N.B. cybersecurity firm gets $16-million investment
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FREDERICTON – A New Brunswick-based cybersecurity firm says it has secured millions of investment dollars to grow its operations in Canada.
Lastwall, founded in Fredericton over a decade ago, builds security software to protect computer networks and cloud services.
An investment equity round led by the Business Development Bank of Canada’s StrongNorth fund raised $16 million for the company.
The New Brunswick Innovation Foundation, an independent non-profit originally created by the New Brunswick government, invested $1.5 million in the company, its largest-ever spend.
Lastwall counts the U.S. Department of Defence and the Canadian government among its clients.
The company’s CEO Karl Holmqvist says the cash provides an opportunity for Lastwall to put its expertise to work locally to showcase to the rest of the world.
Premier Susan Holt says the growth of Lastwall is an example of New Brunswick’s potential as an investment hub for strengthening Canada’s defence capabilities.
Holt says it’s beneficial to have domestic cybersecurity companies so that Canada doesn’t have to rely on foreign businesses.
This report by The Canadian Press was first published Aug. 25, 2026.
