Apptega, an end-to-end cybersecurity compliance platform company, announced it has raised $15 million in growth capital, including third-party debt and growth equity from Mainsail Partners. This funding will go toward development of its continuous security and compliance platform, which is among few purpose-built for service providers such as MSSPs and MDR companies.
The company’s solution enables these service providers to provide real-time security and compliance scoring to clients in a way that satisfies industry and regulatory requirements. And Apptega’s R&D efforts point toward productizing artificial intelligence so that managed service firms can deliver security and compliance guidance more efficiently and at higher margins.
Apptega provides a full-lifecycle compliance platform that lines up with the technology stacks and services of managed service and security providers. And by helping providers map their services and tools to the tasks for meeting the requirements of common security and compliance frameworks,
Plus, Apptega enables providers to bring to market continuous compliance offerings, from security assessment to audit, that aim to help increase recurring revenue, margins and retention; standardize and validate existing cybersecurity services by packaging them in a way that satisfies frameworks like SOC 2, PCI, CMMC and ISO 42001; and convert advisory engagements into long-term customer relationships.
KEY QUOTES:
“While many companies offer compliance software, few if any have considered the very specific needs of managed service providers, who must address a wide breadth of client challenges simultaneously and clearly demonstrate the value of often hard to quantify security services.”
“This is an incredible opportunity not only to build software that helps them deliver market-differentiated security and compliance services, but to provide the enablement and go-to-market programs that can help them grow recurring revenue and stand out from the competition.”
- Dave Colesante, Apptega CEO and cybersecurity veteran who joined the company in November
“Our investment speaks to the incredible confidence we have in Apptega’s product vision and its continued ability to deliver market-leading software that delights businesses of all sizes, including the many managed service and security providers that rely on it daily.”
- David Farsai, Partner at Mainsail Partners and Apptega board member
