Cybersecurity startup GoSecure secures $20M Series E funding to accelerate growth in North America
Security is all about timing. All the security technology in the world is designed to either prevent something bad from happening or tell you when something suspicious is happening. For many organizations, this has led to technology sprawl, multiple dashboards (and vendors), and out of control alert notifications.
Enter GoSecure, a cybersecurity startup and an established leader in the rapidly-growing Managed Detection and Response (MDR) market. GoSecure’s MDR is designed to reduce the alert fatigue while at the same time increasing the speed of detection. Only GoSecure has detection and response capabilities across all the main attack vectors, and multi-observational analysis to highly accurately correlate unknown actions, stopping breaches before they happen. Industry testing has confirmed that GoSecure achieves the highest rate of detection, even amongst previously unknown attacks.
Today, GoSecure announced it has closed $20 million in Series E funding to accelerate growth across North America. The round was led by Yaletown Partners, with participation from Bank of Montreal and existing investors SAP/NS2 and Razor’s Edge.
Founded in 2002, the Montreal, Canada and La Jolla, California-based GoSecure provides services and technology that enable organizations to manage cyber risk and implement balanced cyber security controls. GoSecure’s Advanced Adversary Protection offering goes beyond security incident alerting by taking a direct and active role in both detection of advanced threats and in mitigation of active compromises as they occur. Its unified platform consolidates multiple core security functions into a single platform designed for efficient and leveraged operation.
“With over 2,000 customers, GoSecure is the most effective and trusted MDR company in North America,” said Neal Creighton, GoSecure CEO. “Some of the most sophisticated customers in Government and finance trust GoSecure. While competitors like CrowdStrike continue to stress their Next-Gen AV as the next cybersecurity evolution, GoSecure is already delivering sophisticated MDR services that are protecting customers of all sizes.”
Demand for Managed Detection and Response is increasing rapidly, with industry analysts projecting upwards of 40% of mid-market organizations will adopt MDR in the next 5 years. GoSecure is at the leading edge of this growth curve and well positioned to take advantage of the growing demand.
“Our MDR customer base has grown 425% over the past two years, and demand is at unprecedented levels, making now the perfect time for GoSecure to secure growth funding,” continued Mr. Creighton. “We have put together an amazing team of seasoned cybersecurity professionals, including Executive Chairman Robert J. McCullen, who have overseen dramatic growth in their careers. Combined with our market leading technology, and amazing brand recognition, we are poised to lead the Canadian MDR market and expand our endpoint coverage across North America.”
“GoSecure is in an amazing place and the chance to help them reach the next level was extremely appealing,” said Shyam Gupta, Partner at Yaletown Partners. “We’ve been following GoSecure since their early days in Montreal and their progression has been staggering. With the recent acquisitions, growth of the leadership team and market leading technology, they have all the elements necessary to become the leading MDR provider, not only in North America but globally.” Eric Bukovinsky, Partner at Yaletown Partners, added “with the rapid changes coming from Digital Transformation, the future of work, and the Intelligent Industry, cybersecurity is a fundamental pillar of digital strategies. GoSecure’s solutions provide the capability and flexibility for both today’s distributed and evolving security perimeter and the dynamic future footprint of digital enterprises.”
Since launching as CounterTack in 2012, GoSecure has developed its unique behavior-based, predictive detection and response platform, acquired several companies and emerged as a leader in the fast-growing Managed Detection and Response market. GoSecure is now 200 employees with country headquarters in Montreal, Quebec and San Diego, California. Growth was already accelerating prior to the COVID-19 pandemic, and now interest has picked up as organizations adapt to an increasingly mobile workforce.
“GoSecure has evolved over the last three years from a differentiated EDR software company into a full suite, full-service cyber security company with a world class management team. We are pleased to further accelerate the company’s already impressive growth trajectory with this transformative round and the success of our joint solution offerings,” said Drew Drake, Vice President, Strategic Investments, SAP NS2.