Computest focuses on strong growth in cybersecurity with investment from Mentha

Computest, a specialist in cybersecurity services, performance testing and DevOps, has entered into a partnership with investor Mentha. The aim of the partnership is to accelerate growth and become a leading player in cybersecurity services. In addition, Computest seeks to build upon its strong position as a DevOps specialist.

Computest was founded in 2005 by Hartger Ruijs. Under his leadership the Zoetermeer-based company has grown into an organisation with over 100 highly qualified specialists. They ensure that organisations’ applications and infrastructures work optimally and securely. Computest has built a strong reputation in this field. By way of example, ethical hackers from the company recently won an international hacker competition by exposing a vulnerability in Zoom.

Hartger Ruijs, CEO and founder of Computest: “Together with Mentha we can actually conquer the market and accelerate the growth that we have seen over the past 15 years. Mentha is actively involved and brings wide-ranging expertise and experience in helping companies to maximise their potential. I am therefore very confident that together we can realise Computest’s ambitious growth plans.”

Barend Rutten, partner at Mentha: “The number of ransomware attacks and data leaks is expected to rise further in the coming years, along with an increased demand for cybersecurity services. Investing in protection, detection and incident response is increasingly becoming a prerequisite for business continuity. This offers opportunities for Computest, which has proven high-quality expertise and specialists in this area. We look forward to guiding the company to the next growth phase with knowledge, expertise and capital.”


About Mentha

Mentha is an independent equity company that invests in established, medium-sized and profitable companies with significant growth potential. Mentha is actively involved in companies in its portfolio and supports management teams in realising ambitious growth plans, through organic growth, international expansion and/or through a buy-and-build strategy. In doing so, it creates stronger and larger companies with considerable strategic value.

For more information:

Categories: News


ReaQta Closes Series-A Round to Expand Commercial Operations

Fortino Capital
  • Founded by an elite team of attack and defense cyber security experts, ReaQta’s Autonomous Detection​ & Response platform provides advanced endpoint security and operational resilience for the mid-market.
  • Moving away from the traditional cyber security model of blocking known and predictable threats, ReaQta leverages deep learning and dynamic behavioral analysis to map the status quo, identify abnormal behavior and protect against new attack techniques.
  • New funding from Alpha Intelligence Capital, Fortino Capital, InvestLink and Integra Partners will be used to expand commercial operations.


Amsterdam, The Netherlands – May 19, 2021 – ReaQta, a leading provider of advanced cyber security solutions for the autonomous detection and response of cyber threats, has closed an over-subscribed Series A funding round led by Alpha Intelligence Capital with participation from Fortino Capital, InvestLink and Integra Partners. ReaQta will invest the funding to expand its commercial operations and footprint, particularly across Europe and Asia.

ReaQta’s active defense intelligence platform aims to solve for the increasing number of businesses falling victim to malicious activities from cyber criminals and nation states actors. While traditional protection methods fight known threats and stand vulnerable to sophisticated attack techniques, ReaQta’s revolutionary platform stops known and unknown threats in real-time. Through deep learning, the platform constantly improves on defining normal behavior tailored to each business per endpoint, allowing it to block any abnormal behavior.

Additionally, traditional solutions require internal or external cybersecurity teams to act on any flagged threats. ReaQta’s platform not only detects threats, but also allows for a seamless and automated threat response in real-time. ReaQta was recently named a 2020 Cool Vendor by Gartner in Network and Endpoint Security for this unique approach in tackling cyber threats of all forms.

“We are extremely proud to partner with AIC, a deep-technology AI investor, and InvestLink, cyber-security veterans and founders of Securelink as well as Fortino Capital a B2B SaaS specialist with operating partner. With their support, we aim to accelerate growth and evolve from a promising scale-up to a leader in the cyber security space.” Alberto Pelliccione, Co-Founder and CEO of ReaQta, said. “The funding will mainly be used to expand our sales, marketing and support teams internationally. Reaching this milestone has been made possible thanks to our amazing team.”

“The increased interconnectivity of endpoints and data and the rise of malicious activities from threat actors over the last few years has created a substantial threat to business continuity,” Frank Staut, Managing Partner at InvestLink and  Co-Founder/CTO at Securelink, a leading enterprise cybersecurity provider in Europe which was acquired by Orange said. “We have analyzed this segment for several years and are convinced that ReaQta provides an industry-leading solution. The maturity and reference projects of the company’s Autonomous Detection & Response platform, in combination with a stellar team, sets them apart.”

Antoine Blondeau, Founder & Managing Partner of AIC, said “We believe in the disruptive potential of ReaQta’s threat-hunting solution. ReaQta is one of the first to combine deep learning with behavioral analytics to perform cyber threat-hunting, with an unparalleled degree of automation. As organizations move to remote work streams, increasing their number of endpoints, ReaQta is well positioned to capture the market’s explosive growth.”


About ReaQta

ReaQta is Europe’s top-tiered AI Autonomous Detection & Response platform, built by an elite group of cyber security experts and AI/ML researchers with extensive backgrounds in government intelligence operations. Built with advanced automated threat-hunting features, ReaQta allows organizations to eliminate the most advanced threats in real-time. As experts in AI and behavioral analysis, ReaQta’s proprietary dual-AI engines provide organizations across all industries with autonomous, real-time and fully customizable endpoint security, minus the complexity. As a result of unprecedented levels of automation coupled with intuitive design, ReaQta’s customers and partners benefit from performance improvements and are now able to manage and secure more endpoints without the need for highly skilled staff. For more information, visit


About AIC

Alpha Intelligence Capital (AIC) is a global venture capital fund investing exclusively in disruptive Artificial Intelligence/Machine Learning (AI/ML) technology-based companies. AIC has approximately $185 million under its main fund with access to large pools of co-investment capital. AIC’s teams operate out of San Francisco, Hong Kong and Paris. AIC has currently invested in over 19 companies globally, in the US, Israel, Europe and China. For more information, visit


About Fortino

Fortino Capital is a pure play European B2B SaaS investor operating out of Amsterdam and Antwerp. Fortino has backed over 70 founders to date and holds c.€430m in AuM across 3 funds, of which 2 are early-stage VC and one PE / growth equity.


Media contacts

Elizabeth Lee
Communications Manager


Categories: News


Cybersecurity Penetration Testing Leader NetSPI Secures $90 Million in Growth Funding Led by KKR


May 12, 2021

Investment to Fuel Innovation and Growth, Including Global Expansion and Product Innovation

MINNEAPOLIS, May 12, 2021 /PRNewswire/ — NetSPI, the leader in enterprise penetration testing and attack surface management, today announced it has raised $90 million in growth funding led by KKR, with participation from Ten Eleven Ventures. The investment will be used to further accelerate NetSPI’s rapid growth by expanding the company’s cybersecurity and client experience teams, investing in product innovation, and deepening operations across U.S. and international markets.

“The reality is that cyber security attacks today are inevitable and put organizations at grave risk,” said NetSPI President and Chief Executive Officer Aaron Shilts. “At NetSPI, we strive to stay one step ahead of hackers, breaches, and bad actors by focusing on prevention-based security techniques. Rooted in the founding tenets of the company, our goals are purposely aggressive to help our clients adapt to the constantly evolving threat landscape.”

Since its founding, NetSPI has focused and customized its services to help companies proactively defend themselves from cyberattacks through a robust and innovative technology platform, ensuring computer systems and networks thoroughly identify and address security vulnerabilities in an efficient and comprehensive manner. At a time when cybersecurity spending is expected to exceed $200 billion per year by 2024, according to a recent Bloomberg Intelligence (BI) report, more companies are preparing to fend off sophisticated cyber-attacks and avoid reputational and business risks.

“Our clients rely on us to help secure their ever-evolving attack surface by leveraging our expertise in cloud, red team, application, and network security,” continued Shilts. “This investment from KKR and Ten Eleven Ventures allows NetSPI to better meet this demand while simultaneously fueling growth and innovation as a leader in the booming cybersecurity market. With our investors’ support, NetSPI will continue to transform the industry with a focus on attack surface management, enterprise security testing, and vulnerability management.”

“NetSPI has built a differentiated suite of tech-enabled services that are not only enhancing cybersecurity for complex global enterprises across a wide range of industries but are simultaneously disrupting the traditional penetration testing market in order for these enterprises to security test at scale,” said Ben Pederson, Principal at KKR. “We are excited to invest in NetSPI’s growth as they build and deliver these critically important offensive security solutions.”

Jake Heller, Head of KKR’s Technology Growth team in the Americas, added: “Aaron and his team have a deep appreciation for the needs of their customers and the increasing demand for best-in-class, tech-enabled cybersecurity systems, which we have witnessed firsthand throughout KKR’s global portfolio of companies who rightfully and consistently identify cybersecurity among their top IT priorities.”

KKR is investing in NetSPI through its Next Generation Technology Growth Fund II. Together with Ten Eleven Ventures, KKR has invested in market-leading cybersecurity companies including Darktrace, KnowBe4, Ping Identity, Cylance, ForgeRock, and ReliaQuest.

“Penetration testing is a critical component of any enterprise’s security program and will continue to be an important part of compliance and regulatory requirements in the future,” said Mark Hatfield, General Partner, Ten Eleven Ventures. “With its deep expertise and automated platform, NetSPI has developed an incredibly effective and efficient approach to penetration testing and attack surface management. We’re thrilled to partner with this exceptional team and look forward to drawing on our cybersecurity expertise to help NetSPI bring its technology to more companies across the globe.”

After spending its first several years as a bootstrapped, profitable business, in 2017 NetSPI partnered with Sunstone Partners, who has been instrumental to the company’s growth post-investment. Gus Alberelli, Managing Director of Sunstone Partners, said: “We’re incredibly fortunate to partner with NetSPI’s team and proud of the company’s extraordinary growth stemming from its technology-enabled penetration testing team. We are excited for KKR and Ten Eleven Ventures to join Sunstone Partners in supporting NetSPI’s growth journey.”

The investment is the latest transaction in a period of accelerated growth for NetSPI. Most recently, NetSPI acquired Silent Break Security and incorporated its proprietary Adversary Simulation and Red Team Toolkit software into the company’s offensive cyber security and attack surface management offerings. In 2020, NetSPI launched Penetration Testing as a Service (PTaaS) powered by its Resolve™ platform. Upcoming additions of risk scoring, vulnerability intelligence, breach and attack simulation, and more will continue to differentiate NetSPI’s technology offerings.

Goodwin Procter LLP advised NetSPI on the transaction and Latham & Watkins LLP advised KKR and Ten Eleven Ventures.

About NetSPI
NetSPI is the leader in enterprise security testing and attack surface management, partnering with nine of the top 10 U.S. banks, three of the world’s five largest health care companies, the largest global cloud providers, and many of the Fortune® 500. NetSPI experts perform deep dive manual penetration testing of application, network, and cloud attack surfaces, historically testing over 1 million assets to find 4 million unique vulnerabilities. NetSPI offers Penetration Testing as a Service (PTaaS) through its Resolve™ platform and adversary simulation through its Red Team Tool Kit. NetSPI is headquartered in Minneapolis, MN and is a portfolio company of growth equity firm Sunstone Partners, KKR, and Ten Eleven Ventures. Follow us on Facebook, Twitter, and LinkedIn.

About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at  and on Twitter @KKR_Co.

About Ten Eleven Ventures
Ten Eleven Ventures is the original venture capital firm focused solely on investing in digital security. The firm invests globally and at all stages, from seed to growth (the latter via its Joint Investment Alliance with KKR). Since its founding in Silicon Valley in 2015, Ten Eleven Ventures has raised nearly $US 500 million and invested in 30 leading cybersecurity companies including KnowBe4, Darktrace, Twistlock, Verodin, Cylance, and Ping Identity. For more information, please visit or follow us on Twitter @1011vc.

About Sunstone Partners
Sunstone Partners is a growth-oriented private equity firm that makes majority and minority investments in technology-enabled services and software businesses. Recently recognized as one of Inc.’s 2020 PE 50 founder-friendly private equity firms for entrepreneurs, the firm seeks to partner with exceptional management teams, often as their first institutional capital partner, to help accelerate organic growth and fund acquisitions. Founded in 2015, the firm has $800 million of committed capital to its first two funds. For more information, visit

Media Contacts:

Jean Hill, Maccabee PR for NetSPI
(612) 294-3154

Cara Major or Miles Radcliffe-Trenner
(212) 750-8300

Ten Eleven Ventures
Megan Dubofsky
(917) 576-5590


Categories: News


Eurazeo signs an exclusivity agreement aiming at investing in I-TRACING, a French leading independent provider of Cybersecurity Services


Eurazeo’s small-mid buyout team1 has signed an exclusivity agreement with the aim of investing in I-TRACING alongside the company’s management and founders Theodore-Michel Vrangos and Laurent Charvériat, who would collectively hold 49% of the company’s equity after completion of the transaction.
Keensight Capital, minority financial shareholder since 2017, would sell its entire stake while Sagard NewGen would invest as a minority shareholder in a holding company controlled by Eurazeo.

The transaction would value I-TRACING at €165 million. Eurazeo would become an anchor investor of the group by investing around €65 million.
I-TRACING was founded in 2005 and offers a comprehensive range of high-value-added services to secure its clients’ IT systems: consultancy, audits and pen tests, integration of diversified software solutions and associated managed services, identity and access management, operation of SOCs (Security Operations Centers) as well as deployment of cyberattack response units (CERTs or Computer Emergency Response Teams).

Headquartered in Paris, I-TRACING employs more than 285 experts who help their clients (CAC40, SBF120 and medium-sized companies) with all of their cybersecurity needs. The company also has subsidiaries in Montreal, Hong Kong and London, enabling the group to offer managed services and support on a 24/7 basis. In 2020, I-TRACING generated nearly €50 million of revenue, up around 40% vs. 2019, despite the Covid-19 crisis. The company targets around €70 million revenues in 2021.
Eurazeo’s small-mid buyout team, Sagard NewGen and I-TRACING’s management share the ambition of building a leading European provider of cybersecurity services. This would entail an acceleration of the company’s growth through further expansion, capitalizing on its high level of expertise as well as the rapid growth of its market and underlying demand. The new chapter is also aiming at pursuing an active buy-and-build strategy, with several targets already identified, as well as supporting I-TRACING’ clients internationally.

Pierre Meignen, Member of Eurazeo PME’s Executive Board, said:
“We are delighted to be involved in I-TRACING’s project. Eurazeo ambitions to provide long-term support to Théodore-Michel Vrangos and Laurent Charvériat in their growth strategy and contribute to the emergence of a European leading independent provider of cybersecurity services. Further than its financial support, Eurazeo would bring the expertise and support of its experienced teams located in 10 countries around the world and its international business network. We can’t wait to actively back the group in a new active phase of its development.”

Théodore-Michel Vrangos and Laurent Charvériat, I-TRACING’s two Founding Partners, underlined:
“We are very pleased to enter I-TRACING’s new phase of development alongside Eurazeo and Sagard, to write a new chapter in our journey as an independent company, 15 years after it was founded. Since 2017, we have successfully passed critical steps with the help of Keensight Capital’s teams: we have tripled our revenue in a four years’ time, structured our offering and our organization, doubled our workforce, accelerated our international growth and made our first add-on. We very grateful for their valuable support. From now on, with the assistance of Eurazeo and Sagard, we will accelerate our growth both in France and internationally in Europe, Asia and North America, accompanying our major French and European clients in all of their cybersecurity needs. We will ensure to maintain our values and mindset, the quality and expertise of our services, commitment to our clients in a thrilling environment for our staff.”

Bérangère Barbe, Agnès Huyghues-Despointes, Guillaume Lefebvre, Partners at Sagard NewGen, said:
“We would be very happy to accompany Théodore-Michel Vrangos and Laurent Charvériat’s outstanding team, alongside Eurazeo, in this new phase of development. I-TRACING has an impressive track record of growth over the last 15 years, offering a broad array of customizable cybersecurity services praised by its clients. This new step will be an opportunity for I-TRACING to leverage Sagard’s relational and commercial network in Europe and North America to pursue a dynamic organic growth and add-ons aimed at strengthening its positioning and technological expertise.”

Philippe Crochet, Managing Partner at Keensight Capital, specifies:
“I-TRACING is a perfect example of the companies we like at Keensight: it provides essential services in a fast-growing market and is an undisputed leader in its industry thanks to a talented and visionary management team. We have actively supported the group in the recent years, particularly outside France with the opening of a new office in Montreal, and in external growth with the strategic acquisition of Idento in 2019, a major player of identity and access management services. At Keensight, we focus on successful companies before, during and after our investment. I-TRACING perfectly fits that description and we are proud of what we have achieved together.”

• Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in assets under management, including €15 billion from third parties, invested in 450 companies. With its considerable private equity, private debt, real estate and infrastructure expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and offering in-depth sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
• Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
• Eurazeo is listed on Euronext Paris.
• ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

• I-TRACING was founded in 2005 in Paris by Laurent Charvériat and Théodore-Michel Vrangos, who were soon joined by Michel Vujicic and then Laurent Besset. It is France’s leading independent pure-play provider of cybersecurity services, covering all requirements in this field: cyberdefence (CyberSOC, I-CERT, Vulnerability Management Center, offensive audit, 24/7 “follow-the-sun” CyberSOC etc.), consultancy and solution engineering/integration, support and managed services. Idento, which joined the group in 2019, provides consultancy and engineering services in the field of Identity and Access Management (IAM).
• The I-TRACING group comprises the I-TRACING companies based in Puteaux, London, Hong Kong and Montreal, along with IDENTO I-TRACING Group, which has locations in Asnières and Nantes.
• The company generated consolidated revenue of €50 million in 2020, up around 40% compared with 2019, and its current workforce consists of 285 engineers. Its client base consists of more than 230 companies across all business sectors, including 30 CAC 40 companies.
• PRESS CONTACTS: Véronique Loquet ( – +33 (0)6 68 42 79 68)

• Sagard NewGen aims to support the development of leaders in the healthcare and technology sectors. The fund was established to make majority and minority equity investments, financing the growth strategy of profitable European companies that share its commitment to innovation and sustainability (revenues of up to €150 million).
• Sponsored by Sagard Holdings and supported by Sienna Capital, Sagard NewGen extends the platform’s European base alongside Sagard MidCap. Sagard NewGen provides management teams with bespoke support and a high value-added ecosystem that has truly international reach through its presence in Europe, North America and Asia.
• Sagard has offices in Paris, Montreal, Toronto, New York, San Francisco and Singapore.
• PRESS CONTACTS: Stéphanie Lacan Tabouis, Publicis Consultants ( – +33 (0)6 03 84 05 03)

• Keensight Capital, one of the leading European Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. For 20 years, Keensight Capital’s seasoned professionals have leveraged their knowledge of investment and growth industries to invest for the long term in profitable companies with high growth potential and revenues in the range of €10 million to €300 million.
• Drawing on its expertise in the Tech and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and achieve their strategic vision.
• PRESS CONTACTS: Anne de Bonnefon – – +33 (0)1 83 79 87 37
• Citigate Dewe Rogerson: Yoann Besse / Estelle Bleuze – – +33 (0)7 63 73 05 67

Virginie Christnacht
+33 (0)1 44 15 76 44
Pierre Bernardin
+33 (0)1 44 15 16 76
David Sturken
MAITLAND/AMO (0)7990 595 913

Categories: News


Acronis, the global leader in cyber protection, receives more than $250M investment at a $2.5B valuation

CVC Capital Partners

Funding to accelerate growth, expand its portfolio of cyber protection products, and enable service providers to serve their clients better

Acronis, the global leader in cyber protection, is pleased to announce that it has received more than $250 million funding round from CVC Capital Partners VII and other investors. Acronis will use the funds to further accelerate growth by expanding its unique portfolio of natively integrated cyber protection products. A significant portion of the investment will also be used to further enhance Acronis’ go-to-market initiatives by expanding its broad partner network – most notably managed service providers (MSPs) – to help them better serve the cyber protection needs of their clients. The investment values the company at more than $2.5 billion.

“Acronis’ talented management and R&D teams have invested significant resources developing an innovative cloud-native ‘MSP in a box’ solution, with integrated backup, disaster recovery, cybersecurity, remote management, and workflow tools,” said Leif Lindbäck, Senior Managing Director of CVC Capital Partners. “Acronis provides mission-critical solutions to more than 10,000 MSPs and half a million small and medium businesses. CVC has a strong track record in cybersecurity and partnering up with successful entrepreneurs, and we are looking forward to teaming up with Serguei Beloussov and the Acronis team to accelerate the company’s growth.”

Acronis Cyber Protect is the first unified cybersecurity and data protection solution that is natively integrated, so service providers can operate these critical functions through a single pane of glass, delivering comprehensive cyber protection at a lower cost.

“With this additional funding, we will accelerate the development of our product portfolio and invest more in our partners’ success,” said Serguei “SB” Beloussov, founder and CEO of Acronis. “Our goal is to develop market-leading technology and help our partners grow their profits, while providing the best protection for their clients.”

Acronis will continue to invest in staff resources, expanding its global sales, partner account management and partner success teams, and hiring new technical talent for its research and development centers in Bulgaria, Israel, and Singapore, as well as Switzerland and the United States.

Focus on partners

Focusing on its growing partner network is critical to the company’s strategy for rapid growth. In February, the company launched the #CyberFit Partner Program to support the development of cloud-focused resellers and service providers. In March, Acronis made available a new version of Acronis Cyber Protect Cloud – enabling partners to deliver comprehensive cyber protection for all workloads for little to no upfront cost. In April, Acronis introduced a new partner portal, providing easy access to content, tools, and training for partners. With the new funding, Acronis will expand the support for cloud partners – providing them with additional sales and marketing resources, faster and localized technical support, dedicated partner success managers, and local data centers in 111 locations worldwide.

Phil Goodwin, Research Director, Cloud Data Management for Protection for IDC, notes that the investment from CVC will add to the momentum behind cyber protection. “Acronis has been at the forefront of the cyber protection movement, establishing itself as a pioneer in solutions that unify advanced cybersecurity with innovative data protection. By continuing to expand their technical capabilities and partner network, the value they bring to the market will only increase.”

Service providers who are interested in learning more about how they can benefit from Acronis’ partner-focused approach are encouraged to visit

Categories: News


Funds advised by Apax to acquire Herjavec Group


11 February 2021

London, UK February 11, 2021– Funds advised by Apax Partners (the “Apax Funds”) today announced the signing of a definitive agreement to acquire a majority stake of Herjavec Group (HG), an award-winning global Managed Security Services Provider (MSSP) and cyber operations leader. Founder & CEO, Robert Herjavec, will remain as a significant stakeholder and the firm’s Chief Executive Officer (CEO). The financial terms of the transaction (which is subject to applicable regulatory approvals) were not disclosed.

Founded in 2003, Herjavec Group has been recognised as one of the world’s most innovative cybersecurity companies with the sole mission of protecting enterprises globally from evolving cyber threats. Earning accolades from industry analysts including Gartner, Forrester, IDC and MSSP Alert, Herjavec Group has developed a reputation globally for attracting top security talent, and continuously advancing its cyber services which include Cybersecurity Advisory Services, Architecture & Implementation of best of breed technologies, Identity & Access Management, 24/7 Managed Security Services, Threat Management and Incident Response.

The Apax Funds, in partnership with HG’s management team, will look to build on the company’s impressive growth rate by accelerating international expansion efforts, augmenting HG’s talented team with additional threat & identity resources, and further advancing the “HG Identity” and “HG SOAR” proprietary platforms. The Apax Tech team have a deep understanding of the cyber security market through the Apax Funds’ prior investments in Sophos, a world-leader in the space and Coalfire, a cybersecurity advisory business which was acquired by the Apax Funds in 2019.

Robert Herjavec, Founder & CEO of Herjavec Group, said: “I couldn’t be more thrilled to welcome the Apax Partners team to Herjavec Group. Over the past seventeen years, HG has remained steadfast in our mission to make enterprises around the world more secure. We have succeeded in that effort by developing an industry-leading 24/7 Managed Security Services practice, by advancing our proprietary IP, by diversifying our offerings to include Advisory, Managed Detection & Response, Identity and Incident Response services, and by hiring what I fundamentally believe is the very best team in the world.  This acquisition and the growth funding that results is a testament to our entire team, and to our loyal customer base who has entrusted us with their mission critical assets. I am excited for this next phase in our growth trajectory as we continue to earn their trust by expanding our localized support models, deepening our Managed Security Services offerings and furthering our platform development to drive incremental automation, efficiency and security ROI.”

Rohan Haldea, Partner at Apax Partners, said: “Under Robert’s leadership, HG has grown into an impressive business, providing critical cybersecurity solutions with a special focus on customer service. In an increasingly complex cybersecurity and IT market, where we are seeing ever more sophisticated cyber-crime, HG is a trusted partner that relieves the burden from internal enterprise security teams. We are excited to partner with Robert and team as we look to drive the business forward, investing in continued product innovation and growth acceleration while maintaining the company’s number one priority:  customer centricity.”

Dentons US LLP is serving as legal counsel to Herjavec Group and Kirkland & Ellis LLP is serving as legal counsel to Apax. Momentum Cyber is serving as financial advisor to Herjavec Group in connection with the transaction.  UBS Investment Bank and Stifel are serving as financial advisors to Apax.

About Herjavec Group

Robert Herjavec founded Herjavec Group in 2003 to provide cybersecurity products and services to enterprise organizations. HG has been recognized as one of the world’s most innovative cybersecurity operations leaders, and excels in complex, multi-technology environments. Herjavec Group’s service expertise includes Advisory Services, Technology Architecture & Implementation, Identity Services, Managed Security Services, Threat Management, and Incident Response. Herjavec Group has offices and Security Operations Centers across the United States, United Kingdom, Canada and India. For more information, visit or contact a security specialist at:

About Apax Partners LLP 

Apax Partners LLP (“Apax Partners”) is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax Partners, please visit

Apax Partners is authorised and regulated by the Financial Conduct Authority in the UK.

Media Contacts:  

For Herjavec Group
Erin McLean/ +1-647-535-3126/
Kristin Glover/ +1- 416-844-9591/

For Apax Partners
Katarina Sallerfors / +44 20 7666 6526 /
Luke Charalambous / +44 20 7872 6494 /
Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 |

Categories: News


EQT Private Equity invests in CYE, an Israel-based global cybersecurity leader

  • EQT Private Equity makes a USD ~100 million growth investment in CYE, an Israel-based leader in cybersecurity and cyber optimization solutions
  • CYE helps companies reclaim control of their cybersecurity by mimicking real-world attacks on their digital infrastructure, developing optimized risk prioritization and mitigation plans – making today’s societies and digital environments a safer place
  • EQT will leverage its global network and expertise in scaling software and cybersecurity companies to accelerate CYE’s go-to market and product investments, geographical expansion and assist in consolidating the fragmented cybersecurity ecosystem

EQT is pleased to announce that EQT Private Equity, via its EQT Mid Market Europe fund, has agreed to make a ~USD 100 million growth investment in CYESEC (”CYE” or “the Company”). CYE’s founder and CEO Reuven Aronashvili will retain a significant share in the Company and will continue to lead the Company’s growth journey together with his management team building on its unique track record of growth and innovation. The investment, which marks EQT Private Equity’s first investment in Israel, will support CYE’s growth plans and help accelerate its go-to-market and product investments.

Headquartered in Tel Aviv, Israel and with offices in Europe and the US, CYE serves as trusted advisor to medium-sized and Fortune 500 companies around the globe, as well as to both EQT and numerous EQT portfolio companies. Since its foundation in 2012, CYE offers an automated and continuous approach to cyber assessments, geared towards an optimized mitigation plan. CYE supports its clients in building a more robust cybersecurity posture with cutting-edge AI and machine learning technology, coupled with professional services from world-leading cybersecurity experts – a combination which is unique in the market.

The world of cybersecurity threats is changing rapidly with attacks growing in complexity, sophistication and frequency. This trend has accelerated since the outbreak of the COVID-19 pandemic as more people are working from home which has increased the number of potential attack vectors. The resulting surge in security breaches led to a substantial increase in financial and reputational damages caused.

Today’s cybersecurity environment is defined by highly skilled hackers who are able to circumvent the most sophisticated systems, making continuous penetration testing a prerequisite for a robust cybersecurity risk posture. As digital infrastructure continues its transition to the cloud and gains complexity, the importance of penetration testing will only increase going forward, placing CYE in an excellent position to capture significant market growth.

CYE is a highly purpose-driven organization with a mission to make today’s societies and digital environments a safer place. EQT aims to reinforce CYE’s societal contribution by helping to grow its global customer base, accelerate go-to-market investments, invest in product extensions across critical cybersecurity verticals, and drive consolidation of the fragmented cybersecurity space. Today, both EQT and numerous portfolio companies, as well as other blue-chip customers, rely on CYE’s products.

Florian Funk, Partner at EQT Partners, said: “The backing of CYE marks EQT’s first deal in Israel, which is a highly attractive market for technology investments, and a country in which EQT intends to increase its activity going forward. We have followed CYE’s development closely over the last years and we are truly impressed with the company Reuven and his team have built to date. Their approach of pairing AI-based technology, services and world-class cyber expertise is unique in the marketplace and well-positioned for continued accelerated growth. We are proud to support CYE with both capital and competence as this investment aligns perfectly with EQT’s thematic investment focus and ambition to back high growth companies by partnering with world class management teams. We are excited to embark on this journey of building a global cybersecurity champion jointly”.

Reuven Aronashvili, CEO of CYE, said: “As hackers increasingly deliver devastating attacks, causing millions of dollars in lost revenue and productivity, CEOs of companies around the world have come to understand that accurately assessing cyber risk begins with them. We are well past the point where companies can limit cyber threats to one department. Today’s attacks can hit the core of any business, essentially crippling the company. At CYE, we are laser-focused on building a company that fundamentally changes the way companies and organizations approach cybersecurity, enabling them to accurately assess the most urgent threats to their business. As we continue to build on this foundation, we are thrilled to welcome EQT as our new partner and are very excited to kickstart CYE’s next phase of expansion and innovation and look forward to working together to make today’s organizations safer”.

The transaction is subject to customary conditions and approvals and is expected to close in February 2021.

Florian Funk, Partner at EQT Partners and Investment Advisor to EQT Private Equity, +49 89 2554 9908
EQT Press Office,, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About CYE
CYE brings a fact-based approach to organizational cyber defense, managing real business risks and optimizing the cybersecurity investment. CYE serves as a trusted advisor to medium-sized and Fortune 500 companies in multiple industries around the world.

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Categories: News


Leading SASE Cloud Security Provider iboss Raises $145 Million to Support Company’s Rapid Growth in $25B Expanding Market

Franciso Partners

BOSTON — iboss, the leader in cloud delivered network security, announces it has raised $145 million in new funding. The financing will be used to support the company’s rapid growth as organizations increasingly recognize iboss as the leading provider of cutting-edge network security through the cloud.

The new funding comes as the COVID-19 pandemic has accelerated the ongoing shift to cloud-based cybersecurity providers. As organizations of all sizes continue to rely more on distributed and dispersed workforces, they need cybersecurity solutions that follow the user — regardless of where they are located or what device they are using — with the same security procedures and protection that they would have in the office. The unique, cloud-native iboss platform constantly defends organizations from cyberattacks by screening and securing all internet traffic in the cloud, regardless of device or location.

“COVID-19 has exposed massive vulnerabilities with outdated, hardware-based cybersecurity solutions and accelerated the timeline of moving away from the old method of securing physical office perimeters,” said iboss CEO Paul Martini. “Implementing modern architecture that provides network security in the cloud is the best way to ensure safety and productivity, even as remote workers rely more and more on fast connections for things like video meetings and online productivity apps.”

iboss seamlessly enables a consolidation of networking and cutting-edge security into a Secure Access Service Edge (SASE) model that operates and provides cybersecurity protection in the cloud. As dispersed workforces increasingly connect to cloud applications such as Microsoft Office 365, Zoom and others, iboss provides infinite scalability while ensuring fast, secure and compliant connections. The iboss platform directly connects users to offices as well as cloud applications, eliminating the need to route internet traffic through centralized, on-premise appliances.

By delivering network security as a service via the cloud, iboss eliminates the need for expensive, hardware-based security and legacy infrastructure, which improves productivity, end-user experience and business outcomes for organizations leveraging cloud applications. The company’s proprietary architecture is built for the cloud from the ground up, allowing organizations to migrate security features and policies — such as web gateway proxies, network firewalls and Zero Trust Network Access — directly to the cloud.

“iboss has created the largest, most modern and comprehensive SASE security platform on the market and is the only platform that can fully transition organizations from on-prem security appliances to SaaS security delivered in the cloud,” said Dave DeWalt, Founder of NightDragon and Co-Chairman of iboss. “What makes this stronger is that iboss is an open security platform that allows organizations to apply the security engines and log analytics platforms of their choosing compared to existing closed SASE solutions that lack this flexibility and restrict better security due to lack of collaboration with top cybersecurity intelligence vendors.”

“We are thrilled to partner with iboss and participate in this growth financing,” said Scott Eisenberg, Head of Credit at Francisco Partners. “As the traditional enterprise perimeter dissolves, security solutions need to enable safe access to apps and services anytime, anywhere. iboss’ cloud-first solution was designed to address this transformational infrastructure shift.”

An open platform means that by leveraging iboss as the secure connectivity foundation for an organization, it allows flexibility in choice for malware engines, malware feeds, threat intelligence and log analytics solutions by allowing them to easily connect through the iboss SASE service. This results in more collaboration between the leading cybersecurity and technology vendors resulting in better protection and efficacy while giving organizations choice and flexibility as they transition into the cloud era.

Momentum Cyber served as exclusive financial advisor and Goodwin Procter LLP served as legal counsel to iboss for this financing. Francisco Partners was advised by Akin Gump Strauss Hauer & Feld LLP as its legal counsel.

About iboss, Inc. iboss is a cloud security company that provides organizations and their employees fast and secure access to the Internet on any device, from any location, in the cloud. The iboss cloud platform provides network security as a service, delivered in the cloud, as a complete SaaS offering. This eliminates the need for traditional network security appliances, such as firewalls and web gateway proxies, which are ineffective at protecting a cloud-first and mobile world. Leveraging a purpose-built cloud architecture backed by over 190 issued and pending patents and more than 100 points of presence globally, iboss protects more than 4,000 organizations worldwide, including a large number of Fortune 50 companies. To learn more, visit

About NightDragon NightDragon is an investment firm focused on investing in growth and late-stage companies within the cybersecurity, safety, security, and privacy industry. Its flexible model allows it to lead or co-invest alongside leading venture capital and private equity firms in the pursuit of driving growth and increasing shareholder value. NightDragon is unique in providing deep operational expertise in cybersecurity gained by its founders Dave DeWalt and Ken Gonzalez from years serving as senior executives leading technology companies such as Documentum, EMC, Siebel Systems (Oracle), McAfee, Mandiant, Avast, and FireEye.

About Francisco Partners Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit

Categories: News


Francisco Partners to Acquire Forcepoint from Raytheon Technologies

Franciso Partners

Francisco Partners to Acquire Forcepoint from Raytheon Technologies

Under new ownership Forcepoint will accelerate product development and growth

AUSTIN, Texas, WALTHAM, Mass., and SAN FRANCISCO, California — Forcepoint, a leading provider of cybersecurity solutions that protects the critical data and networks of thousands of customers throughout the world, and Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses, announced today that Francisco Partners has signed a definitive agreement to acquire Forcepoint from Raytheon Technologies.

“We have followed Forcepoint for years and have a deep appreciation for its outstanding portfolio of innovative security products,” said Brian Decker, Partner at Francisco Partners. “Security is an increasingly important strategic investment area for enterprises, creating significant opportunities for Forcepoint to continue to build upon its track record of success.”

“Executing divisional carve-outs has been a core focus of Francisco Partners since we founded the firm in 1999,” added Andrew Kowal, Partner at Francisco Partners. “We look forward to working with the Forcepoint management team to help the company realize its full potential as an independent company while delivering enhanced value to the company’s customers, partners, and the end users its products protect.”

Forcepoint offers a leading portfolio of cybersecurity solutions, helping enterprises worldwide monitor and protect networks, endpoints, data, and users. The company’s behavior-based solutions adapt to risk in real-time and are delivered through a cloud-native security platform that protects network users and cloud access, prevents confidential data from leaving the corporate network, and eliminates breaches caused by insiders. Thousands of customers in more than 150 countries trust Forcepoint to safeguard their organizations while driving digital transformation and growth and providing secure access that enables employees to create value.

“We are proud to have built an industry-leading portfolio of security products that protect our customers’ infrastructure, people, and data,” said Matt Moynahan, CEO of Forcepoint. “This transaction represents an exciting opportunity for Forcepoint to continue to innovate and drive growth with Francisco Partners. We believe that this partnership will help us to continue to invest in our products and organization while delivering increased value to our customers.”

Evan Daar, Principal at Francisco Partners, added, “Forcepoint has established a leadership position as a provider of cybersecurity solutions to customers around the world. We look forward to partnering with the Forcepoint team to further invest in the company’s cloud security portfolio.”

Debt financing for this transaction was provided by Credit Suisse. Paul Hastings LLP and Kirkland & Ellis acted as legal advisors to Francisco Partners. Barclays acted as exclusive financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to Raytheon Technologies. The transaction is subject to customary regulatory review.

About Forcepoint

Forcepoint is the global cybersecurity leader for user and data protection. Forcepoint’s behavior-based solutions adapt to risk in real-time and are delivered through a converged security platform that protects network users and cloud access, prevents confidential data from leaving the corporate network, and eliminates breaches caused by insiders. Based in Austin, Texas, Forcepoint creates safe, trusted environments for thousands of enterprise and government customers and their employees in more than 150 countries. For more information on Forcepoint, please visit

About Raytheon Technologies

Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With 195,000 employees* and four industry-leading businesses – Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense – the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
*As of 4/3/20

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit

Media Contacts
Raytheon Technologies: Michele Quintaglie,
Francisco Partners: Whit Clay and Dan Zacchei, and
Forcepoint: Joe Stunkard,

Categories: News


ReliaQuest Raises Over $300 Million in Growth Financing Led by KKR


August 25, 2020

TAMPA, Fla.Aug. 25, 2020 /PRNewswire/ — ReliaQuest, an advanced cybersecurity managed service and intelligence platform for global enterprises, today announced it has raised over $300 million in growth financing in a round led by leading global investment firm KKR, with participation from Ten Eleven Ventures and ReliaQuest founder and CEO Brian Murphy. The investment, which follows $30 million in growth equity from FTV Capital – who partnered with the firm in 2016 – will support ReliaQuest in accelerating the company’s growth initiatives, including international expansion and platform development.

Cybersecurity remains a top concern for enterprises as the complex threat landscape continues to evolve and the global shortage of cyber talent worsens. Many enterprises resort to an increasing number of security technologies, outsourcing to managed security services providers (MSSPs), or a combination of both. As a result, the MSSP market will grow nearly 15% YOY to reach $27.9 billion by the end of 2020, according to IDC. However, companies often fail to realize the value of these options due to poor performance and lack of effectiveness.

To bridge this gap, ReliaQuest developed a fundamentally different approach – providing customers a software platform, called GreyMatter, and a team of highly trained cyber analysts to deliver dramatically improved security effectiveness and efficiency. GreyMatter is the first cloud-native SaaS platform that consolidates, normalizes, and correlates data from customers’ existing cyber technologies, vastly increasing visibility across the enterprise. The platform leverages artificial intelligence and automation, which enable continuous threat detection, threat hunting, and remediation. As a result, customers benefit from a significantly more effective security posture and are able to maximize the value and effectiveness of their existing cybersecurity investments.

“ReliaQuest’s GreyMatter platform is supported by some of the top security talent in the industry, enabling enterprises to increase visibility across cloud and on-premises technologies, allowing them to reduce risk and compromises. The investment from KKR and Ten Eleven is an important step that allows ReliaQuest to continue to scale globally while innovating and accelerating the development of the GreyMatter platform and follows what was a foundational investment from FTV four years ago. The entire ReliaQuest team has worked hard to get where we are, and we are excited about the future as we continue to work alongside our customers to solve one of the largest technical challenges of our time,” said Brian Murphy, founder and CEO of ReliaQuest.

KKR’s investment in ReliaQuest follows several years of breakout growth and innovation in the cybersecurity market. The company’s revenue has grown more than 450% over the past three years on the strength of relationships with some of the world’s most prominent brands. The company plans to add another 100 employees to its ranks worldwide through the course of 2020, building on an industry-leading employee retention rate of 91% as reflected in major awards such as Fortune Best Workplaces in Technology, Deloitte Technology Fast 500, and Entrepreneur Top Company Cultures.

“With its best-in-class technology, ReliaQuest is helping companies protect their digital footprint, which is more important than ever. As a ReliaQuest customer ourselves, we’ve experienced firsthand how seamless and effective their platform is, and are thrilled to have the opportunity to invest behind it,” said Stephen Shanley, Director at KKR.

Patrick Devine, Principal at KKR, added, “We’re excited to be working with the ReliaQuest team as they continue to scale globally and help organizations secure their environments.”

Ten Eleven General Partner Mark Hatfield added, “In these challenging times, enterprises need powerful, resourceful solutions to manage their cybersecurity operations. ReliaQuest has developed a new approach to this challenge with its GreyMatter platform, giving security teams the ‘superpower’ to see more, detect and investigate faster, and make better decisions. We look forward to partnering with ReliaQuest as they offer enterprises a new way of obtaining advanced cybersecurity protection.”

KKR will be making the investment through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space. KKR has established a strong track record of supporting technology-focused growth companies, having invested over $2.7 billion in related investments since 2014. KKR and Ten Eleven Ventures have also supported market-leading cybersecurity companies including Darktrace, KnowBe4, Ping Identity, Cylance, and ForgeRock.

Advisors on the agreement include RBC Capital Markets, Sidley Austin LLP, Kirkland & Ellis LLP, and Latham & Watkins LLP.

About ReliaQuest
ReliaQuest, a global leader in cybersecurity, delivers industry-leading visibility and automation on demand across complex environments with a platform purpose built to protect enterprise environments from security breaches. GreyMatter is the first cloud-native SaaS solution that enables visibility, coordination, and control across the enterprise’s on premise and multi-cloud technologies, unlocking the power of next generation cybersecurity for the modern enterprise. By increasing visibility and threat detection through the platform’s patented universal translator and use of automation and artificial intelligence, GreyMatter saves security teams valuable time and increases effectiveness by enabling automatic and continuous threat detection, threat hunting, and remediation. ReliaQuest is a private company headquartered in Tampa, Fla., with five global locations. In 2016, it received $30 million in growth equity from FTV Capital. For more information, visit

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at and on Twitter @KKR_Co.

About Ten Eleven Ventures
Ten Eleven Ventures is the original venture capital firm focused solely on investing in digital security. The firm invests globally and at all stages, from seed to growth (the latter via its Joint Investment Alliance with KKR). Since its founding in 2015, Ten Eleven Ventures has raised nearly $500 million US Dollars and invested in 25 leading cybersecurity companies including Twistlock, Verodin, Cylance, KnowBe4, Darktrace, and Ping Identity. For more information, visit: and on Twitter @1011vc.

Media Contacts:

Francesca DeAnda
Mission North for ReliaQuest

Kristi Huller, Cara Major or Miles Radcliffe-Trenner

Ten Eleven Ventures
Megan Dubofsky

SOURCE ReliaQuest

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