ThreatConnect, Inc.®, provider of the industry’s only
intelligence-driven security operations platform announced a new
strategic growth investment led by Providence Strategic Growth (PSG),
the growth equity affiliate of Providence Equity Partners. This growth
investment is intended to help continue the ThreatConnect Platform’s
path of innovation and further the company’s continued leadership in its
market.
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ThreatConnect originally launched its Platform in 2014, gained market
leadership in the threat intelligence platform market, and has since
grown to serve more than 1,600 organizations worldwide. In 2017 the
company added advanced orchestration and automation capabilities to the
Platform, expanding its value to a broader security operations market.
In just the last year, the usage of these advanced orchestration and
automation “Playbooks” in the Platform has increased more than 40%, now
executing more than 23,000 Playbooks per month per customer on average.
In 2018, ThreatConnect was selected by Inc5000 as one of the fastest
growing companies in the US, and by Washington Business Journal as one
of the DC area’s 75 Fastest Growing Companies. The company’s growth,
along with its value proposition to change how businesses manage their
security, drove PSG’s interest in investing in the company.
ThreatConnect CEO Adam Vincent said, “PSG’s deep experience investing in
technology companies that are reshaping the way business is done make
them an ideal partner for ThreatConnect. PSG portfolio companies are
helping other businesses run smarter, cheaper, and faster. And, since
ThreatConnect is helping companies with smarter, faster decision making
in security, this seemed like a very natural fit.”
The new funding is aimed at accelerating ThreatConnect’s go-to-market
strategy, supporting further development of the Platform, and expanding
its ability to build a successful community of customers and partners.
The company plans to increase its staff by more than 50% over the next
12 months both domestically and abroad, which is expected to further
accelerate product and revenue growth in the coming years.
PSG Managing Director Gopi Vaddi said, “Our vision for digital
transformation of businesses through software aligns well with
ThreatConnect’s vision for intelligence-driven security. Security
software is one of the priority sectors for PSG, and we are excited to
have found a high quality organization in ThreatConnect led by Adam
Vincent and his team – a relationship we cultivated for several years.
We look forward to working with Adam and the rest of the ThreatConnect
leadership team to accelerate what is already a successful and fast
growing organization.”
PSG is ThreatConnect’s sole institutional investor.
About ThreatConnect
ThreatConnect, Inc. provides a proactive and efficient approach to
security by enabling enhanced detection, shortened response, and reduced
risk. Designed by analysts but built for the entire team (security
operations, threat intelligence, incident response and security
leadership), ThreatConnect’s intelligence-driven security operations
platform is the only solution available today with intelligence,
automation, analytics, and workflows in a single platform. To learn more
about our threat intelligence platform (TIP) or security orchestration,
automation, and response (SOAR) solutions, visit www.ThreatConnect.com.
About Providence Strategic Growth Capital Partners LLC
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity
Partners (“Providence”). Established in 2014, PSG focuses on growth
equity investments in lower middle market software and
technology-enabled service companies, primarily in North America.
Providence is a premier global asset management firm that pioneered a
sector-focused approach to private equity investing with the vision that
a dedicated team of industry experts could build exceptional companies
of enduring value. Since the firm’s inception in 1989, Providence has
invested in more than 180 companies and is a leading equity investment
firm focused on the media, communications, education and information
industries. Providence is headquartered in Providence, RI, and also has
offices in New York and London. For more information on PSG, please
visit https://www.provequity.com/private-equity/psg,
and for more information on Providence, please visit https://www.provequity.com.
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