FTV Capital has invested $54.5 million in A-LIGN. It’s unclear how big is FTV’s stake. A-LIGN, of Tampa, Florida, provides security and compliance solutions in the form of assessments, audits and cyber risk advisory and testing services for companies ranging from small-medium sized businesses to large enterprises.
A-LIGN RAISES $54.5 MILLION GROWTH EQUITY INVESTMENT FROM FTV CAPITAL
As Cyber Risk Grows, A-LIGN Helps Businesses Meet Regulatory, Compliance and Data Privacy Mandates
TAMPA, FL — July 16, 2018 — A-LIGN, a cybersecurity and compliance solutions provider that specializes in helping businesses navigate the complexities of regulatory and business-driven security and compliance needs, today announced that it has raised a $54.5 million investment from FTV Capital. In this next phase of growth, A-LIGN will continue to invest in its industry-leading service offerings, platform features and capabilities, team expansion and longstanding commitment to customer success. As part of the transaction, FTV Capital partner Liron Gitig and managing partner Richard Garman will join the company’s board of directors.
“Evolving security frameworks and the continual release of new regulations and compliance requirements, such as GDPR, SOC I/II/III, and the recently-passed California Consumer Privacy Act, require that company executives constantly examine their data privacy practices. Organizations across all industries are conducting critical assessment and audits not only for mandated compliance, but also to deepen trust among customers and users which has a direct impact on the bottom line,” said Scott Price, CEO of A-LIGN. “As a company, we have achieved significant growth milestones, and we are proud of the strong relationships we have built with our clients. We are excited to partner with FTV, a firm that has a long history in successfully scaling companies in the risk, security and compliance space, to reach that next summit in our expansion.”
A-LIGN provides security and compliance solutions in the form of assessments, audits and cyber risk advisory and testing services for companies ranging from small-medium sized businesses to large enterprises. Recognized for its leading capabilities by groups such as Gartner, AICPA and HITRUST, A-LIGN has developed a unique methodology to deliver best-in-class assessments and expertise, helping organizations address third party risks, security controls and privacy concerns. The company also plans to continue investment into its proprietary technology platform, A-SCEND, which has received high marks by helping customers streamline the complex audit and certification process via workflow automation, document management and auditing history.
“The need for rigorous cybersecurity and compliance solutions continues to top the list of must-haves for the financial institutions in FTV’s Global Partner Network®. Scott and the team at A-LIGN are industry leaders in information security and have developed innovative best practices to ensure customers meet the most stringent privacy and compliance mandates,” explained Liron Gitig, FTV Capital partner. “The A-LIGN approach emphasizes the highest standard in work product, customer service and engagement, as well as efficient and cost-effective delivery, which is evidenced by the company’s rapid growth and impressive customer retention rates. FTV is eager to collaborate with A-LIGN through its next phase of growth.”
IT audit and risk assessment services is a rapidly expanding, multi-billion dollar market driven by substantial tailwinds, including the growing rate of cyberattacks, an increasing amount of data and business process outsourcing, as well as third party vendor and risk management. A-LIGN is focused on the four core service areas to address the critical needs of its clients:
• Compliance Assessments: SSAE 18, SOC I, II, III audits and assessments;
• Industry Specific Audits such as ISO, PCI, HITRUST, HIPAA;
• Cybersecurity Services: Penetration testing, vulnerability scanning; and
• Cyber Risk and Privacy: GDPR, CCPA, related privacy and incident planning services.
A-LIGN is one of a limited number of solution providers that can offer a consolidated approach to information technology and information security audits. A-LIGN is a HITRUST CSF Assessor firm, Qualified Security Assessor Company, Accredited ISO 27001 Certification Body, Accredited FedRAMP 3PAO and licensed CPA firm. With the ability to work with small businesses to the largest of enterprises, A-LIGN leverages its industry expertise to guide organizations towards security, compliance and privacy services that will enhance their information security to prevent cyber threats, and reduce risk, turning their security into a competitive edge. For more information, visit www.A-LIGN.com.
ABOUT FTV CAPITAL
FTV Capital is a growth equity investment firm that has raised over $2.7 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology & services, financial services and payments & transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in 102 portfolio companies including compliance/security and managed services companies such as Aveksa (acquired by EMC in 2013), ReliaQuest and Trustwave (acquired by Singapore Telecom in 2015). FTV has offices in San Francisco and New York. For more information, visit www.ftvcapital.com.