Demand for BlueVoyant's cybersecurity solutions drives triple-digit growth
NEW YORK, Feb. 23, 2022 /PRNewswire/ -- BlueVoyant, an industry-leading internal and external cyber defense platform, announced today the close of its Series D round. Liberty Strategic Capital, a private equity firm founded and led by former U.S. Secretary of the Treasury Steven T. Mnuchin, led the $250-million round with participation from new investors as well as existing investors, including ISTARI (a Temasek company), Eden Global Partners (a New York-based growth equity investment firm), and 8VC, among others. Eden's registered broker-dealer affiliate, Eden Global Capital Partners, served as a strategic advisor and together with Morgan Stanley as co-placement agent for the round. Secretary Mnuchin will join BlueVoyant's Board of Directors.
This investment will enable the firm to continue deepening its advanced technical capabilities, accelerate its global expansion, and build upon a record-setting 2021 that included triple-digit growth momentum, key acquisitions, and an 80% increase in customer count. In addition, in 2021, the company increased its existing global footprint by expanding into more than 10 countries. Since 2018, BlueVoyant has grown annual recurring revenues at 117% on average.
"When we started BlueVoyant, we knew that cybersecurity was quickly becoming one of the most significant threats businesses and government agencies face, and something our team was uniquely prepared to address," said Jim Rosenthal, CEO, BlueVoyant. "In just over four years, we have grown to more than 560 employees, and have earned the trust of more than 700 customers. The market demand we are seeing is tremendous and we see this trend accelerating as security professionals pivot to our outcomes-based cybersecurity solutions."
Said Tom Glocer, executive chairman and co-founder of BlueVoyant: "As lead director at two Fortune 100 companies, I see the growing demand for advanced cybersecurity solutions. This demand will only grow over the coming years, and BlueVoyant is uniquely equipped to meet both the internal and external needs of organizations large and small."
Despite an exhaustive array of cybersecurity tools available on the market, cyber defenders continue struggling to stop adversaries from stealing their intellectual property and customer data, prevent ransomware attacks, and keep their networks and business systems operational. BlueVoyant's renowned team comes from some of the most advanced cyber defense environments in the world, including government agencies, defense, and mission-critical enterprises.
BlueVoyant's vision is to give cyber defenders the advantage over attackers by delivering the technology, telemetry, and expertise required to defend against sophisticated cyber attacks. The company's approach is outcomes-based and its technology is purpose-built to converge internal and external cybersecurity capabilities into a single, unified platform. All backed by elite cybersecurity experts who know how to deploy, defend, and respond.
"As cyber threats increase, BlueVoyant has positioned itself as a differentiated leader in managed detection and response, third-party cyber risk management, digital risk protection, and cybersecurity professional services," said Secretary Mnuchin. "We're thrilled to partner with BlueVoyant and its top-tier management team as they continue to drive growth in this critical and rapidly expanding market."
BlueVoyant plans continued expansion of its key lines of business, which include:
At BlueVoyant, we recognize that effective cybersecurity requires active prevention and defense across both your organization and supply chain. Our proprietary data, analytics, and technology, coupled with deep expertise, work as a force multiplier to secure your full ecosystem.
Accuracy. Actionability. Timeliness. Scalability.
Founded in 2017 by former Fortune 500 and former government cyber officials, BlueVoyant is headquartered in New York City and has personnel in Washington, D.C., Maryland, San Francisco, Israel, Philippines, Canada, U.K., Spain, Australia, Hungary, Czech Republic, Romania, Slovakia, Netherlands, Belgium, Germany, Sweden, Denmark, El Salvador, Colombia, Mexico, and Panama. Visit www.bluevoyant.com.
About Liberty Strategic Capital
Liberty Strategic Capital is a Washington, D.C.-based private equity firm focused on strategic investments in technology, financial services and fintech, and new forms of content. The firm was founded in 2021 and is led by former Secretary of the Treasury Steven T. Mnuchin. Liberty's portfolio includes significant investments in the cybersecurity technology firms Cybereason and Contrast Security, as well as an investment in the satellite technology firm Satellogic.
The BlueVoyant investment will be Liberty Strategic Capital's fourth investment since its founding earlier last year. Secretary Mnuchin was also the U.S. government's lead official responsible for cybersecurity across the financial services sector. In that capacity, he worked directly with top U.S. regulators and chief executives of the largest U.S. financial institutions on cybersecurity preparedness, regulatory coordination, and incident response. In addition, Secretary Mnuchin led the modernization of technology and data security within the Internal Revenue Service to better protect the single largest collection of sensitive personal financial data in the country.
Liberty Managing Director Michael D'Ambrosio, a former assistant director of the United States Secret Service with deep experience in national security issues, played a key role in this investment. Mr. D'Ambrosio will play a leading role in Liberty's efforts to provide strategic assistance to BlueVoyant by joining its strategic advisory board.
About Eden Global Partners
Eden Global Partners LLC is a long-term focused investment firm that partners with market-leading companies in high-growth sectors as a direct investor and strategic financing partner. As a growth equity investor, Eden Global provides scaling businesses with differentiated, permanent capital. Through its affiliate, Eden Global Capital Partners LLC, a registered broker-dealer and FINRA member firm, Eden Global has the unique ability to leverage a network of like-minded long-term oriented family offices, pension funds, sovereign wealth funds, and other capital partners to facilitate strategic capital solutions.
About ISTARI
Established in 2020 by Temasek, an investment company headquartered in Singapore, ISTARI has a unique model. It is an advisory practice, investor and educator through its Academy, developed and delivered in collaboration with Columbia University, School of International and Public Affairs. ISTARI harnesses the collective power of the world's leading cybersecurity companies, experts, and knowledge to work alongside clients on their journey to build cyber resilience.
The ISTARI Collective includes Sygnia, Ensign InfoSecurity (EIS), BlueVoyant, Claroty, Armis, Prevalent AI, and VisibleRisk. Headquartered in London, ISTARI has a global presence in the US, Europe and Singapore. To learn more, please visit https://istari-global.com/.
BlueVoyant Press Contact
Jennifer Schlesinger
T: +1 201.397.4976
E: jenny.schlesinger@bluevoyant.com
Eden Global Partners Press Contacts
Will Braun and Sydney Gever
Abernathy MacGregor
T: +1 212.371.5999
E: whb@abmac.com / sng@abmac.com
ISTARI Press Contact
Elliot Gooch
T: +44 07906318535
E: elliotg@allisonpr.com
