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Goldman invests $35 mln in cybersecurity company iboss

Goldman Sachs Private Capital Investing group invested $35 million in
iboss, a cybersecurity company.
Stephen Kerns, vice president in Goldman Sachs’ Private Capital Investing group, will join iboss’ board.

Press Release

iboss, a leading cybersecurity company, announces its Series A funding round with a $35 million investment from Goldman Sachs’ Private Capital Investing group. Unlike many other companies in the cybersecurity industry, iboss has benefited from tremendous growth, while also remaining profitable since its inception.

The new financing will allow iboss to aggressively develop groundbreaking technology, including the rollout of its next-generation cloud platform, while continuing to expand globally. Goldman Sachs will hold a minority stake in iboss and Stephen Kerns, Vice President in Goldman Sachs’ Private Capital Investing group, will be joining the board.

With the only technology that prevents hackers from stealing sensitive information by detecting suspicious network traffic movement, iboss instantly stops malicious data transfers. By actively monitoring all network traffic, iboss can prevent large-scale data breaches caused by malware that has made its way into the network and is poised to steal data.

iboss is in the process of introducing it’s next-generation direct-to-cloud Secure Web Gateway Platform that will deliver all the features of its award-winning solution, without expensive servers or time-consuming product downloads. As a pure cloud solution with infinite scalability, iboss Cloud minimizes costs, while reducing the resources needed to manage the platform, making it the ideal cybersecurity solution for large and distributed, global organizations.

“This funding from Goldman Sachs will provide significant resources for expanding research and development into new technologies along with international expansion,” said Paul Martini, CEO of iboss. “We’ve been profitable since we launched and after growing by reinvesting our profits, this is the right time to accelerate our expansion with outside funding.”

“We are pleased to support the company as it embarks on its next stage of growth,” said Hillel Moerman, Co-Head of Goldman Sachs’ Private Capital Investing group.

iboss also recently invested $13 million to open a new global headquarters in San Diego that will include a state-of-the-art threat research center to identify new malware and viruses that threaten computer networks. iboss has been advised during this expansion by the investment banking firm, Needham and Company, LLC.

Over the past three years, iboss has grown by more than 1800% and was named one of the fastest growing technology companies by Deloitte in 2014. Co-founders Paul and Peter Martini were also recognized with the 2014 Ernst & Young Entrepreneur of the Year Award. The firm’s wide range of enterprise clients include Xerox, Sears, Urban Outfitters and the U.S. Department of the Interior.

About iboss Cybersecurity

iboss Cybersecurity defends today’s large, distributed organizations against targeted cyber threats which lead to data loss, with the iboss next-gen Secure Web Gateway Platform, leveraging innovative cloud architecture and patented advanced threat defense technologies. iboss advanced solutions deliver unparalleled visibility across all inbound/outbound data channels, and include security weapons that reveal blind spots, detect breaches and minimize the consequences of data exfiltration. With leading threat protection and unsurpassed usability, iboss is trusted by thousands of organizations and millions of users. Visit www.iboss.com

About Goldman Sachs Private Capital Investing

Private Capital Investing (“PCI”) is Goldman Sachs’ investment platform dedicated to providing junior capital to growth and middle market companies throughout North America. PCI invests $20 million – $150 million per transaction in the form of common, preferred, and structured equity. Contact: pci@gs.com