Leading SaaS-based platform committed to managing the Digital Risk Protection lifecycle, SafeGuard Cyber, recently announced a successful round of funding. The company earned $45 million in equity and debt led by the NightDragon Security investment firm. Participants in the investment round included Cisco, and previous investors, Allegis Cyber.

The new round of investing will help SafeGuard to accelerate innovation with its AI-powered platform. This solution assists businesses in adopting crucial social media, collaboration, and mobile channels while minimising cybersecurity risk and ensuring compliance. Technology areas have become increasingly essential with today’s remote working environment.

Funding from the investors will allow the SafeGuard business to expand and ensure that its technology capabilities can scale to meet demands.

The Demand for Security During Collaboration

According to Managing Director and Founder of NightDragon, Dave DeWalt, the SafeGuard solution is a one-of-a-kind offering for businesses accessing cloud-based applications. The capabilities that SafeGuard offers are more important than ever in the modern “work anywhere” environment, where conversations are more common across mobile chat, social, and other channels.

NightDragon is looking forward to working with SafeGuard on enabling the modern workforce and delivering a new era of worry-free human connections. According to Jim Zuffoletti, SafeGuard CEO and co-founder, the requirements of the enterprise are evolving, and the SafeGuard solutions aim to deliver the future in risk protection and cybersecurity.

Information security, risk management, compliance, and sales enablement teams will benefit from accessing the latest collaborative tools. However, many of these platforms are still vulnerable to various compliance and security risks. New backing from Cisco, Allegis Cyber and NightDragon will give SafeGuard the opportunity to rapidly scale and meet the needs of a growing marketplace.

SafeGuard Cyber is a platform that allows people to interact safely on any cloud application, including tools for mobile chat, social apps, collaboration services, and cloud environments. The solution empowers compliance teams with better visibility into these applications too, along with the ability to apply policies for more secured usage.

Continued Growth Momentum

The recent investment builds on a continued period of rapid growth for SafeGuard Cyber. The company saw significant development in 2020 as companies turned to more digital channels like social media and collaboration tools to stay connected. During the pandemic, integrations with platforms like WhatsApp and Slack allowed SafeGuard to protect customers everywhere.

According to the Cisco Security Business Group VP of Strategy and Operations, Morgan Mann, security is a crucial component of everything Cisco does. Investment in SafeGuard is a natural step for Cisco’s innovation strategy, as the company believes the company is positioned to become a leader in risk protection solutions.

Already, SafeGuard Cyber customers include massive names in healthcare, financial services, government, technology, entertainment and more. This new investment will allow SafeGuard to continue innovating at a rapid pace to suit all customers.

 

 



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