Cybersecurity firm Netwrix has today announced a strategic investment from Centerbridge Partners, a prominent private equity firm with a global footprint.
The exact amount raised remains undisclosed, but this significant investment includes participation from existing majority shareholder TA Associates, a leading global private equity firm. Also maintaining their minority stakes are members of Netwrix’s senior management team and Updata Partners.
Netwrix, known for its easy-to-use data security solutions, empowers more than 13,000 organizations worldwide. The company’s wide-ranging solutions include data access governance (DAG), identity and access management (IAM), privileged access management (PAM), Active Directory security and ransomware protection. These solutions aim to help organizations identify and protect sensitive data, reducing the likelihood of security breaches, and enabling swift detection, response, and recovery from threats.
The company intends to use the new funding to expand its market leadership in data security solutions. With the financial and technological backing of Centerbridge and TA, Netwrix aims to address its customers’ critical needs more effectively.
Additional information in the announcement highlights Netwrix’s growth. Since TA’s initial investment in 2020, the company has achieved a fivefold increase in annual recurring revenue. This growth has been driven by a transition to a fully subscription business model, investment in new offerings, and strategic acquisitions.
Netwrix CEO Steve Dickson said, “Netwrix solutions help organizations of any size strengthen their security posture across all the primary attack surfaces: data, identity and infrastructure, as well as ensure regulatory compliance. With Centerbridge and TA’s backing and technology acumen, we’re well positioned to address our customers’ mission-critical needs.”
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
