Accellion secures USD120m in financing led by Bregal Sagemount
Accellion, a provider of an enterprise content firewall that consolidates, controls, and secures sensitive third party communications, has announced a USD120 million financing round led by Bregal Sagemount.
The Accellion enterprise content firewall protects the IP, PII, PHI, and other sensitive content that companies share everyday with suppliers, customers, and partners. By consolidating security across common 3rd party communication channels, Accellion provides total visibility and security, while simplifying IT infrastructure to reduce costs.
"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," says Jonathan Yaron, Chief Executive Officer of Accellion. “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.”
“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,” says Michael Kosty, Founder and Partner at Bregal Sagemount. “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.”
Sagemount’s investment was led by Michael Kosty, William Breskman, and Daniel Eatroff. Pillsbury Winthrop Shaw Pittman provided legal counsel to Accellion. Goodwin Procter provided legal counsel to Bregal Sagemount.