A major investment to accelerate innovation at Mondata and boost the marketing of cybersecurity solutions
QUÉBEC CITY, June 13, 2024 /CNW/ - Mondata today announced the close of a successful $17 million funding round led by the Fonds de solidarité FTQ, and in which Desjardins Group participated. These funds will enable Mondata to strengthen its commitment to protecting Québec and Canadian businesses, to accelerate product innovation and to boost marketing with the large-scale launch of "Proactive Cybersecurity," a new product designed to guide and empower users to reduce the risk of cybersecurity incidents, directly from the TEAMS application.
Mondata has made a name for itself with its MD.ECO, a platform that offers an end-to-end cybersecurity ecosystem for organizations of all sizes. With the addition of the Proactive Cybersecurity technology, Mondata offers a powerful awareness and training tool that enables users to improve their organization's cybersecurity posture as well as their knowledge in just five minutes a week. By providing practical advice and analyzing behaviour in real time, this solution helps users adopt best practices for enhanced cybersecurity.
Martin Berthiaume, cybersecurity expert, founder and Chief Product Officer of Mondata, has taken advantage of this funding to hand over the role of CEO to Yves Eric Laliberté in order to devote all his time to innovation and meeting customer needs.
"Given the speed at which cybercrime is evolving, organizing and expanding, we are convinced that businesses need to turn to professionals for solutions to support their defence efforts. This investment will allow us to focus more on innovation, to market our new product "Proactive Cybersecurity," and to offer MD.ECO, our 24/7 incident detection and response platform, to more companies," said Mondata President and CEO Yves Eric Laliberté.
"I'm very proud of our team of professionals who work tirelessly to ensure the best possible protection for our customers. The cutting-edge tools we are developing are second to none and enable us to quickly react and adjust to new threats. Also, I'd like to thank our customers for believing in Mondata. It's thanks to their trust and support that we've been able to attract major investors," said Martin Berthiaume.
"Companies need to make the technology transition in a secure manner. Thanks to the development and acceleration of platforms like MD.ECO, Mondata ensures companies are well-equipped to fend off cyber-attacks. The Fonds is proud to invest in and to have led the funding round for this company specializing in cybersecurity technologies," said Dany Pelletier, Executive Vice-President, Private Equity and Impact Investing, at the Fonds de solidarité FTQ.
"Cybersecurity is a concern for all companies, whatever their sector or size. The financial, operational or reputational repercussions of a cyber attack can be disastrous for a company if it is not well prepared. That's why Desjardins considers it vital to help businesses protect themselves against these risks. Our support for Mondata's growth helps us achieve this objective," said Jean-Yves Bourgeois, Executive Vice-President, Business Services, at Desjardins Group.
About Mondata
Founded in 2017, Mondata seeks to make cybersecurity accessible to Québec and Canadian organizations, and to educate users on best cybersecurity practices. To that end, Mondata offers cloud-based automated cybersecurity solutions powered by artificial intelligence.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 769,459 shareholders.
With net assets of $18.9 billion as at November 30, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments based on the belief that impact is created as much by financial as social returns. For more information, visit fondsftq.com or our company page on LinkedIn.
About Desjardins Group
Desjardins Group is the largest cooperative financial group in North America and the fifth largest in the world, with assets of $435.8 billion as at March 31, 2024. Desjardins was named one of Canada's top 100 employers in 2024 by Forbes and Mediacorp. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms, and subsidiaries across Canada. Ranked among the world's strongest banks according to The Banker magazine, Desjardins has some of the highest capital ratios and credit ratings in the industry.
SOURCE Fonds de solidarité FTQ
Press contact: Fonds de solidarité FTQ, Frédérique Lavoie-Gamache, Advisor, Press Relations, 438 364-1596, [email protected]
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