FairWarning collects $60m to catch people stealing data

FairWarning, a Florida-based privacy and security company, has landed $60m from Mainsail Partners.

As part of the funding, Mainsail partner Michael Anderson, operating partner Taylor McKinley, and David Farsai, vice president at Mainsail, will join FairWarning’s board of directors.

It will use the new investment to scale and accelerate its data protection and governance solutions in health, wealth, and banking according to CEO Kurt Long.

FairWarning provides software to protect the health, wealth, and personal information for healthcare, financial services and other businesses with the need to protect sensitive data and support compliance requirements.

The proliferation of cyber-attacks, high-profile breaches and regulatory audits have created a critical need for businesses to monitor how insiders access sensitive business information according to FairWarning. With these challenges in mind, the company’s solutions aim to protect organisations of all sizes against data theft and misuse through real-time and continuous user activity monitoring.

It claims to improve compliance effectiveness with complex federal and state privacy laws such as HIPAA, FFIEC, PCI, FINRA, SOX, FISMA and the EU General Data Protection Regulation.

“We speak with companies every day that are dealing with the challenges of protecting regulated private information, so we appreciate the importance of the problem FairWarning is aiming to solve,” said Michael Anderson, partner at Mainsail Partners.

“FairWarning is uniquely positioned as the only solution that handles the entire lifecycle of privacy, from insider threats protection, to investigation, compliance and reporting. We are impressed with the business that Kurt and the team have built and are excited to partner with them to deliver even greater value to their growing customer base.”

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