Adara Ventures leads $5m round for CounterCraft

German venture capital firm eCapital also took part in the investment, alongside Red Electrica Group, a Spanish business group that invests in startups through its technology arm.

The financing round also saw participation from existing backers Evolution Equity Partners, Basque Country-based Orza and Wayra, Telefonica's open innovation hub.

The company intends to use the fresh capital to scale up its team and platform, while consolidating its market presence in continental Europe and the UK, and expanding to the US.

Previous funding
Adara led a €1m funding round for CounterCraft in July 2016. The Spanish Economy Ministry and Telefonica Open Future also took part in the funding round.

Subsequently, Adara led an additional €2m round for the company in March 2018, with participation from Evolution Equity Partners, Orza and Wayra.

Company
Founded in 2015 and based in San Sebastian, with offices in Madrid London and Washington, CounterCraft is a cybersecurity software developer.

The business has developed a counter-intelligence-driven approach to cybersecurity, using a variety of techniques to provide information about hackers and their methods.

People
Adara Ventures – Alberto Gomez (managing partner).
CounterCraft – David Barroso (CEO, co-founder).

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