100th customer this year is a testament not only to our hardworking employees who are constantly striving to best serve the financial industry but also to our loyal customers who believe in our mission and see value in their partnership with us.”
In the coming months, DefenseStorm plans to use this funding to further build out its CyberFraud offering, while continuing to enhance its banking-focused, automated compliance and cybersecurity offerings.
DefenseStorm provides cybersecurity, cybercompliance and cyberfraud solutions specifically built for banking to achieve and maintain Cyber Safety & Soundness. The DefenseStorm GRID is the only co-managed, cloud-based and compliance-automated solution of its kind, operating as a technology system and as a service supported by experts in FI security and compliance. It watches everything on a bank or credit union’s network and matches it to defined policies for real time, complete and proactive cyber exposure readiness, keeping security and fraud teams smart and executives accountable. DefenseStorm links GRID activities directly into control frameworks and self-assessments with automated evidence collection to easily demonstrate adherence to industry and regulatory standards. Compliance evidence can also be linked to your own unique policies and internal controls. A Threat Ready Active Compliance (TRAC) Team augments a bank or credit union’s internal team to protect business continuity and skills availability while also ensuring cost-effective coverage and management. DefenseStorm is a NAFCU Services Preferred Partner for cloud-based cybersecurity. www.DefenseStorm.com
About Curql Collective
Curql Collective is a collaborative approach that brings investment capital, credit unions, and fintech together. Launched in 2020 Curql is steered by a collective of forward-thinking credit union industry leaders, including former founders, operators, and leaders in the fintech and investment spaces. The group's flagship – Curql Fund I – invests in the visions of entrepreneurs who thoughtfully and purposefully develop financial services technology that revolutionizes and innovates how people engage with their money. For more information, please visit curql.com.