Blackpoint Cyber, a prominent technology-centric cybersecurity company that delivers its advanced security suite through managed service providers (MSPs), has announced that it successfully secured a considerable growth investment of $190m.
The funding round was led by Bain Capital Tech Opportunities, joined by Accel, and also saw participation from existing investors such as Adelphi Capital Partners, Telecom Ventures, Pelican Ventures, and WP Global Partners. The raised capital will bolster the further development of Blackpoint’s security technology, enabling its MSP partners to counteract an increasingly volatile threat environment.
Blackpoint Cyber is no ordinary cybersecurity company. Established in 2014 by Jon Murchison, a former National Security Agency computer operations expert, the firm’s mission is to help MSPs protect their clients from burgeoning cyber threats.
Blackpoint’s innovative Managed Detection and Response (MDR) technology promptly detects and isolates threats at the earliest sign of a breach. Unlike many security services that place the onus of response on their customers, Blackpoint’s 24/7 Security Operations Centre investigates suspicious activities and neutralises threats in real time, thereby eradicating alert fatigue and time spent on false positives.
The newly procured funds will be channelled towards scaling and innovating new cybersecurity solutions to match the rapidly growing MSP market. As cyberattacks become increasingly advanced and sophisticated, Blackpoint is dedicated to equipping its MSP partners with an elite and constantly evolving cybersecurity ecosystem.
In line with this commitment, Blackpoint recently introduced its Managed Application Control solution to aid MSPs in ensuring that only authorised applications run on devices, thereby minimising the risk of unauthorised activity or malware infiltration. Further, in 2023, Blackpoint launched its unique learning platform, Blackpoint University, which provides MSPs with access to sales and technical cybersecurity training delivered by leaders in the military, intelligence, and business communities.
Blackpoint Cyber CEO and founder Jon Murchison said, “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.”
Echoing Murchison’s sentiments, Dewey Awad, a Partner at Bain Capital Tech Opportunities, praised Blackpoint’s next-gen MDR technology and proactive response to threats. “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,” said Awad.
Bain Capital has extensive experience across the cybersecurity sector, previously investing in early-stage to mature software companies such as InAuth, Rapid 7, Check Point, Barracuda Networks, SolarWinds, Evident.io, Blue Coat, ExtraHop, and BioCatch.
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