Avecto Raises First external Funding with $49M from JMI fairness
JMI fairness, the specialized boom fairness agency based in San Diego and Baltimore, has invested $ 49 million to determine a minority stake in Avecto, a UK-based community security firm that has dependent its U.S. headquarters in Somerville, MA.
Avecto focuses on so-known as endpoint security, an manner that protects a company community with the aid of specializing in the units gaining access to the network (the endpoints), and monitoring their status, activities, device, authorization, and authentication. Avecto says its Defendpoint technology allows a worldwide group to give a boost to network security by managing person privileges, controlling software functions, and “sandboxing,” one way for keeping apart and testing purposes from untrusted sources without permitting this system to get entry to the host device.
Avecto was based in 2008, and the corporate says it has increased its revenue by means of 50 percent yearly in view that 2012. the corporate raised no external funding sooner than the JMI deal.
In a observation launched as of late, Avecto co-CEO Paul Kenyon said the funding from JMI would allow the corporate to increase its world gross sales and advertising and marketing efforts and expedite its R&D plans.
Avecto at the moment has 42 U.S. staff, and plans to hire seven more through the end of the year, in keeping with a spokesman for the corporate. The U.S. body of workers money owed for almost a 3rd of Avecto’s 151 staff global.
JMI equity, founded in 1992 with a stake from BMC co-founder John Moores, makes growth fairness investments in mature tool firms. due to the fact that then, the agency has raised more than $ three billion and invested in more than a hundred and twenty companies. Jit Sinha, a general associate based in Baltimore, MD, and Suken Vakil, a principal based totally in San Diego, are joining Aveco’s board as part of the deal.
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