Virginia-based cybersecurity firm SafeGuard Cyber has secured $45m in equity and debt financing to help expand its reach in the digital risk protection market.
The financing round was led by venture capital firm NightDragon and included participation from Cisco Investments and Allegis Cyber.
Established in 2014, SafeGuard Cyber markets an AI-powered SaaS platform, which it claims is a single solution to detect, prevent, and defend against threats across digital channels – an area that has become ever more essential in the era of remote working.
According to SafeGuard, the new funding will support the firm in expanding its business and technology capabilities in order to meet global demand for this rapidly accelerating digital risk protection market.
The SafeGuard Cyber platform allows users to interact securely across any cloud-based application, such as mobile chat, CRM, service clouds and social apps. SafeGuard stated its platform also empowers security and compliance teams through ‘unprecedented’ visibility into such cloud-based applications to secure their use.
SafeGuard noted it saw ‘tremendous’ growth during 2020 as firms moved more aggressively towards their digital channels – notably mobile chat, social media and collaboration – as the pandemic hit. The firm was also able to lock in integrations and partnerships with companies such as WhatsApp, LinkedIn and Slack during the period.
SafeGuard Cyber CEO and co-founder Jim Zuffoletti said, “The needs of the enterprise workplace are changing rapidly, and our solutions represent the future of cybersecurity with risk protection evolving to business-critical digital channels. Information security, compliance and risk professionals, marketing teams, and sales enablement all benefit from leveraging social media, collaboration, and mobile chat communication tools, yet these platforms remain largely vulnerable to security and compliance risks at many organizations.
“Our new backing from the investors at NightDragon, Allegis Cyber, and Cisco Investments gives SafeGuard Cyber the ability to rapidly scale and meet this massive marketplace need by providing businesses a way to grow securely across the digital landscape.”
NightDragon founder and managing director Dave DeWalt added, “SafeGuard Cyber offers a one-of-a-kind solution for any business or individual using cloud-based applications today.
These capabilities are more critical than ever in today’s ‘work from anywhere’ world, where activities have migrated to social, mobile chat, and modern collaboration channels. We look forward to working with the SafeGuard team to enable today’s modern workforce and bring about a new era of worry-free commerce and human connections.”
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