Terranova Security, a Laval, Quebec-based provider of cybersecurity awareness training content, has secured C$9 million in non-dilutive financing. The loan was provided by BDC Capital’s Growth and Transition Capital division. It will allow Terranova to redeem the shares held in the company by an institutional investor.
Laval, October 15, 2021 – Terranova Security has secured $9 million in non-dilutive financing from BDC Capital’s Growth and Transition Capital division. This will allow them to redeem the shares held in the company by a major institutional investor. Founded and led by Lise Lapointe, a renowned technology entrepreneur, and based in Greater Montreal, Terranova Security is now a global leader in digital cybersecurity training, according to research firm Gartner.
In order to train “cyber heroes” around the world, Terranova Security offers more than 1,500 courses in some 35 languages on cybersecurity and data protection. Aware of the considerable vulnerability represented by the human factor and anticipating the growing need for cybersecurity and privacy, Lise Lapointe founded Terranova Security 20 years ago. She had just sold her previous business, the Microcode training centre, to Telus. Lise Lapointe has been actively involved in the IT field for many years and in 2020 was recognized as one of Canada’s Top 20 Women in Cybersecurity by IT World Canada.
Terranova Security transferred its platforms and content to software as a service (SaaS) in 2018 to ensure its ongoing growth in this sector, which is expected to continue to expand in the coming years. The firm can also leverage new partnerships with Microsoft and Cisco, which integrate its solutions into some of their products for their business clients. It also has numerous international clients on the Forbes Global 2000 list and the CAC 40 index.
Terranova Security chose BDC Capital as a partner because of its ability to provide the full amount of financing required in a timely and flexible manner. In particular, the terms of the loan were adapted to the company’s expected inflow of funds at different times of the year according to its contracts.
“This funding will allow Terranova Security to continue on its growth trajectory and pursue its mission as a global partner and top expert in cybersecurity awareness training,” said Lise Lapointe, Terranova Security’s founder and CEO. We are proud to be supported by a renowned company like BDC Capital.”
The financing package was developed by Jean-Philippe Poissant, Director, Technology, Growth and Transition Capital, BDC Capital. “Lise Lapointe is an innovative, ambitious and highly experienced entrepreneur. She invested at the right time to modernize Terranova Security’s platform and position it for strong growth, which is already well underway,” Mr. Poissant said. “Cybersecurity is an area of great interest to BDC Capital. There is a need worldwide given the growing presence of information technology and telework. We are increasingly looking to support leading Canadian companies like Terranova Security that are proposing effective solutions to prevent this risk both now and in the future,” he added.
About Terranova Security
Terranova Security is a global security awareness training leader selected by Microsoft as their partner of choice to bring the best in security awareness training content to customers. Successful Terranova Security awareness programs and phishing simulations have provided organizations around the world with the highest-quality content, most multilingual security awareness platform, training and communications portfolio and intuitive phishing simulator in the industry. Organizations continue to leverage the Terranova Security awareness 5-step framework which provides an evidence-based, step-by-step approach to a successful security awareness program. Terranova Security is working with organizations and security awareness teams worldwide to design programs that drastically reduce the human risk factor to effectively counter all cyber attacks. Learn more at terranovasecurity.com.