Newlight Partners made a strategic investment in cybersecurity company Pondurance. The company also named Doug Howard as chief executive officer and Niloofar Razi Howe as chair of Pondurance’s board.
Pondurance, a leader in Managed Detection and Response (MDR) services, today announced a new strategic investment from affiliates of Newlight Partners LP (“Newlight”), a private investment firm. Proceeds from the investment will support Pondurance’s growth in the rapidly expanding MDR market, drive its R&D and innovation capabilities, and bolster its leadership team.
Pondurance also today announced the appointment of Doug Howard as Chief Executive Officer and Niloofar “Niloo” Razi Howe as Chair of Pondurance’s Board of Directors. Mr. Howard brings decades of cybersecurity executive leadership across products and services, and most recently joined from RSA Security where he led Global Services, IT Innovation and Business Transformation. Ms. Howe adds deep industry and Board experience from software and security companies including RSA, Endgame and Recorded Future. Pondurance’s founders and existing leadership team, including Ron Pelletier, Landon Lewis, Dustin Hutchison and Cathy Iacobucci, will remain with the business.
“Pondurance is a deeply trusted cybersecurity services firm that is extremely well poised for growth in a rapidly evolving market as customers address ransomware, compliance and digital transformation” said Adam Stulberger, Partner at Newlight. “We are excited to work alongside Doug and Niloo to build an enduring business, expand its capabilities and geographic footprint, and execute on the numerous opportunities we’ve identified for organic growth and strategic M&A.”
“Never before have MDR services been so important to such a vast set of customers,” added Mr. Howard. “Pondurance’s intelligent threat detection and response platform and growing team of talented experts make an unbeatable combination. We are eager to leverage Newlight’s resources and expertise to accelerate our ambitious growth plans and deliver higher levels of customer value.”
“Pondurance unites the newest innovations in advanced detection and intelligence with the deep talents of world class analysts,” said Ms. Howe. “We will meet this important moment for our customers, and I’m thrilled to be a part of it.”
About Newlight Partners LP
Newlight Partners LP is a private investment firm focused on collaborating with management teams and strategic investors to build unique, durable businesses, predominantly in North America. For more than 15 years, the Newlight team has helped build successful enterprises in five sectors, including financial services, telecommunications, power and infrastructure, healthcare services and business services. Led by David Wassong and Ravi Yadav, the Newlight team has invested approximately $6 billion in over 100 investments since 2005, first as the Strategic Investments Group at Soros Fund Management LLC (Soros), and now as Newlight after the team’s spin out from Soros in 2018. Newlight has approximately $4 billion in capital commitments and assets under management.
For more information, please visit www.newlightpartners.com.
Founded in 2008, Pondurance delivers world-class managed detection and response services to industries facing today’s most pressing and dynamic cybersecurity challenges including ransomware, increasingly complex compliance requirements and digital transformation accelerated by a distributed workforce. By combining our advanced threat intelligence platform with our experienced team of analysts we continuously hunt, investigate, validate and contain threats so your own security team can focus on the attacks that matter.
Pondurance experts include seasoned security operations analysts, digital forensics and incident response professionals and compliance and security strategists provide always-on services to customers seeking broader visibility, faster response and containment and more unified risk management for their organizations. Visit www.pondurance.com for more information.