ABS Capital Adds deepwatch to Portfolio of Growth Companies

Filed Under Business & Tech-Enabled Services, ABS Capital News

deepwatch Announces $23 Million Series A Investment

Disruptive Cybersecurity Platform Redefining Managed Security Services

DENVER, CO and ST. PETERSBURG, FL – April 3, 2019 – deepwatch, a leading provider of intelligence-driven managed security services, announced the closing of a USD $23 million Series A funding round led by ABS Capital Partners, a leading late-stage growth company investor.  deepwatch will leverage these funds to accelerate research and development for its machine learning security analytics platform, as well as go-to-market expansion.  As a result of the transaction, Michael Avon, a venture partner with ABS Capital, will join the deepwatch board of directors.

“deepwatch has developed an innovative security operations platform as evidenced by its very impressive growth and momentum,” said Michael Avon. “We look forward to partnering with deepwatch as it continues to disrupt and redefine the modern managed security services industry to help its customers protect their brands and critical assets against a continuously advancing threat landscape.”

Founded in 2015 as the vSOC business unit within GuidePoint Security, deepwatch has experienced tremendous growth and rapid adoption of its advanced security services platform by Fortune 500, Global 2000, and mid-sized enterprises.  The demand for managed security services continues to accelerate amid a global shortage of cybersecurity personnel. This investment underscores the market’s enthusiasm for deepwatch’s differentiated managed security solutions, as well as the value of GuidePoint Security as a go-to-market partner.

deepwatch is disrupting the MSSP industry.  deepwatch’s solutions are driven by its relentless focus on customers and unrivaled cloud SecOps platform.   Designed to address the systemic flaws in the industry, deepwatch delivers the managed security services cybersecurity leaders have longed for including:

  • Exclusive Maturity Models – Cybersecurity leaders struggle with measuring, maturing, and justifying their cybersecurity program. deepwatch’s exclusive maturity models index customers’ cybersecurity program maturity, benchmark against industry peers and provide detailed maturity roadmaps. Mapped to common frameworks such as NIST CSF and MITRE ATT&CK, deepwatch’s maturity models provide the right details no matter the audience.
  • Cloud SecOps Platform – Threats don’t get easier, as the state of cybersecurity is increasingly complex. deepwatch continuously evaluates, integrates, and tunes leading technologies into its platform to ensure the ability to support customers’ fast-changing requirements.  deepwatch manages these technologies, and its customers consume the results.
  • Data-Centric Deployment Models – deepwatch’s cloud-based architecture supports businesses globally. With hosting options in over 30 worldwide locations, data is stored in-country, meeting data sovereignty requirements, including GDPR and BDSG, while providing centralized views and reporting for global audiences. deepwatch holds PCI and SOC 2 certifications, as well as maintains a certified GDPR Data Privacy Officer (DPO) on staff.
  • Named Delivery Squads – Cybersecurity is all about context. deepwatch ensures customers are assigned named resources across all roles and shifts to ensure they maintain context. Understanding the minute details of customers’ evolving environments enables deepwatch personnel to identify potential issues that a less personal approach would miss.
  • Real-Time Collaboration – Customers view deepwatch’s personnel as an extension of their cybersecurity teams, rather than a third-party service provider. The flexibility of multiple communications channels integrated into the deepwatch Cloud SecOps Platform fosters this relationship.
  • Portability & Access – deepwatch passionately believes that customers’ data is theirs, and they should be able to access it at any time. No games, no proprietary formats, no hoops to jump through. Access it anytime, and take it should you leave.

“When starting vSOC, our goal was to disrupt the managed security services industry. We succeeded through our relentless focus on customers, as well as providing a flexible, transparent, and carefully curated platform. Our vision is to redefine the industry, realizing the promises of data analytics and machine learning for our customers,” said deepwatch Founder and CTO, Justin Morehouse.

“Cybersecurity leaders immediately recognize deepwatch’s truly revolutionary approach to managed security services. Cybersecurity teams are overwhelmed, and deepwatch is the answer as demonstrated by our 3,631% growth rate over the last 3 years, which places us among the Top 100 fastest growing companies,” added deepwatch CEO, Charlie Thomas.

deepwatch’s cloud SecOps platform and relentless customer focus are redefining the MSS industry. Designed to be different, deepwatch provides customers with world-class MSS solutions and unrivaled value by extending their cybersecurity teams, curating leading technologies into deepwatch’s cloud SecOps platform, and proactively driving their SecOps maturity.

Managed Security Services In Demand

deepwatch is capitalizing on the increased demand for cybersecurity personnel and expertise in a complex and growing cyber threat environment.   According to Frost & Sullivan, managed security services (MSS) continues to be one of the fastest growing sub-sectors in cybersecurity, with the global MSS market expected to grow 16% on average from 2016-2020 to ~$20 billion.

Cybersecurity Ventures estimates that the global cost of cybercrime will reach $6 trillion in damages annually by 2021, up from $3 trillion in 2015, provoking a call to action across businesses to strengthen cyber defenses.  Companies looking to bolster their security posture require significant resources to find and retain talent, leverage the right technology, and maintain best practices. These demands make it hard to justify the cost of managing cybersecurity internally.  With the cyber workforce at 0% unemployment and the growing number of data and technologies generating noise and false positives, executives and boards are increasingly looking to outsourced security professionals to complement and fortify their organization’s cybersecurity operations and strategy.

Latest News

ABS Capital Adds Apptopia to Portfolio of Growth Companies

Filed Under Business & Tech-Enabled Services, About Us, ABS Capital News

BOSTON, MA (May 11, 2021) – Apptopia Inc., the leader in real-time competitive intelligence, today announced the close of a $20 million financing round led by ABS Capital Partners with participation from existing investors, including Blossom Street Ventures. The company has been profitable for the past year while growing revenue 50% year-over-year for the past

Read More
ABS Capital Partners Here We Grow

ABS Capital Partners Promotes Bion Ludwig to General Partner and Welcomes Marla Blow as Portfolio Advisor

Filed Under About Us, ABS Capital News

Ludwig, who joined ABS in July 2020 as a venture partner, will continue sourcing exciting new investment opportunities and providing strategic support to ABS’s portfolio companies.  Blow, who currently serves as President and Chief Operating Officer of the Skoll Foundation, is working with ABS to connect the firm with strong growth companies and executives from

Read More
Exec Online Logo

ABS Portfolio company ExecOnline Raises a $45 million growth equity round with participation from ABS Capital

Filed Under Business & Tech-Enabled Services, About Us, Portfolio Company News

ExecOnline partners with elite business schools like Berkeley Haas, Columbia, Stanford GSB, and Wharton, and leverages its unique applied learning approach and proprietary online platform to deliver participant completion rates above 90%, impressive NPS scores, and strong ROI for the enterprise. The funding will be used to accelerate growth by investing in sales and marketing,

Read More
Back to Top

Want to hear it first?

Sign up to receive ABS news
  • This field is for validation purposes and should be left unchanged.