- CRITICALSTART announced that it has secured a sizeable $40 million minority investment from growth equity firm Sagemount
CRITICALSTART is a company that has built a zero-trust platform known for developing managed detection and response services. Recently, CRITICALSTART announced a sizeable $40 million minority investment from growth equity firm Sagemount.
With the outside investment, CRITICALSTART is going to significantly expand its market presence for the company’s Managed Detection and Response (MDR) services as it expands nationally including new field offices in Los Angeles and New York City for serving enterprise customers and its network of channel partners.
CRITICALSTART‘s MDR services are differentiated by its Zero-Trust Analytics Platform (ZTAP), which investigates all alerts until they can be safely filtered out — which results in a 99% reduction in alerts that require attention. And CRITICALSTART also offers a MOBILESOC application so customers can interact with the company’s SOC analysts from anywhere to investigate, escalate, and remediate security issues without being tethered to desks.
“As more security partners and end customers recognize the unique value our ZTAP and MDR services add to their technologies, we’ve seen our MDR opportunities quadruple and our deal size triple compared to a year ago. This funding gives us the resources to accelerate our expansion and capitalize on the market demand for MDR services,” said CRITICALSTART CEO Rob Davis. “As an employee-owned company, CRITICALSTART was looking for a capital partner that understood the market opportunity and valued our culture and focus. Sagemount proved to be the perfect fit.”
CRITICALSTART has been named an MDR launch partner for high-profile security technologies like Microsoft’s Advanced Threat Protection, Chronicle’s Backstory, and Palo Alto Networks’ Cortex XDR/Traps. And CRITICALSTART‘s ZTAR and MDR services support a wide variety of security technologies such as Splunk, Cylance, Carbon Black, and several others. Last year, CRITICALSTART‘s MDR business grew over 300% and the company is on pace to more than double revenue this year.
“When it comes to growth investing, the best companies are looking for a great partner, not just an investment,” added Sagemount partner Michael Kosty. “As a high-growth, profitable private company, CRITICALSTART was successfully attacking the market for MDR services on its own but sought to accelerate product development and partnership opportunities. The company plans to capitalize on the huge enterprise opportunity for MDR services, which aligns perfectly with our strategy of providing flexible capital and strategic assistance to market-leading companies with recurring revenue models in high-growth markets.”
