Prevalent has closed $4 million in funding from Fulcrum Equity Partners. Prevalent’s CTO and co-founder Norman Menz and CEO and co-founder Jonathan Dambrot will remain in their positions. Headquartered in Warren, NJ, Prevalent is a provider of third-party risk and vendor threat intelligence solutions.
WARREN, N.J.–(BUSINESS WIRE)–Prevalent, the third-party risk and vendor threat intelligence innovators, today announced it has received a $4 million strategic growth equity investment from Fulcrum Equity Partners (“Fulcrum”), a leading private equity firm headquartered in Atlanta, GA.
The investment funds will be used to grow and expand Prevalent’s sales, marketing and technical teams, as well as advance its industry-leading 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 within highly regulated organizations adhere to compliance requirements and industry standards. Under the new agreement, the company’s CTO and Co-Founder Norman Menz and CEO 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.
Founded in 2004, Prevalent is a top-rated vendor risk and cyber threat intelligence innovator. Serving the needs of Fortune 1,000 organizations, as well as the needs of small and midsize businesses, Prevalent has earned a reputation for developing cutting-edge technologies and highly automated services that are proven to help organizations reduce, manage and monitor the security threats and risks associated with third-party vendors.
“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.”
Earlier this year at RSA 2014, Prevalent introduced its market leading vendor threat intelligence platform, Vendor Threat Monitor™ (VTM). The new platform works in concert with Prevalent’s Vendor Risk Manager (VRM)TM. Together the two complementary technologies allow organizations and IT professionals to continuously and proactively monitor key threat vectors from third-party providers across several relationship risk areas including data risk, operational risk, financial risk and brand risk.
“We are thrilled to earn the trust and investment of Fulcrum and have already laid the ground work for explosive growth,” says Dambrot. “We’ve all seen the headlines. The need for a reliable and scalable third-party threat monitoring and risk management platform is unquestionable, which is why vendor threat monitoring and third-party risk management remain white hot topics that are top of mind with CXOs and data-driven businesses.”
For more information regarding Prevalent visit www.prevalent.net; email [email protected]; or call 877-PREVALENT. Prevalent will also be attending the 2014 Gartner Security and Risk Management Summit June 23 – 26 in Washington DC.
About Fulcrum Equity Partners
Fulcrum Equity Partners, based in Atlanta, GA, is a growth equity fund that manages over $140 million and is actively seeking opportunities to invest in rapidly growing companies. Fulcrum initially invests $1 million to $5 million with the ability to invest up to $10 million. We will consider investments in a wide variety of industries, with an emphasis on information technology, healthcare and technology enabled operating companies. Fulcrum provides financing to meet a wide range of needs including internal growth initiatives, acquisitions, divestitures, shareholder liquidity and recapitalizations. The partners have over 100 years of relevant experience, including operations, venture capital, mezzanine financing, accounting, law, investment banking and strategy consulting.
To learn more please visit www.fulcrumep.com.
Prevalent is a vendor risk and cyber threat intelligence innovator with a reputation for developing cutting-edge technologies and highly-automated services that are proven to help organizations reduce, manage and monitor the security threats and risks associated with third-party vendors. www.prevalent.net