Outpost24 Charts Cybersecurity Market Growth Following Acquisition by Vitruvian Partners
Outpost24, a cybersecurity company focused on threat and vulnerability management, is now part of equity firm Vitruvian Partners via acquisition.
This is technology M&A deal number 633 that MSSP Alert and sister site ChannelE2E have covered so far in 2022. Financial terms of the deal were not disclosed.
This deal follows Outpost24’s own acquisitions recently, including Specops Software, a leading provider of password management and user authentication solutions.
Doing Business in More Than 65 Countries
In its July 13 announcement, Outpost24 noted that Vitruvian’s majority ownership will induce “investment in people, processes, and industry-leading technology to further strengthen its leadership position in a large and growing market.” Outpost24 claims 2,500 customers in more than 65 countries.
The company said that its “full stack cyber risk management SaaS platform empowers businesses to address the rapidly rising need to improve their cybersecurity posture.” Furthermore, its “comprehensive set of solutions” scan both internal assets and external data sources to discover, assess and prioritize vulnerabilities and threats across potential attack surfaces.
Outpost24 notes that its cyber risk management solutions in vulnerability management, application security, threat intelligence and access management are delivered in a “single platform that is easy-to-use and deploy.”
Outpost24 Poised for Growth
With offices across Europe and the US, Outpost24 plans more international expansion during the coming years. Outpost24 CEO Karl Thedéen describes the advantage behind the acquisition:
“Our vision has always been to make businesses resilient to cybersecurity risk. Through our partnership with Vitruvian we will have increased opportunities to empower security and business leaders to identify cyber threats and secure their organizations with speed and confidence. The new investment will bolster our ambition to become a global cybersecurity champion by accelerating our product roadmap and increasing our sales and marketing efforts.”
Vitruvian notes that it has backed more 70 companies and has approximately €10 billion (US$10.71 billion) in assets — among the largest pools of capital in Europe supporting innovative and higher growth companies. Its other recent cybersecurity investments include Bitdefender, CFC and Darktrace.
Jussi Wuoristo, partner at Vitruvian Partners, explains the fit with Outpost24:
“As the frequency and cost of cyberattacks is quickly increasing, Outpost24 has developed an unrivalled full stack cyber risk management platform that creates tremendous value for businesses around the world. Vitruvian has backed several exceptional global leaders in cybersecurity and we are excited to partner with the team at Outpost24 to help accelerate the company’s international expansion and product innovation.”
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