Halifax, Nova Scotia-based security intelligence company LifeRaft has secured a minority investment from Canadian Business Growth Fund. No financial terms were disclosed. Founded in 2014, LifeRaft three years ago closed a Series A financing led by Mike Durland, head of Melancthon Capital.
HALIFAX, NS, Oct. 28, 2020 /CNW/ – LifeRaft, a Nova Scotia–based security intelligence company, announced a minority equity raise from The Canadian Business Growth Fund (CBGF). LifeRaft enables enterprises to be alerted of security threats and business risks using online threat intelligence and will use the proceeds from this equity raise for product development, sales & marketing expansion, and for working capital purposes.
Headquartered in Halifax, Nova Scotia, LifeRaft’s critical risk detection software, “Navigator”, delivers proactive and real-time alerts that allow a company to protect its employees, customers, and assets. The integrated suite of investigative features can be used to understand and explore issues such as crisis management, critical infrastructure monitoring, executive protection, facility security, fraud prevention, location monitoring, and threat detection.
LifeRaft has over 100 blue-chip customers including many of the Fortune 100 in over 25 countries across industries such as Broadcasting & Telco, Finance & Insurance, Healthcare, Energy, Hospitality, and more. “We are extremely proud of the product and team we have built, which is helping to keep some of the most recognized brands around the world safe,” says John Gallinaugh, Chief Executive Officer, LifeRaft. “As the security landscape evolves, we are thrilled to have the support from CBGF to deliver on the high expectations of innovation and support that our customers have come to expect from LifeRaft.”
This investment marks CBGF’s second investment in Nova Scotia, recognizing the strength of the maritime scale up ecosystem and entrepreneurial hub that exists. “We are excited to announce our partnership with the LifeRaft team and further support Canadian companies,” says George Rossolatos, Chief Executive Officer, Canadian Business Growth Fund. “We believe LifeRaft has built an extensive platform and customer base to date and provides a unique, and important offering to enterprises as external security threats continue to increase. We look forward to helping John and the LifeRaft team execute on their vision and plans for growth. ”
With the support of the investment, LifeRaft will be able to deliver critical software developments, enabling customers to strengthen their security programs with leading edge intelligence capabilities. “Beyond the financial investment, we are very much looking forward to the expertise CBGF will bring to the table as we strive to provide the best technology possible to security and intelligence professionals around the world,” says Gallinaugh.
LifeRaft Inc. is a security intelligence company that enables enterprises to monitor and identify security threats and business risks from online sources. LifeRaft’s critical risk identification software, “Navigator”, provides an integrated suite of investigative features for use cases such as crisis management, critical infrastructure monitoring, executive protection, facility security, fraud prevention, location monitoring, and threat detection. Headquartered in Halifax, Nova Scotia, the company specializes in providing proactive and real-time alerts that allows a company to protect its employees, customers and assets.
LifeRaft Inc. was founded in 2014 and is led by John Gallinaugh (CEO), Eduardo Capouya (CTO), Darren MacLeod (CBO) and Mary Jane Leslie (CGO), who collectively bring significant experience in start up and Fortune 150 technology companies.
About Canadian Business Growth Fund
The Canadian Business Growth Fund (CBGF) provides long-term, patient, minority capital to ambitious entrepreneurs to fund growth and expansion of mid-market businesses with investments between $3 to $20 million. An evergreen investment fund with capital commitments of $545 million, CBGF is committed to long-term partnerships with the companies it invests in. As part of its mission to drive growth, CBGF connects business leaders and sector experts to help its partner businesses achieve their full potential. For companies seeking investment opportunities, please email us at firstname.lastname@example.org. To learn more, please visit us at www.cbgf.com.