Sverica Capital Management LP has made an investment in Pennsylvania-based DeFY Security, a provider of cybersecurity solutions. No financial terms were disclosed.
San Francisco, California – November 17, 2020 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made a strategic investment in DeFY Security (“DeFY” or the “Company”). Founded in 2017, DeFY has grown rapidly and is one of the largest pure play cyber security solutions providers in North America. Sverica has prior experience scaling a company in the cybersecurity sector, as the former majority owner of Accuvant, which then merged with FishNet Security to form Optiv Security and was ultimately sold to KKR in 2017.
DeFY partners with best-in-class and emerging cybersecurity technology vendors to build tailored security programs for its clients, which include leading enterprises in the financial services, healthcare, manufacturing, and retail verticals throughout the United States. DeFY provides front-end consultation and assessment services, as well as integration, testing, and support services across a wide variety of security technologies.
“The DeFY team is excited to announce our partnership with Sverica as we continue to drive growth with a strategic investor who has experience in cybersecurity. We have established a great long-term relationship with the Sverica team dating back to their investment in Accuvant, and are excited to be working with them again as we endeavor to build a best-in-class cybersecurity solutions provider”, said Justin Domachowski, Founder and CEO of DeFY. Domachowski will continue to lead the Company, while Frank Young, Managing Partner at Sverica, and Michael Dougherty, Vice President at Sverica, will join DeFY’s Board of Directors as part of the transaction. David Roshak, the former CFO of Accuvant and Optiv, will also be joining the Board as an Independent Director.
“In just a few short years, Justin and the DeFY team have rapidly built a successful business and developed extremely strong customer relationships with a number of leading enterprises. We look forward to partnering with Justin and DeFY to help guide the Company through continued growth and national expansion”, said Frank Young, Managing Partner at Sverica.
Michael Dougherty, Vice President at Sverica, added “We believe DeFY is well-positioned to capitalize on the continued positive tailwinds in cybersecurity. The landscape of technologies and threats is evolving daily and increasing in complexity. DeFY can help enterprises navigate this environment to build robust security programs, as well as expand the reach and effectiveness of its technology partners.”
About DeFY Security
DeFY is a leading cybersecurity solutions provider based outside of Pittsburgh, Pennsylvania. DeFY partners with top cybersecurity technology vendors to deliver solutions that meet the needs of enterprise clients across a variety of industries. Founded in 2017, DeFY has rapidly grown to become a leader in the space. For more information, please visit https://www.defysecurity.com/.
About Sverica Capital Management
Sverica Capital Management is a leading growth-oriented private equity firm that has raised over $1.1 billion across five funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a “business builder” approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant internal time and resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for our investors. For more information, please visit www.sverica.com.