Accellion nets $120m in funding from private equity firm

Accellion, a firewall service which secures third-party communications, has netted $120m in a new financing round led by private equity firm Bregal Sagemount.

The cybersecurity company helps businesses to prevent data breaches and compliance violations from sensitive third-party communications. Clients can access full control of their sensitive content across all third-party communication channels, guaranteeing secure email, file sharing, mobile file sharing, enterprise app and Microsoft office plugins, web forms, file transfers, and workflow automation.

Its technology helps meet compliance standards for HIPAA, GDPR, FedRAMP, Soc 2, FIPS and more. Its services are used by financial services, healthcare, governments, manufacturers and legal firms.

Accellion CEO Jonathan Yaron said, “Protecting data shared with third parties is a major CISO challenge. Today’s IT infrastructure has too many tools, too little governance, and produces zero visibility. With this transaction, Accellion is well positioned to accelerate acquisitions to further consolidate the sprawl of siloed applications under the enterprise content firewall.”

Last year, Bregal Sagemount backed the $70m Series D round of privacy management company TrustArc. The RegTech utilises deep privacy expertise and methods to protect data across all phases of privacy programme management.

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