ThreatConnect receives new strategic growth investment led by Providence Strategic Growth
ThreatConnect, 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.
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.”