Baffin Bay Networks AB

Baffin Bay Networks AB provides a cloud-based Threat Protection Platform, effectively shielding businesses from various cyber threats through advanced technologies and a comprehensive suite of security services. Founded in 2017, Baffin Bay Networks AB is based in Stockholm, Sweden. The company specializes in cybersecurity solutions, focusing on protecting applications and networks. Joakim Sundberg is the CEO and founder, who has an extensive background in technology and cybersecurity.

As of March 2023, the company raised USD 6. 40 mn in Series A funding led by EQT, bringing the total amount raised to USD 6. 40 mn. The company has completed three investment deals, with the most recent deal occurring on March 20, 2023.

Baffin Bay Networks offers a robust cloud-based Threat Protection Platform that addresses cyber threats utilizing advanced machine learning and global threat intelligence. Key services include DDoS attack prevention, bot traffic management, a Web Application Firewall (WAF), and an Intrusion Prevention System, all accessible via the RiverView monitoring portal. These services cater to a diverse clientele across North America, Europe, and parts of Asia, enabling businesses of all sizes to customize their security measures. In 2022, Baffin Bay Networks generated a revenue of USD 1,952,986.

70 and an EBITDA of USD 558,052. 80. The company operates under a subscription-based revenue model, allowing clients to engage with flexible pricing plans for their cybersecurity services, primarily in a B2B context. Baffin Bay Networks plans to leverage the recent acquisition by MasterCard Worldwide to enhance its cybersecurity offerings and expand into new markets.

The acquisition will enable the company to integrate its services with MasterCard's comprehensive protection strategies against cyber risks. Further details regarding the launch of new products and specific geographic expansions have yet to be disclosed.