Blackpoint Cyber raises $190 million to fund further development of its security technology
Blackpoint Cyber has received a $190 million growth investment led by Bain Capital Tech Opportunities, with participation from Accel.
Bain Capital Tech Opportunities and Accel join existing investors including Adelphi Capital Partners, Telecom Ventures, Pelican Ventures and WP Global Partners.
The investment will be used to fund further development of Blackpoint’s security technology and enable its MSP partners to combat a constantly changing threat landscape.
Founded in 2014 by CEO Jon Murchison, a former National Security Agency computer operations expert who spent more than a decade executing high-priority national security missions, Blackpoint leverages real-world cyber experience and deep knowledge of cyber defense tactics to help MSPs safeguard their customers from cyberthreats.
Blackpoint’s Managed Detection and Response (MDR) technology rapidly detects and isolates threats at the earliest sign of a breach. Many security services place the burden of response and action on their customers, whereas Blackpoint’s 24/7 Security Operations Center (SOC) investigates suspicious activity and takes action to neutralize threats in real-time on behalf of its MSP partners. This eliminates alert fatigue and time spent on false positives.
“The MSP market is growing fast, and we are matching that growth by scaling and innovating new cybersecurity solutions,” said Jon Murchison, CEO of Blackpoint Cyber. “Cyber-attacks are becoming more sophisticated and advanced, forcing MSPs to rapidly adapt to protect their customers and infrastructure. Bain Capital Tech Opportunities and Accel bring deep experience in cybersecurity, a sophisticated understanding of the threat landscape, and the resources needed to propel our next phase of growth, and we are thrilled to partner with them and continue providing our MSP partners with an elite and ever-innovative cybersecurity ecosystem.”
Blackpoint is committed to adding additional products to its platform and simplifying the security stack for its MSP partners as they play an ever-increasing role in cybersecurity. Blackpoint recently introduced its Managed Application Control solution to help MSPs ensure that only authorized applications are running on devices and reduce the risk of unauthorized activity or malware infiltration.
Blackpoint also launched the Blackpoint University learning platform in 2023 to provide MSPs with access to sales and technical cybersecurity training and lessons from leaders in the military, intelligence, and business communities.
“Blackpoint sets itself apart as the security service of choice for MSPs with its next-gen MDR technology and integrations to detect and actively respond to threats,” said Dewey Awad, a Partner at Bain Capital Tech Opportunities. “We are thrilled to join Jon and the management team to help accelerate the growth of the business and drive new product development that delivers a unique value proposition to MSPs and their customers.”
Bain Capital has deep experience across the cybersecurity sector, having invested in and added value to a wide range of early-stage to mature software companies such as InAuth (acquired by American Express), Rapid7, Check Point, Barracuda Networks, SolarWinds, Evident.io (acquired by Palo Alto Networks), Blue Coat (acquired by NortonLifeLock), ExtraHop, and BioCatch.
William Blair acted as exclusive financial advisor to Bain Capital Tech Opportunities.