PHOENIX, AZ – July 14, 2022 – Bishop Fox, the main authority in offensive safety, at the moment introduced $75 million in Sequence B funding from growth-oriented funding agency, Carrick Capital Companions. The strategic second spherical brings complete funding to $100 million for the 17-year-old cybersecurity agency. The funding shall be used to develop the corporate’s unparalleled staff of offensive safety consultants and gas enlargement of its award-winning Cosmos platform. As a part of the transaction, Carrick Managing Director Chris Wenner will be a part of the Bishop Fox board of administrators, alongside present board member Will Lin, Managing Director of Forgepoint Capital, the Sequence A lead investor. Forgepoint Managing Director Don Dixon will shift from his function as a board member to a board advisor.
As cyberattacks escalate within the wake of financial uncertainty and geopolitical dynamics, the US authorities has proposed laws designed to extend private and non-private sector collaboration on cybersecurity, together with payments aimed toward increasing and activating a broader workforce and selling training and preparedness in protection of US property. These initiatives place Bishop Fox in a singular place to steer the market in each areas. The corporate has developed one of many {industry}’s most prestigious academic packages for offensive safety coaching and development, together with Bishop Fox Academy, curriculum developed in partnership with universities, and in depth mentoring assets. Moreover, Bishop Fox’s complete offensive safety options and industry-leading assault floor administration expertise assist organizations proactively enhance their safety posture.
The ability of Bishop Fox stems from creatively combining expertise and automation with unmatched human experience to seek out vulnerabilities earlier than the unhealthy guys do. This profitable mixture serves as the muse for the Cosmos platform, which performs steady offensive testing at scale to outpace fashionable attackers. Executing greater than 2.3 billion operations and figuring out 13,000+ exposures each week, Cosmos can save safety groups greater than 5,000 hours per yr in vulnerability identification and triage, and cut back the time to remediate crucial vulnerabilities by 82%. The growing demand for the platform resulted in tripling Annual Recurring Income (ARR) in 2021.
“This capital will gas extra innovation in our Cosmos platform, funding in our individuals, and enlargement of Bishop Fox Academy. By additional creating the perfect expertise and expertise within the {industry}, we’ll proceed to outline the way forward for offensive safety,” mentioned Vinnie Liu, co-founder and CEO of Bishop Fox. “Moreover, the funding will allow us to speed up our worldwide enlargement, extending our experience to assist much more organizations defend ahead. We’re excited to companion with Carrick, an investor who shares our imaginative and prescient and mission.”
“Bishop Fox has among the best reputations with clients now we have ever come throughout, and the best high quality options and tech-enabled companies within the cybersecurity {industry}. The
mixture of their world-class safety operators, distinctive course of, and Cosmos expertise platform has enabled them to repeatedly enhance the safety posture of complicated, international enterprises at scale,” mentioned Wenner. “We’re excited to companion with them to increase their management place and innovation in offensive safety.”
Trusted by hundreds of consumers, together with Google, Equifax, John Deere, Sonos, and Zoom,
Bishop Fox has continued to achieve momentum and obtain {industry} recognition since saying report progress and success earlier this yr. Highlights embody:
● Reaching the only management rating for Cosmos within the Maturity/Platform Play quadrant within the GigaOm Radar Report for Assault Floor Administration (ASM). ● Scoring a “hat trick” in three separate {industry} award packages – the Stevies, the Globees and the World InfoSec Awards – all of which included innovation among the many accolades.
● Rising first quarter bookings by greater than 50% year-over-year from 2021 to 2022.
● Rising the agency’s workforce by 33% for the reason that starting of the yr, with record-setting hiring within the first half of 2022.
● Reaching a Internet Promoter Rating (NPS) of 90 within the first quarter of this yr for consulting companies, which is taken into account world class in buyer satisfaction. ● Rising its partnership with the ioXt Alliance, which in six months superior from serving as an Approved Labs companion to gaining approval to check IoT units beneath the ioXt Certification Program’s base profile. ● Increasing the manager staff with the additions of Penelope “Penny” Yao as Vice President of Product Administration and KJ Nouri as Vice President of Engineering.
“It has been a pleasure to companion with Bishop Fox on their extraordinary journey,” mentioned Lin. “Their demonstrated dedication to complete and steady safety innovation amidst altering buyer wants and the evolving menace panorama have made them the answer of selection for contemporary organizations, and why they’re the chief in offensive safety. We’re excited to proceed our partnership and to welcome Chris and Carrick to the board of administrators.”
About Carrick Capital Companions
Headquartered in San Francisco and Newport Seashore, Carrick Capital Companions is a growth-oriented funding agency that makes use of ABV (Strategy to Constructing Worth) to operationally scale fast-growing, technology-enabled companies. Carrick provides worth by taking a concentrated method and dedicating vital assets post-investment. Leveraging many years of expertise, Carrick helps scale nice firms that ship glorious returns for buyers, stimulating financial progress and positively impacting the {industry} panorama. Working straight with CEOs and entrepreneurs, Carrick fulfills an important want for funding capital and progress experience. For extra info, please go to www.carrickcapitalpartners.com.
About Forgepoint Capital
Forgepoint Capital is probably the most lively cybersecurity enterprise capital agency on this planet, with 37 lively portfolio firms and the most important and most numerous staff devoted to investing within the sector. The agency brings over 100 years of confirmed company-building expertise and its Advisory
Council of greater than 75 senior executives throughout industries to again transformative firms defending the digital future. Based in 2015, Forgepoint has raised $770 million, deployed over $500 million, and empowered {industry} leaders corresponding to 1Kosmos, Space 1 Safety (Cloudflare), Attivo Networks (SentinelOne), BehavioSec (RELX), Bishop Fox, Cysiv (Forescout), Huntress, IronNet Cybersecurity (IRNT), Noname Safety, NowSecure, ReversingLabs, Uptycs and extra to succeed in their market potential. Study extra about Forgepoint at https://forgepointcap.com or observe us on LinkedIn.
About Bishop Fox Bishop Fox is the main authority in offensive safety, offering options starting from steady penetration testing, pink teaming, and assault floor administration to product, cloud, and software safety assessments. We’ve labored with greater than 25% of the Fortune 100, half of the Fortune 10, eight of the highest 10 international expertise firms, and all the high international media firms to enhance their safety. Our Cosmos platform was named Greatest Rising Know-how within the 2021 SC Media Awards and our choices are constantly ranked as “world class” in buyer expertise surveys. We’ve been actively contributing to and supporting the safety group for nearly twenty years and have printed greater than 16 open-source instruments and 50 safety advisories within the final 5 years. Study extra at bishopfox.com or observe us on Twitter.
