Digital risk protection provider SafeGuard Cyber has received $45 million in equity and funding during the company’s most recent investment round. The majority of the new funds come from NightDragon, as well as contributions from Cisco (News - Alert) Investments and Allegis Cyber.
SafeGuard says the investment will go directly toward business expansion, as well as technological development. The demand for digital security services has jumped dramatically over the last year, and the company expects this new support will help address the increasing demand.
“The needs of the enterprise workplace are changing rapidly, and our solutions represent the future of cybersecurity with risk protection evolving to business-critical digital channels,” said SafeGuard Cyber CEO and co-founder Jim Zuffoletti. “Our new backing from the investors at NightDragon, Allegis Cyber, and Cisco Investments gives SafeGuard Cyber the ability to rapidly scale and meet this massive marketplace need by providing businesses a way to grow securely across the digital landscape."
SafeGuard’s primary business focus is to provide customers with heightened digital security for cloud and remote applications. The growing dependence on social media and digital communications to support work activity during the pandemic has created new risks for employers, and many businesses are scrambling to add additonal layers of network protection. It will remain a high priority are remote work remains part of the new post-pandemic work reality.
“SafeGuard Cyber offers a one-of-a-kind solution for any business or individual using cloud-based applications today,” said Dave DeWalt, Founder/Managing Director of NightDragon. “These capabilities are more critical than ever in today’s ‘work from anywhere’ world, where activities have migrated to social, mobile chat, and modern collaboration channels.”
Edited by Erik Linask