On December 9, 2022, Field Effect, a global cybersecurity SaaS company, has successfully completed its funding round, securing $46.88 million (US$34.5 million). The funding was led by Edison Partners, a prominent U.S. growth equity firm, and Round13 Growth Fund, a notable late-stage Canadian growth equity fund. Field Effect was established to cater to the cybersecurity needs of the small and medium enterprise (SME) market, which had been largely underserved. The company offers Field Effect Covalence®, a platform that monitors and responds to cyber threats across various digital touchpoints, and Field Effect Cyber Range®, a simulation-based training platform for cybersecurity. As SMEs face similar cyber threats to Fortune 1000 companies but without equivalent resources, Field Effect provides affordable solutions tailored to their needs. Lenard Marcus from Edison Partners, who led the investment, will join Field Effect's board of directors. Both Edison Partners and Round13 Growth Fund expressed their confidence in Field Effect's potential to lead the cybersecurity market for SMEs. The company also extends professional cybersecurity services, reinforcing its commitment to ensuring global business security. CEO Matt Holland emphasized the company's vision of securing companies worldwide and stated that with the new funding and investor support, they are nearer to achieving this ambition.