LivingBridge has made an investment in Galway, Ireland-based TitanHG, a cloud security vendor. No financial terms were disclosed.
GALWAY, Ireland, June 11, 2020 /PRNewswire/ — Livingbridge, one of the UK’s leading mid-market private equity investors, today announces its investment in TitanHQ, a fast-growing, global, cloud security vendor.
Headquartered in Galway, Ireland and with offices in Tampa, Florida, TitanHQ provides Managed Service Providers (MSPs) and businesses with advanced web filtering, email security and email archiving solutions. The company has over 20 years’ experience in the cybersecurity sector and protects over 8,500 businesses and 2,500 MSPs across 150 countries, including Virgin, O2, ViaSat, Pepsi and Datto. It has demonstrated year-on-year growth with this momentum propelling ARR to more than $15m today.
TitanHQ currently powers three secure, robust and effective security solutions: WebTitan for web security and content filtering; SpamTitan for email security and anti-malware protection; and ArcTitan for email archiving.
Livingbridge identified TitanHQ as a sector leader with a proven track record that is well-positioned to benefit from strong, growing market momentum for SaaS-based security solutions. Livingbridge’s partnership will enable TitanHQ to accelerate its ambitious growth plans through increased investment in product development and people.
The investment has been made through Livingbridge’s Enterprise 3 fund, which invests in fast growth SMEs with an enterprise value of up to £50m. Bill McCabe’s Oyster Technology Investments, which invested in TitanHQ at inception, will continue to maintain a significant stake in the business.
Nick Holder, Director at Livingbridge, said: “We are delighted to be partnering with TitanHQ, a uniquely positioned business with a well-differentiated product portfolio operating in a fast-growing, attractive market that is benefiting from strong macro tailwinds. There is a tremendous opportunity for Titan HQ to accelerate its growth trajectory over the coming years, and we look forward to working closely with the management team to fulfill the company’s potential. Their focus and dedication to the MSP community is completely aligned with our strategy.”
Ronan Kavanagh, Chief Executive Officer of TitanHQ, said: “We are excited to be taking this next step in our growth journey with Livingbridge, a partner that understands the unique strengths of our business, shares our vision for success and has the experience and resources to help us to achieve it. The recent pandemic and the growth of WFH initiatives have further highlighted the need for multiple layers of cybersecurity and our solutions form key pillars in this security strategy.”
Advisors to LivingBridge include GCA Altium (Lead Corporate Finance Advisory), Addleshaw Goddard (Legal), Fairgrove (Commercial), BDO (Financial). Oppenheimer & Co. acted as exclusive financial advisor to the shareholders of TitanHQ.
TitanHQ is a 20-year old multi-award-winning web filtering, email security and email archiving SaaS business. We protect 8,500 businesses and work daily with over 2,500 MSPs. We protect your customers from malware, ransomware, phishing, viruses, botnets and other cyber threats.
Most importantly our products were built from the ground up with MSPs for MSPs. We save MSP’s support and engineering time by stopping problems at source while also providing ideal products to sell in your technology stack.
Livingbridge is a mid-market private equity firm with offices in the UK, the U.S. and Australia, investing in fast-growing companies valued up to £200m.
Our team has been backing growing businesses together for 20 years. We’ve done it over 150 times, turning many into household names both at home and abroad. We get growth.
We understand the people behind growing companies in consumer markets; healthcare and education; technology, media and telecommunications; financial services and business services, and help them achieve what’s right for them and their business.