Prevalent has received a USD4 million growth equity investment from Fulcrum Equity Partners, a private equity firm headquartered in Atlanta, Georgia.
The investment funds will be used to grow and expand Prevalent’s sales, marketing and technical teams, as well as advance its third-party risk and vendor threat management technologies.
Prevalent also plans to use the capital to accelerate its proprietary professional services, which are targeted at helping businesses adhere to compliance requirements and industry standards.
Under the new agreement, the company’s chief technology officer and co-founder Norman Menz and chief executive and co-founder Jonathan Dambrot will continue to lead the company’s strategic direction and daily operations.
“This is a game-changing investment that will provide us with the capital needed to accelerate our strategic growth plan and go mainstream with the technology that businesses desperately need to proactively protect against third-party threats and vulnerabilities,” says Menz.
“Prevalent is uniquely positioned as the market-leading authority on third-party risk and vendor threat management,” says Jim Douglass, partner, Fulcrum. “The technology innovation and services excellence delivered by Prevalent are second to none. Our plan is to infuse the business with working capital to build on its brand promise and become the uncontested leader in third-party risk and vendor threat management.”
