Drawbridge, a market main supplier of cybersecurity software program and options to the monetary companies {industry}, in the present day introduced a strategic progress funding from Francisco Companions, a number one international funding agency that focuses on partnering with know-how companies.
Present investor Lengthy Ridge and Drawbridge’s management group will stay vital fairness holders within the firm.
Based in 2018, Drawbridge has created an industry-leading, all-in-one platform which permits monetary companies companies to quickly deploy, handle, and repeatedly optimize a holistic cybersecurity program. The corporate’s proprietary know-how platform helps companies navigate the evolving regulatory and risk panorama, handle governance, danger and compliance (GRC) necessities, and fight subtle cyber threats. Drawbridge has recorded fast and constant international progress since its inception and is now relied on by over 900 funds within the different funding {industry} to construct and preserve their vital cybersecurity packages.
The brand new funding from Francisco Companions will assist drive Drawbridge’s continued growth and product growth to greatest serve clients throughout non-public fairness, hedge fund, enterprise capital, and different industries.
Jason Elmer, Drawbridge Founder and CEO, mentioned: “We’re thrilled to announce this new funding from Francisco Companions which can permit us to speed up our know-how innovation and repeatedly concentrate on buyer success. Drawbridge was based to offer monetary companies companies with the state-of-the-art software program and options they should simplify and handle the advanced and evolving cyber danger panorama. The {industry} is dealing with elevated cyber threats and escalating due diligence calls for, and this new funding will allow Drawbridge to offer a good higher degree of assist to our clients.” Scott DePetris, Drawbridge President and COO, added: “We’re excited concerning the new partnership with Francisco Companions and are wanting ahead to additional enhancing our main providing throughout an increasing buyer base.”
Peter Christodoulo, Accomplice at Francisco Companions, mentioned: “Jason and Scott have accomplished an distinctive job constructing Drawbridge’s market-leading platform and have proven a formidable dedication to fixing clients’ vital cybersecurity and compliance wants. We’re very excited to associate with Lengthy Ridge and the Drawbridge group to speed up progress and proceed to drive innovation within the sector.”
Kevin Bhatt, Managing Accomplice at Lengthy Ridge, mentioned: “After we initially invested in Drawbridge final yr, we acknowledged the corporate’s mixture of cybersecurity software program and options was uniquely positioned to assist different funding companies thrive in an evolving risk panorama. The corporate’s super success is a testomony to the group’s sturdy management, and we’re excited to hitch Francisco Companions in supporting the subsequent part of progress.”
The transaction was accomplished on September 1st. Monetary phrases will not be being disclosed.
Raymond James served as monetary advisor and Faegre Drinker Biddle & Reath served as authorized advisor to Drawbridge. Kirkland & Ellis LLP served as authorized advisor to Francisco Companions.