FOR IMMEDIATE RELEASE | April 10, 2023
cyberconIQ Completes $4.5 Million Dollar Convertible Debt Financing
Accelerating Growth through additional investments in sales and marketing
York, PA – April 10, 2023 | In support of its continued market leadership and revenue growth, cyberconIQ is pleased to announce that StonegateIG LLC is the syndicate lead in a newly announced $4.5M Convertible Debenture placement. As the lead lender, StonegateIG feels the human side of cybersecurity risk is an obvious growth market with huge potential upside for its investors. Looking carefully at the competitive landscape, they concluded that cyberconIQ can offer clients a patented and proven solution at scale that is differentiated by its ability to not only lower risk for the company, but to drive higher employee engagement in consuming innovative security awareness training that is proven to voluntarily change on-the-job behavior, making companies safer from cybersecurity incidents and breaches.
StonegateIG was joined in this round by significant co-investment from existing individual and institutional investors including White Rose Ventures LLP, unlocking an opportunity for significant matching funds from Ben Franklin Technology Partners in addition. Martin Fedorko, Managing Partner says “White Rose Ventures is consistently impressed by cyberconIQ and their unwavering commitment to innovation and excellence within the cybersecurity industry. We are honored to invest in a company that is dedicated to making a meaningful impact across the business world.”
Says Dr. James Norrie, CEO: “As we enter our fourth year of operation, I look forward with optimism to the impact that this level of investment will have on our ability to bring our solution to more and more clients globally as we continue to demonstrate how effectively our solution can measurably lower the risk of a human-factors attack to benchmark low levels”.
Headquartered in York, PA, cyberconIQ was founded with the knowledge that technical approaches to cybersecurity alone do not address the prevalent issues we face today. With years of research and development with financial industry leaders, Dr. James Norrie discovered that our foundational CYBERology™ approach – the intersection of cybersecurity and psychology – would improve security outcomes and would advance the risk and compliance culture within organizations world-wide. With proven results that are 8 – 10x more effective than generic training alternatives, cyberconIQ’s Human Defense Platform measurably reduces the risk of a human-factors cybersecurity breach or data leak. Visit cyberconIQ.com to learn more or email us to book a demo today at info@cyberconIQ.com.
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