Enterprise Content Firewall Company Accellion Closes $120 Million

By Amit Chowdhry ● Apr 9, 2020
  • Accellion, an enterprise content firewall company that consolidates, controls, and secures sensitive third-party communications, announced it raised $120 million

Accellion — an enterprise content firewall company that consolidates, controls, and secures sensitive third-party communications — announced it raised $120 million in funding led by Bregal Sagemount.

The Accellion enterprise content firewall is known for protecting the IP, PII, PHI, and other sensitive content that companies share every day with suppliers, customers, and partners. And by consolidating security across common 3rd party communication channels, Accellion provides total visibility and security, while simplifying IT infrastructure to reduce costs.

Sagemount’s investment was led by Michael Kosty, William Breskman, and Daniel Eatroff. And Pillsbury Winthrop Shaw Pittman provided legal counsel to Accellion. Goodwin Procter provided legal counsel to Bregal Sagemount.

Accellion has protected over 25 million end users at more than 3,000 global corporations and government agencies, including NYC Health + Hospitals; KPMG; Kaiser Permanente; Latham & Watkins; National Park Service; Umpqua Bank; Tyler Technologies; and the National Institute for Standards and Technology (NIST).

Key Quotes:

“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. 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.”

-Accellion CEO Jonathan Yaron

“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. 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.”

-Bregal Sagemount founder and partner Michael Kosty