HUB Security, a Tel Aviv, Israel-based developer of confidential computing cybersecurity solutions and services, announced that it has entered into an agreement for up to $16 million in gross proceeds.
The investment was from Lind Global Asset Management VI LLC, an investment entity managed by The Lind Partners, a New York-based institutional fund manager (together, "Lind").
This investment is expected to provide HUB Security with additional resources to fuel its rapid growth and development, enhance its financial stability, and enable the company to pursue its plans.
"The additional funding from The Lind Partners fortifies our balance sheet and enables us to position HUB Security as a leading confidential computing cybersecurity solutions provider in the market," said Uzi Moskowitz, CEO of HUB Security. "We are thrilled to have Lind as a partner in our journey. Their unwavering commitment and support will undoubtedly propel us even further towards achieving our goals of enhancing our technology development and expanding our go-to-market strategies."
Under the terms of the agreement with Lind, HUB Security will have access to up to $16 million in convertible debt financing in three tranches, which will mature over two years.
Company: HUB Cyber Security Ltd.
Raised: up to $16.0M
Round: Growth Round
Funding Month: May 2023
Lead Investors: Lind Global Asset Management VI LLC
Company Website: https://hubsecurity.com/
Software Category: Confidential Computing Cybersecurity Solutions
About the Company: Established in 2017, HUB Security specializes in unique cybersecurity solutions protecting sensitive commercial and government information and is a recognized leader in the rapidly evolving field of zero-trust confidential computing, an area of cybersecurity that protects data even when computers are infected, and administrators are compromised. HUB Security's computing solutions aim at preventing hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. The Company operates in over 30 countries and provides innovative cybersecurity computing appliances as well as a wide range of cybersecurity services worldwide.