Stockholm – 13 July 2022: Outpost24 (“Outpost24” or the “Company”), a leading innovator in identifying and managing cybersecurity threats and vulnerabilities, today announced it has partnered with Vitruvian Partners (“Vitruvian”) to power the Company’s next phase of growth. The new ownership structure will enable Outpost24 to invest in its people, processes, and industry-leading technology to further strengthen its leadership position in a large and growing market. Vitruvian has acquired a majority ownership position in the Company, with management and key employees remaining significant minority shareholders.
With over 2,500 customers in more than 65 countries, Outpost24’s full stack cyber risk management SaaS platform empowers businesses to address the rapidly rising need to improve their cybersecurity posture. Outpost24’s comprehensive set of solutions scan both internal assets and external data sources to discover, assess and prioritise vulnerabilities and threats across potential attack surfaces. It offers industry leading, best-of-breed, cyber risk management solutions in vulnerability management, application security, threat intelligence and access management – in a single platform that is easy-to-use and deploy.
Underpinned by the growing awareness of the mission criticality of cybersecurity, Outpost24 has demonstrated strong long-term organic growth and profitability – quickly developing into one of the most well renowned cyber risk management platforms worldwide. Outpost24 today has a global presence with offices across Europe and the US, with further plans to continue to invest in international expansion during the coming years.
Vitruvian has previously invested in several successful cybersecurity companies including most recently Bitdefender, CFC, and Darktrace as well as numerous Nordic champions that have become international success stories, including Benify, CRF Health, EasyPark, Just Eat, Scrive and Unifaun. Vitruvian is an international investment firm with more than 100 professionals across eight countries and three continents with a focus on market-leading high-growth companies.
“Our vision has always been to make businesses resilient to cybersecurity risk,” said Karl Thedéen, CEO at Outpost24. “Through our partnership with Vitruvian we will have increased opportunities to empower security and business leaders to identify cyber threats and secure their organizations with speed and confidence. The new investment will bolster our ambition to become a global cybersecurity champion by accelerating our product roadmap and increasing our sales and marketing efforts.”
Jussi Wuoristo, Partner at Vitruvian Partners, added: “As the frequency and cost of cyber attacks is quickly increasing, Outpost24 has developed an unrivalled full stack cyber risk management platform that creates tremendous value for businesses around the world. Vitruvian has backed several exceptional global leaders in cybersecurity and we are excited to partner with the team at Outpost24 to help accelerate the company’s international expansion and product innovation.”
Martin Henricson at Monterro, added: “Seeing what we’ve achieved together to help multinational businesses reduce security exposure and prevent cyberattacks has been rewarding. We are extremely proud of the market position and product innovations Outpost24 has accomplished under our ownership and we look forward to seeing continued success for the company as part of Vitruvian.”
Outpost24 was advised by William Blair with Carnegie advising Vitruvian. For more information about Outpost24 visit www.outpost24.com.
For Outpost24: Youtse Sung, Outpost24: email@example.com, +44 7827 327 921
For Vitruvian Partners: Matthew Smallwood, Instinctif: firstname.lastname@example.org, +44 2074 572 020
For Monterro: Charlotte Banning, Monterro: email@example.com , +46 72 225 17 14
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.
Vitruvian Partners is a leading international growth investor with offices across London, Stockholm, Munich, Madrid, Luxembourg, San Francisco, Singapore and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, financial services, life sciences & healthcare, media, and business and consumer services.
Vitruvian has backed over 70 companies and has approximately €10 billion in assets under management, which is among the largest pools of capital in Europe supporting innovative and higher growth companies. Notable investments to date include global market leaders and innovators in their field such as Just Eat, CRF Health, Farfetch, Darktrace, Trustpilot, Marqeta, TransferWise, Skyscanner and others. Vitruvian has a strong presence in the Nordics with an established office in Stockholm and a track record of fifteen investments across the region: Accountor, Bambuser, Benify, BHG Group, Carasent, CRF Health, Enfuce, EasyPark, Just Eat, Outpost24, Scrive, Snow Software, Storytel, Trustpilot and Unifaun.
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, Orc Software, and Lime Technologies, Monterro actively supports its portfolio companies in all aspects of growth. A substantial part of the fund’s capital, 25%, comes from Monterro’s founders and employees.