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Growth strategy includes a strong emphasis on the Managed Security Services Provider (MSSP) Channel
ATLANTA, GA – March 17, 2022 – Apptega, a leading platform helping companies easily build, manage and report their cybersecurity and compliance programs, announced today a $37 million investment from Mainsail Partners, a growth equity firm focused on investments in fast-growing, software companies. The new capital will be used to help scale the company’s award-winning platform into new markets and channels, including MSSPs.
"Partnering with Mainsail will help us not only further develop our innovative software but also support building an experienced team and brand awareness across multiple markets," said Armistead Whitney, founder and CEO of Apptega. "We are really excited to accelerate new features and capabilities that support our mission of making cybersecurity compliance easy for companies and MSSPs around the world."
With the increase in cybersecurity threats and compliance pressures, companies of all sizes are scrambling to build comprehensive cybersecurity and compliance programs that meet industry standards like SOC 2, PCI, CMMC, ISO, GDPR and many others. Historically, organizations have been using Excel spreadsheets and other manual methods to manage these requirements which number in the hundreds. Apptega is a leading platform offering 25+ cybersecurity frameworks, easy-to-follow guidance, collaboration tools, and reporting in one simple package.
"We are proud to partner with the team at Apptega to streamline the complexity of cybersecurity and compliance," said David Farsai, Partner at Mainsail. "We are especially impressed with Apptega's ability and success empowering MSSPs to more effectively implement and manage comprehensive cybersecurity and compliance programs to help reduce incidents, streamline evidence collection and achieve compliance for their clients from assessment to audit."
Momentum Cyber, a premier investment bank for the cybersecurity industry, acted as the financial and strategic advisor to Apptega on this transaction.
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Apptega delivers a comprehensive, award-winning platform helping companies of all sizes easily build, manage and report their cybersecurity and compliance programs. From assessment to audit, Apptega delivers efficiency gains across multiple cybersecurity frameworks including SOC 2, PCI, HIPAA, GDPR and CMMC. Apptega is trusted by 500+ established brands in every industry - including financial services, healthcare, SaaS, aviation, insurance, non-profits, and Managed Security Service Providers (MSSPs). Founded in 2017, Apptega is headquartered in Atlanta, GA. For more information, visit https://www.apptega.com.
About Mainsail Partners
Mainsail Partners is a growth equity firm with offices in San Francisco and Austin that invests in fast-growing, bootstrapped software companies. The firm has raised over $1.3 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm’s approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.
VP Marketing, Apptega
Senior Marketing Manager, Mainsail