Growth Strategy Strongly Emphasizes Managed Security Service Provider (MSSP) Channel
ATLANTA – March 17, 2022 – (Newswire.com)
Apptega, a leading platform that helps companies easily create, manage and report on their cybersecurity and compliance programs, today announced a $37 million investment from Mainsail Partners, a private equity firm growth focused on investing in fast-growing software companies. The company plans to use the new capital to help scale its award-winning platform into new markets and channels, including MSSPs.
“Our partnership with Mainsail will not only help us further develop our innovative software, but also create an experienced team and build brand awareness in multiple markets,” said Armistead Whitney, Founder and CEO of Apptega. “We are truly excited to accelerate new features and capabilities that support our mission to make cybersecurity compliance easier for enterprises and MSSPs around the world.”
With increasing cybersecurity threats and compliance pressures, businesses of all sizes are scrambling to create comprehensive cybersecurity and compliance programs that meet industry standards such as SOC 2, PCI, CMMC, ISO, GDPR and many more. Historically, organizations have used Excel spreadsheets and other manual methods to manage these requirements which number in the hundreds. Apptega is a leading platform offering 25+ cybersecurity frameworks, easy-to-follow guidance, collaboration tools, and reports in one simple package.
“We are proud to partner with the team at Apptega to streamline the complexity of cybersecurity and compliance,” said David Farsai, Partner at Mainsail. “We are particularly impressed with Apptega’s ability and success in enabling MSSPs to more effectively implement and manage comprehensive cybersecurity and compliance programs to reduce incidents, streamline evidence collection, and ensure their clients’ compliance, from assessment to audit.”
Momentum Cyber, a leading investment bank for the cybersecurity industry, acted as financial and strategic advisor to Apptega in connection with this transaction.
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Apptega provides a comprehensive, award-winning platform that helps businesses of all sizes easily create, manage, and report their cybersecurity and compliance programs. From assessment to audit, Apptega strives to deliver efficiencies across multiple cybersecurity frameworks, including SOC 2, PCI, HIPAA, GDPR, and CMMC. Apptega is trusted by more than 500 established brands across all industries, including financial services, healthcare, SaaS, aviation, insurance, nonprofits, and managed security service providers (MSSP). Founded in 2017, Apptega is headquartered in Atlanta, Georgia. For more information, visit https://www.apptega.com/.
About Mainsail Partners
Mainsail Partners is a growth capital firm with offices in San Francisco and Austin that invests in fast-growing, seed-stage software companies. The company has raised over $1.3 billion and invested in more than 50 growth companies since 2003. Mainsail favors investments in B2B software companies with compelling business models in growth markets. The company’s approach to driving value creation is rooted in a dedicated operations team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software business operators who leverage real-world experience, well-established best practices, and a true partnership philosophy to support management teams. For more information, visit mainailpartners.com or follow the company on LinkedIn.
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Apptega Announces $37M Growth Investment from Mainsail Partners to Automate Cybersecurity Management and Compliance