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Iboss raises $145M
Iboss raised $145 million in a growth financing round led by NightDragon and Francisco Partners. The Boston-based company said the funding will help it support its “rapid growth” in a cybersecurity market worth $25bn.
The company’s security platform combines networking and cloud protection into a Secure Access Service Edge (SASE) model. This eliminates the need for expensive hardware-based security and legacy infrastructure, iboss claims.
In addition, it uses an open SASE platform which fosters flexibility and customization for users. This helps iboss separate itself from other cybersecurity companies using closed SASE platforms which are more restrictive.
iboss’ SASE service also allows organizations to easily connect to malware engines, malware feeds, threat intelligence and log analytics solutions to better protect their networks from cybersecurity threats. This is done through a partnership with the leading cybersecurity vendors.
Iboss said the new financing will allow it to expand its sales and marketing team as well as its workforce. CEO Paul Martini says the rapid evolution of remote workplaces has made this type of security a priority for many businesses.
Bomgar acquires Thoma Bravo
Thoma Bravo, a Boston-based private equity firm, has acquired a secure access software company, Bomgar. Founded in 2003, Bomgar offers solutions that improve productivity and security by enabling secure, controlled access to any system or device, anywhere in the world.
Its Remote Support and Privileged Access Management solutions help more than 10,000 organizations worldwide connect to millions of remote systems every day. The solution helps users provide superior support services while significantly reducing threats to valuable data and systems.
The Bomgar platform unifies a broad set of privileged access capabilities, including identity, privileged credential management, and remote access, with centralized management, reporting and analytics. It provides organizations the visibility and control to reduce risk, achieve compliance objectives, and boost operational performance.
Thoma Bravo, which manages a series of private equity funds with over $16 billion in equity commitments, has invested in many cybersecurity companies, such as SailPoint, Barracuda Networks, LogRhythm, Bomgar, BlueCoat Systems and Entrust. The firm also has a history of successfully executing software “carve-outs” and driving growth and productivity in newly created platform companies.
Boosting the Boston tech scene
Boston is an affluent city with all the perks of a big city, yet it also offers a friendly and diverse atmosphere that’s appealing to tech employees. And as a result, a number of new startup accelerators, incubators, workspaces and venture capital firms have been popping up.
The city has one of the highest percentages of startups headquartered in the U.S. and a growing edtech and fintech scene. The region is home to companies such as Evertrue, Panorama Education and NewGlobe, which helps government agencies create powerful technology-enabled learning systems.
But the region also boasts some of the nation’s best universities, which act as a powerful engine for ideas and produce engineering and business talent. As a result, Boston has a unique advantage over top startup centers like New York and San Francisco.