Company Delivers Consolidated Solution to Secure 3rd Party Communications Across Email, File Sharing, Enterprise Apps, Web Forms, SFTP, MFT, and Mobile
Palo Alto, CA |
April 7, 2020
Accellion, Inc., provider of the enterprise content firewall that consolidates, controls, and secures sensitive third party communications, today announced a $120 million financing round led by Bregal Sagemount.
The Accellion enterprise content firewall protects the IP, PII, PHI, and other sensitive content that companies share everyday with suppliers, customers, and partners. By consolidating security across common 3rd party communication channels, Accellion provides total visibility and security, while simplifying IT infrastructure to reduce costs.
“We are very excited to bring on Sagemount as a strategic and financial partner. Given their success investing in market-leading, high-growth software companies, we believe they are the right partner to help us create the enterprise content firewall category,” commented Jonathan Yaron, Chief Executive Officer of Accellion. “Protecting data shared with third parties is a major CISO challenge. Today’s IT infrastructure has too many tools, too little governance, and produces zero visibility. With this transaction, Accellion is well positioned to accelerate acquisitions to further consolidate the sprawl of siloed applications under the enterprise content firewall.”
“Companies are increasingly required to choose between security and functionality when it comes to email encryption, secure file transfer, secure collaboration, MFT, and other communications with the outside world. The unique Accellion content firewall platform provides the best of both worlds,” said Michael Kosty, Founder and Partner at Bregal Sagemount. “Accellion’s market positioning has allowed it to build a unique suite of technology solutions to help companies maintain high levels of security across a rapidly evolving landscape.”
Sagemount’s investment was led by Michael Kosty, William Breskman, and Daniel Eatroff. Pillsbury Winthrop Shaw Pittman provided legal counsel to Accellion. Goodwin Procter provided legal counsel to Bregal Sagemount.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with $3.5 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $40 million to $200 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance. For more information, please visit www.sagemount.com.
About Accellion
Kiteworks’ mission is to empower organizations to effectively manage risk in every send, share, receive, and save of sensitive data. The Kiteworks platform provides customers with a Private Data Network that delivers data governance, compliance, and protection. The platform unifies, tracks, controls, and secures sensitive data moving within, into, and out of their organization, significantly improving risk management and ensuring regulatory compliance on all private data communications.
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Kiteworks is a registered trademark of Accellion, Inc. in the US and other countries. All other trademarks contained herein are the property of their respective owners.
