New funding will accelerate MDR growth as more companies look for help in an increasingly mobile world
MONTREAL & LA JOLLA, Calif.–(BUSINESS WIRE)–GoSecure, an established leader in the rapidly-growing Managed Detection and Response (MDR) market, today announced that it closed $20M USD in Series E funding to accelerate growth across North America. Yaletown Partners, based in Vancouver, Calgary, Toronto and Montreal, lead the investment together with Bank of Montreal and existing investors SAP/NS2 and Razor’s Edge.
“With over 2,000 customers, GoSecure is the most effective and trusted MDR company in North America,” said Neal Creighton, GoSecure CEO. “Some of the most sophisticated customers in Government and finance trust GoSecure. While competitors like CrowdStrike continue to stress their Next-Gen AV as the next cybersecurity evolution, GoSecure is already delivering sophisticated MDR services that are protecting customers of all sizes.”
Demand for Managed Detection and Response is increasing rapidly, with industry analysts projecting upwards of 40% of mid-market organizations will adopt MDR in the next 5 years. GoSecure is at the leading edge of this growth curve and well positioned to take advantage of the growing demand.
“Our MDR customer base has grown 425% over the past two years, and demand is at unprecedented levels, making now the perfect time for GoSecure to secure growth funding,” continued Mr. Creighton. “We have put together an amazing team of seasoned cybersecurity professionals, including Executive Chairman Robert J. McCullen, who have overseen dramatic growth in their careers. Combined with our market leading technology, and amazing brand recognition, we are poised to lead the Canadian MDR market and expand our endpoint coverage across North America.”
“GoSecure is in an amazing place and the chance to help them reach the next level was extremely appealing,” said Shyam Gupta, Partner at Yaletown Partners. “We’ve been following GoSecure since their early days in Montreal and their progression has been staggering. With the recent acquisitions, growth of the leadership team and market leading technology, they have all the elements necessary to become the leading MDR provider, not only in North America but globally.” Eric Bukovinsky, Partner at Yaletown Partners, added “with the rapid changes coming from Digital Transformation, the future of work, and the Intelligent Industry, cybersecurity is a fundamental pillar of digital strategies. GoSecure’s solutions provide the capability and flexibility for both today’s distributed and evolving security perimeter and the dynamic future footprint of digital enterprises.”
Since launching as CounterTack in 2012, GoSecure has developed its unique behavior-based, predictive detection and response platform, acquired several companies and emerged as a leader in the fast-growing Managed Detection and Response market. GoSecure is now 200 employees with country headquarters in Montreal, Quebec and San Diego, California. Growth was already accelerating prior to the COVID-19 pandemic, and now interest has picked up as organizations adapt to an increasingly mobile workforce.
“GoSecure has evolved over the last three years from a differentiated EDR software company into a full suite, full-service cyber security company with a world class management team. We are pleased to further accelerate the company’s already impressive growth trajectory with this transformative round and the success of our joint solution offerings,” said Drew Drake, Vice President, Strategic Investments, SAP NS2.
National Bank Financial Inc. acted as a placement agent in assisting GoSecure secure this financing.
GoSecure is recognized as a leader and innovator in cybersecurity solutions. The company is the first and only to integrate endpoint, network and email threat detection into a single Managed Detection and Response service. The GoSecure detection and response platform delivers predictive multi-vector detection, prevention, and response by applying a unique combination of behavioral analysis, memory forensics, machine learning, and reputational techniques to counter the most advanced threats. Our MDR Services are driven by aggressive SLAs for rapid response and active mitigation services that directly touch the customers’ network and endpoints. Together, these capabilities provide the most effective response to the increased sophistication of continuously evolving malware and malicious insiders that target people, processes and systems. With focus on innovation, quality, integrity and respect, GoSecure has become the trusted provider of cybersecurity products and services to organizations of all sizes, across all industries globally.
About SAP NS2
At SAP NS2®, we support the mission of national security by providing innovative computing, analytics, and cloud solutions, all delivered by U.S. persons on U.S. soil. From custom development to secure cloud, and virtually everything in between, SAP NS2 powers the secure intelligent enterprise. Learn more at www.sapns2.com.
About Yaletown Partners
Yaletown Partners is a leading Canadian investor dedicated to closing the scale-up capital gap and focused on the Intelligent Industry opportunity. We invest in emerging-growth companies that enhance sustainability and productivity for industrial and enterprise customers. Our investments enable the application of data and technologies to digitally transform traditional industries, drive innovation, create operational efficiencies and reduce the impact of climate change. In 2017, Yaletown received the CVCA’s Venture Capital Deal of the Year award for its investment in BitStew, Canada’s largest venture financed exit of 2016. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Toronto and Montreal. For more information, please visit www.yaletown.com.