Funding To Accelerate Growth in Large Enterprise Accounts and Expand Further into Global Markets
SAN FRANCISCO and TEL AVIV, Israel, Aug. 1, 2017 /PRNewswire/ -- GuardiCore, a leader in internal data center and cloud security, today announced that the company has raised an additional $15 million as an extension to its Series B funding round. This brings the company's total funding raised to date to $48 million. The additional investment was led by TPG Growth, the middle market growth equity platform of alternative asset firm TPG, and Greenfield Partners, a TPG-Growth backed company based in Israel that focuses on investing in early growth-stage global technology and tech-enabled businesses. Existing investors include Battery Ventures, 83North, Cisco Investments and Dell Technologies Capital.
"Since our founding, we've been focused on building a security platform specifically designed for today's modern data center and clouds," said GuardiCore CEO and co-founder Pavel Gurvich. "We've succeeded in driving rapid customer adoption and today are deployed at scale in some of the world's largest organizations. TPG is a veteran investor with a successful history in software and technology. The addition of TPG to our already impressive list of investors is a strong endorsement that allows us to accelerate our growth in large enterprise accounts and expand our solution further into the broader global market."
GuardiCore provides a single, scalable security solution that helps its customers protect critical workloads and applications through better visibility, segmentation, breach detection and response. Its flagship product, the Centra Security Platform, uses multiple detection methods including patented dynamic deception to reduce dwell time and block lateral movements. Automatic incident analysis provides security teams with real-time Information and comprehensive intelligence about attack methods so they can quickly prioritize security response actions which can often takes days to analyze and mitigate using traditional tools and techniques.
GuardiCore customers represent large organizations across multiple industries, including financial services, healthcare, retail, communications and cloud-based service providers. GuardiCore recently announced that Santander Brasil, the largest subsidiary of Santander Group, had selected GuardiCore's Centra Security Platform to provide advanced data center security.
"GuardiCore fits perfectly within both TPG Growth's and Greenfield's mandate: the company is a leading innovator, with a differentiated approach, in a segment of the industry that will continue to see significant growth," said Tim Millikin of TPG. "Leveraging our combined expertise and network in the software and technology space, we are eager to work with Pavel and the team to accelerate the business."
"Across industries, businesses large and small continue to make security a top priority. GuardiCore offers a versatile, scalable, best-in-class solution, backed by a highly-technical and knowledgeable team of experts," said Yuda Doron, Co-Founder and Head of Greenfield Partners. "We look forward to partnering closely with them to help drive further growth."
TPG has a strong track record of partnering with technology and software companies, both new and established, that offer creative solutions to salient problems. In 2016, TPG Capital and Intel jointly invested to relaunch McAfee as a standalone entity in a transaction that valued the company at $4.2 billion. The year prior, TPG Growth invested in Tanium and Zscaler, two high-growth, next-generation, cloud-based cybersecurity businesses. Across TPG Growth and TPG Capital, other notable investments in the technology and software space have included C3IoT, CCC Information Services, Greensky, Infinidat, Lenovo, SuccessFactors, and Vertafore. This transaction marks Greenfield's second security investment, following its investment in Avanan, a New York- and Tel-Aviv-based cloud security innovator, last year.
GuardiCore is an innovator in data center and cloud security focused on delivering more accurate and effective ways to stop advanced threats through granular visibility, segmentation and real-time breach detection and response. Developed by the top cyber security experts in their field, GuardiCore is changing the way organizations are fighting cyber attacks in their data centers. For more information, visit www.guardicore.com.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With more than $8.3 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has approximately $73 billion of assets under management. For more information, visit www.tpg.com.
About Greenfield Partners
Greenfield Partners is a joint venture between TPG Growth, the middle market and growth equity investment platform of alternative asset firm TPG, and Yuda Doron, a successful Israeli operator, investor, and entrepreneur. Greenfield Partners targets investments of up to $20 million in early growth-stage global technology and tech-enabled businesses with a presence in Israel. The Greenfield team on the ground in Israel applies its years of operating experience with TPG's global network to help strengthen and grow its portfolio companies.