Outpost24 lands SEK 200 million funding to accelerate global expansion
Outpost24’s SaaS platform is well positioned to meet the surge of demand in cloud-based cybersecurity offerings, as companies adapt to remote working and cost saving measures.
London, 16 December 2020 – Outpost24, an innovator in identifying and managing cybersecurity exposure, today announce the closing of a new funding round for SEK 200 million (€19 million).
Owned by Monterro, Outpost24 is one of the largest European-based cybersecurity assessment providers whose SaaS products work to help enterprises automate full stack vulnerability management and improve security posture. The funding round was led by Swedbank Robur, one of Scandinavia’s largest asset managers, alongside Alcur Fonder, a Nordic equity investment firm.
Companies have been hit hard by the increased data breaches since the Covid-19 pandemic. Outpost24 have experienced a significant increase in demand for their cloud-based, full stack security assessment solutions over the last 12 months, and the new investment will accelerate the expansion of their offering and services to customers worldwide.
“This funding round, done during a global pandemic, is a vote of confidence in our full stack security assessment vision. Having seen what a great technology and team we’ve built, our investors are onboard with our mission to help enterprise companies automate cyber hygiene and reduce risks”, says Peter Larsson, Managing Partner at Monterro and Chairman of the Board of Outpost24.
Industry analyst Gartner is predicting worldwide security and risk management spending to continue to grow despite the Covid-19-driven economic downturn. Outpost24’s SaaS platform is well positioned to meet the surge of demand in cloud-based cybersecurity offerings, as companies adapt to remote working and cost saving measures.
Outpost24 enables businesses to effortlessly identify, assess and prioritize IT vulnerabilities with risk-based insights. The company was founded in Karlskrona, Sweden and has expanded rapidly in the recent years with acquisitions (SecludIT in 2018 and Pwnie Express in 2019) and new office openings across major European cities and in the US.
“We have followed Outpost24 for some time and are impressed by their unique full stack product vision to address the white space opportunities in the fast-growing security and risk management market,” says Henrik Nyblom, Manager of Swedbank Robur Ny Teknik.
“We have a strong belief in Monterro with their proven track record, and in Outpost24 with their continued traction in the market. We are delighted to be supporting them on their journey to define and lead this category”, adds Johan Klevby, Co-founder and Manager at Alcur Fonder.
Martin Henricson, CEO of Outpost24 “as malware and phishing attacks continue to make their way through corporate defense, there’s a real need for companies to level up cyber hygiene through continuous assessment and unified security insights. I’m excited to embark on the next stage of growth for Outpost24 by helping our customers meet their risk reduction goals and achieve greater efficiency.”
For more information about Outpost24, please visit the website https://outpost24.com/
The Outpost24 group helps organizations limit their digital exposure with a complete range of cyber risk management solutions. Outpost24’s cloud platform unifies asset inventory, automates security assessments, and quantifies risk in business context. Executives and security teams around the world trust Outpost24 to prioritize the most important security issues across their entire IT infrastructure for accelerated risk reduction. Founded in 2001, Outpost24 is headquartered in Sweden, with additional offices in the US, the UK, the Netherlands, Belgium, Denmark, France, and Spain.
Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders. With operational experience from successfully developing and running companies such as Pointsec, Episerver, and Orc Software, Monterro actively supports its portfolio companies in all aspects of growth. A substantial part of the fund’s capital, 30%, comes from Monterro’s founders and employees. Since it was founded in 2012, Monterro has completed 14 investments and 15 add-on investments. Monterro.com
Youtse Sung, VP Marketing, Outpost24
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