The Riverside Co has invested in Spirion LLC. Financial terms weren’t announced. Spirion, of St. Petersburg, Florida, provides sensitive data risk reduction solutions.
ST. PETERSBURG, Fla., April 17, 2018 /PRNewswire/ — The Riverside Company, a private equity investment partner, today announced a strategic equity investment in Spirion, LLC (www.spirion.com). Since 2006, Spirion has been leading the industry with enterprise data-centric audit and protection software focused on accurately discovering, classifying, monitoring and protecting sensitive information. Spirion has been pioneering the identification of sensitive data whether on devices or in the cloud through an open architecture that protects data wherever it exists. The company helps thousands of organizations mitigate breaches and compliance issues by finding and protecting sensitive data with unparalleled accuracy – critical data such as personal information, medical records, credit card accounts, and intellectual property stored across the enterprise and cloud.
“IT security is an ever-growing concern for any company,” said Riverside Managing Partner Loren Schlachet. “A single event can cost untold millions and permanently damage a company’s reputation, so an outstanding product like Spirion’s is compelling. Spirion has a proven track record of protecting sensitive data, meeting compliance needs helping companies avoid costly fines and data loss – all while protecting their customers’ information.”
“We look forward to working with Riverside, leveraging talent and investments that will enable us to pursue our continued growth strategy,” said CEO AG Crum. “We will be able to accelerate the expansion of our product capabilities, increase staff to support our rapidly growing customer base, and substantially broaden our partnership opportunities with companies providing complementary product offerings,” AG adds.
According to Gartner Research Directors Brian Lowans and Marc Muenier, et al., in the March 2017, Market Guide for Data-Centric Audit and Protection report strategic planning assumptions show that “by 2020, data-centric audit and protection products will replace disparate siloed data security tools in 40% of large enterprises, up from less than 5% today.”
AG describes, “In today’s market, data breaches repeatedly prove the criticality of data inventory and security. Accurately locating an organization’s sensitive data is the foundation for an effective data security strategy. Every large organization we work with has been challenged with disparate security products, policies, management and enforcement that focus on sensitive data and fail at the point of egress.”
“There’s a good reason our customers have not been mentioned in the proliferation of data breach news—Spirion successfully prevents the loss of their most valuable information assets,” AG explains. “We do this by accurately discovering where all their sensitive information exists so that they know their risk posture at any point in time and can classify, monitor, and protect it throughout the data life cycle. All of it, anywhere—structured or unstructured data, on a network or cloud. And, we do it in a non-intrusive way leveraging our customers’ existing IT infrastructure and investments,” AG adds.
About Spirion, LLC Spirion is the leading provider of sensitive data risk reduction solutions. Spirion accurately finds all sensitive data, anywhere, anytime and in any format on endpoints, servers, fileshares, databases and in the cloud with unparalleled accuracy. Spirion has thousands of customers among leading firms in the healthcare, public sector, retail, education, financial services, energy, industrial, and entertainment markets. For more information, visit www.spirion.com.
The Riverside Company The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 520 transactions. The firm’s international portfolio includes more than 75 companies.