Deepwatch, the leader in advanced managed detection and response (“MDR”) security, today announced a total of $180 million in equity investments and strategic financing from Springcoast Capital Partners, Splunk Ventures and Vista Credit Partners, a subsidiary of Vista Equity Partners and strategic credit and financing partner focused on the enterprise software, data and technology markets. The combined capital will enable Deepwatch to accelerate platform innovation and product development while expanding its partner ecosystem to meet the growing demand for managed security services.
Deepwatch MDR protects businesses from an ever-increasing volume of cyber threats. The company delivers an always-on cybersecurity platform backed by experts who work as an extension of customer teams. With many leading global brands as customers, Deepwatch is uniquely positioned to deliver advanced, cloud-based cybersecurity solutions that serve the stringent needs of the most demanding enterprise environments.
Deepwatch experienced 100 percent year-over-year sales growth in 2022, with more than two-thirds of customers expanding their service. The company introduced new offerings and advancements to the Deepwatch security operations platform to speed the detection and containment of threats across the enterprise. This included the release of its Threat Analytics App 2.0 bolstered by its innovative Threat Probability Value ML backed software and managed extended detection and response (MXDR) for endpoint and identity. The company was also named to the 2022 Forbes list of America’s Best Startup Employers and received A Great Place to Work certification. The new investment provides the capital and resources for Deepwatch to further advance its platform and meet record customer demand while further establishing its leadership position in managed security.
The new investors join ABS Capital and Goldman Sachs who have backed Deepwatch’s rapid growth over the last four years.
The company also announced the appointment of Mel Wesley as Chief Financial Officer (CFO). Wesley is a seasoned finance executive with over 25 years of experience in financial planning, analysis, and operational finance, with a proven track record of driving growth and building high-performance finance teams. For the past 18 years, he has served as CFO for publicly traded and private technology companies. As Deepwatch’s CFO, Wesley will support the Company during hyper-growth while overseeing finance, legal and corporate development.
In the last ten years as a CFO, Wesley supported three companies through financial transactions and exits totaling nearly $3 billion. As CFO, he has managed investor relations, directed IPO-readiness efforts and raised significant equity and debt.
Wesley remains on the Board of Directors of Cofense, Inc. (formerly PhishMe, Inc.), where he previously served as the CFO before joining Deepwatch. During his tenure as CFO, he supported the Company’s growth initiatives and IPO-readiness efforts, and steered the Company through a significant sale for $400 million.
Before that, Wesley held multiple CFO positions. During his tenure at comScore, Inc. (NASDAQ: SCOR), the Company purchased and merged with another public company. During his tenure at Mandiant Corporation, the Company was sold to FireEye, Inc. (NASDAQ: FEYE) for over $1 billion. Wesley remained at FireEye as CFO of Global Services and Cloud Solutions, supporting integration efforts. During his tenure at OPNET Technologies (NASDAQ: OPNT), the Company’s revenue grew from $50 million to $175 million before the company sold for over $1 billion.
Like this:
Like Loading...
Related
This entry was posted on February 22, 2023 at 10:01 am and is filed under Commentary with tags Deepwatch. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
Deepwatch Announces $180 Million in Investments And Appointment Of New CFO
Deepwatch, the leader in advanced managed detection and response (“MDR”) security, today announced a total of $180 million in equity investments and strategic financing from Springcoast Capital Partners, Splunk Ventures and Vista Credit Partners, a subsidiary of Vista Equity Partners and strategic credit and financing partner focused on the enterprise software, data and technology markets. The combined capital will enable Deepwatch to accelerate platform innovation and product development while expanding its partner ecosystem to meet the growing demand for managed security services.
Deepwatch MDR protects businesses from an ever-increasing volume of cyber threats. The company delivers an always-on cybersecurity platform backed by experts who work as an extension of customer teams. With many leading global brands as customers, Deepwatch is uniquely positioned to deliver advanced, cloud-based cybersecurity solutions that serve the stringent needs of the most demanding enterprise environments.
Deepwatch experienced 100 percent year-over-year sales growth in 2022, with more than two-thirds of customers expanding their service. The company introduced new offerings and advancements to the Deepwatch security operations platform to speed the detection and containment of threats across the enterprise. This included the release of its Threat Analytics App 2.0 bolstered by its innovative Threat Probability Value ML backed software and managed extended detection and response (MXDR) for endpoint and identity. The company was also named to the 2022 Forbes list of America’s Best Startup Employers and received A Great Place to Work certification. The new investment provides the capital and resources for Deepwatch to further advance its platform and meet record customer demand while further establishing its leadership position in managed security.
The new investors join ABS Capital and Goldman Sachs who have backed Deepwatch’s rapid growth over the last four years.
The company also announced the appointment of Mel Wesley as Chief Financial Officer (CFO). Wesley is a seasoned finance executive with over 25 years of experience in financial planning, analysis, and operational finance, with a proven track record of driving growth and building high-performance finance teams. For the past 18 years, he has served as CFO for publicly traded and private technology companies. As Deepwatch’s CFO, Wesley will support the Company during hyper-growth while overseeing finance, legal and corporate development.
In the last ten years as a CFO, Wesley supported three companies through financial transactions and exits totaling nearly $3 billion. As CFO, he has managed investor relations, directed IPO-readiness efforts and raised significant equity and debt.
Wesley remains on the Board of Directors of Cofense, Inc. (formerly PhishMe, Inc.), where he previously served as the CFO before joining Deepwatch. During his tenure as CFO, he supported the Company’s growth initiatives and IPO-readiness efforts, and steered the Company through a significant sale for $400 million.
Before that, Wesley held multiple CFO positions. During his tenure at comScore, Inc. (NASDAQ: SCOR), the Company purchased and merged with another public company. During his tenure at Mandiant Corporation, the Company was sold to FireEye, Inc. (NASDAQ: FEYE) for over $1 billion. Wesley remained at FireEye as CFO of Global Services and Cloud Solutions, supporting integration efforts. During his tenure at OPNET Technologies (NASDAQ: OPNT), the Company’s revenue grew from $50 million to $175 million before the company sold for over $1 billion.
Share this:
Like this:
Related
This entry was posted on February 22, 2023 at 10:01 am and is filed under Commentary with tags Deepwatch. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.