MONTRÉAL, July 14, 2020 /CNW Telbec/ - Yaletown Partners is pleased to announce that it has led a US$ 20 million growth financing in GoSecure, an established leader in the rapidly-growing Managed Detection and Response (MDR) market. Other investors in the Series E funding include Bank of Montreal and existing GoSecure investors SAP/NS2 and Razor's Edge. The new funding will accelerate MDR growth in Canada and the United States, as more companies look for help in an increasingly mobile world.
GoSecure is the most effective and trusted Managed Detection and Response company in North America and demand for MDR is increasing rapidly. Industry analysts project that 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 is well positioned to take advantage of this growing demand.
"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."
Founded in Montréal, Québec in 2002, GoSecure now has more than 200 employees with country headquarters in both Montréal and San Diego. Growth was already accelerating prior to the COVID-19 pandemic, and earlier this year, GoSecure announced plans to double its Montréal-based team of cybersecurity experts over the next three years.
"Yaletown is focused on investing in the Intelligent Industry and the long-term trends that we identified in the past have not only become reality, but are now immediate needs as a result of the pandemic. The digital transformation of traditional industries through data and technology is accelerating and many of our portfolio companies are leading that transformation across different sectors. Digitalization adoption at the enterprise-level in reaching a tipping point and cybersecurity is a key foundation, as it protects company assets in a dynamic environment," said Salil Munjal, Managing Partner at Yaletown Partners.
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.
About GoSecure
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.
SOURCE Yaletown Partners
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