deepwatch Announces $53 Million Growth Round Led by Goldman Sachs with Participation from ABS Capital

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

Funding Accelerates R&D, Innovation, and Expansion of Advanced SOC Platform

WASHINGTON, DC – October 12, 2020 – deepwatch, a leading provider of intelligence driven managed security services, announced it has closed a $53 million Series B investment led by Goldman Sachs with participation from existing investor, ABS Capital Partners. As part of the investment, Holger Staude, a Managing Director of Goldman Sachs Growth, will join the Board.  Proceeds from the investment will be used to accelerate R&D of the company’s innovative cloud security platform. The funding will also drive continued go-to-market growth and expansion of deepwatch’s partner ecosystem.

deepwatch delivers managed security services by extending customers’ cybersecurity teams and proactively advancing their SecOps maturity. The acceleration of digital transformation and migration to the cloud coupled with rapid and constant changes in the threat landscape places considerable security risk on companies. These factors combined with the global shortage of cybersecurity experts to help companies manage these challenges is driving demand for outsourced security operations, which is a $25 billion market today and expected to more than double to over $50 billion by 2025.

“We’ve experienced remarkable growth since our inception. Our innovative, cloud first platform, advanced algorithms, and powerful maturity scoring capabilities backed by our relentless focus on customer outcomes are substantially changing modern SOC operations and clearly resonating with CISOs,” explained Charlie Thomas, CEO of deepwatch. “We’re extremely excited about the investment by Goldman Sachs to help the company meet the increased demand for our unique security value.”

“The demand for managed security services is expected to grow as staffing and skill shortages, an ever-evolving threat landscape, and an increasing compliance burden lead companies of all sizes to offload their security needs to specialist providers like deepwatch,” said Morgan Gerlak, also of Goldman Sachs Growth. “Holger and I look forward to helping deepwatch capitalize on the significant market opportunity.”

About deepwatch
deepwatch secures enterprises via its unique, highly automated cloud based SOC platform backed by a world class team of experts that protect networks and digital assets 24/7/365. deepwatch extends corporate security teams and proactively improves cybersecurity posture via its proprietary maturity model. deepwatch’s managed security services are trusted by leading global organizations.

About Goldman Sachs Growth
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. As part of MBD, Goldman Sachs Growth is the dedicated growth equity team within Goldman Sachs, with over 25 years of investing history, over $8 billion of assets under management, and 9 offices globally.

About ABS Capital Partners

For 30 years, ABS Capital has been investing in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Our partners have decades of experience as C-level executives, investment bankers, and investors in the industries in which we invest: business and tech-enabled services and healthcare. This combination of experience and expertise means we have a laser-focus on the specific needs growth companies face as they look to get to the next level. By helping to transform over 130 companies through their most crucial stage of development, ABS continues to help unleash the potential for lasting growth. ABS Capital Partners. Here, we grow. For more information, visit www.abscapital.com.

Latest News

Former Senior Marketing VP of Under Armour Joins SquadLocker’s Board of Directors

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

Warwick, R.I. – Jan. 26, 2021 – SquadLocker, a leading provider of online tools and services for teams and organizations to manage custom apparel and equipment purchasing, announced that Jim Mollica, digital marketing expert and former Senior Vice President of Global Consumer Engagement and Digital at Under Armour, has joined its board of directors. A 25-year

Read More
ABS Capital Partners Here We Grow

ABS Capital Announces Several Senior Leadership Promotions on Heels of Growth Equity Firm’s 30-Year Anniversary

Date
Filed Under About Us, ABS Capital News

Baltimore, January 27, 2021 – ABS Capital, a prominent growth equity investment firm headquartered in Baltimore with locations across the Mid-Atlantic and in San Francisco, today announced the promotion of several partners on the heels of its 30-year anniversary. Mike Avon, who joined the firm in 2015, has been named managing general partner.  He will

Read More
ABS Capital Partners Here We Grow

Monthly Roundup – December 2020

Date
Filed Under ABS Capital News

This month’s roundup recognizes a new event ABS Capital is sponsoring, as well as new awards for Scale Computing and GuidePoint Security.

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.