MONDATA receives substantial funding from BDC Capital to accelerate the launch of MD.ECO, its new cybersecurity ecosystem
Quebec City, January 18, 2021 – MONDATA, a promising new company aiming to make cybersecurity accessible, has been granted funding from the Growth & Transition Capital division of BDC Capital. This considerable injection of funds will help the company accelerate the launch of MD.ECO, a unique new cloud computing platform for organizations of all sizes looking to optimize and secure their information technology use through automation and artificial intelligence.
By subscribing to MD.ECO, any company can now access cutting-edge technologies, enabling them to significantly reduce their technological risk, which is now more present than ever given the marked increase in telework in recent months.
MONDATA approached BDC Capital for non-dilutive funding to accelerate the marketing and ongoing development of its MD.ECO platform. The new funds are to be used more specifically for sales and marketing efforts and for hiring new specialists. A portion has also been set aside to increase the company’s working capital. BDC Capital’s solution is a mezzanine loan with patient and flexible terms, including a capital repayment holiday until maturity. This solution is particularly well suited to the needs of fast-growing companies, including technology companies such as MONDATA, because it makes more of their cash available during the loan period for reinvestment.
Martin Berthiaume, President and CEO of MONDATA, explained, “With the digital transformation, data is at the centre of business processes. Businesses must be able to protect their data adequately and effectively in order to be successful. Innovation in cybersecurity is a key element in enabling businesses to compete globally.”
The transaction was overseen by Charles Blouin, Director, Technology Group, Growth & Transition Capital, at BDC Capital’s Quebec City office. “Martin Berthiaume is one of the great visionaries in the cybersecurity sector in Quebec and he has assembled one of the province’s largest team of experts in the field,” explains Blouin. “Although MONDATA is a relatively young company, its management team is highly experienced and we have no doubt about its ability to carry out its ambitious business plan.”
Founded in 2017 by entrepreneur Martin Berthiaume, MONDATA’s mission is to make cybersecurity accessible to organizations of all sizes and to educate and raise awareness among users on the right security behaviours to adopt. To do so, MONDATA offers cybersecurity and cloud computing products and services that employ automation and artificial intelligence.
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.