Total amount raised
$256 Millions
Latest funding date
02/01/2023
Location
Deepwatch has successfully raised over $200 million in growth capital through multiple funding rounds, with the most recent being a Series C round closed on February 15, 2023. The company is backed by prominent investors, including Goldman Sachs, Vista Equity Partners, ABS Capital, Pario Ventures, and Springcoast Capital Partners.
Keep reading to explore the intricacies of Deepwatch's fundraising journey and the investors backing this innovative cybersecurity platform.
What Is Deepwatch?
Deepwatch, founded on April 2, 2019, is a cybersecurity company based in Tampa, Florida. The company was established by Justin Morehouse and operates within the cloud security, cybersecurity, and information technology industries.
With a workforce of 251-500 employees, Deepwatch secures the digital economy by protecting enterprise networks through its cloud security platform. The company serves Global 2000 companies and offers a range of managed security services, including threat detection and response, vulnerability management, and firewall management.
How Much Funding Has Deepwatch Raised?
- Series A
- Amount Raised: $23M
- Date: April 2019
- Lead Investors: ABS Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and develop its initial cybersecurity platform.
- Series B
- Amount Raised: $53M
- Date: October 2020
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's managed security services and enhance its threat detection capabilities.
- Series C
- Amount Raised: $180M
- Date: February 2023
- Lead Investors: Vista Credit Partners, Springcoast Capital Partners, Splunk Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To push product development, grow partnerships, and enhance threat analytics.
Total Amount Raised: $256M. Current Valuation: Not publicly disclosed.
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Uber, Facebook, Spotify.
- Vista Equity Partners
- Details: Vista Equity Partners is a prominent investment firm that focuses on enterprise software, data, and technology-enabled businesses. It offers capital and strategic support to help companies grow.
- Investment Focus Areas: Enterprise software, data, technology-enabled businesses.
- Notable Investments: Marketo, Ping Identity, Datto.
- ABS Capital Partners
- Details: ABS Capital Partners is a growth equity firm that invests in later-stage growth companies. It provides capital and strategic guidance to help companies scale.
- Investment Focus Areas: Later-stage growth companies, technology, healthcare.
- Notable Investments: Rosetta Stone, Alarm.com, DoubleVerify.
- Springcoast Capital Partners
- Details: Springcoast Capital Partners is a private investment firm. Specific details about the firm are not widely disclosed.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
- Splunk Ventures
- Details: Splunk Ventures is the corporate venture arm of Splunk Inc., focusing on investments that align with Splunk's mission to make data accessible, usable, and valuable.
- Investment Focus Areas: Data analytics, cybersecurity, technology.
- Notable Investments: Not specified.
What's Next for Deepwatch?
Deepwatch stands at the cusp of significant growth opportunities, driven by the increasing demand for advanced cybersecurity solutions. With a recent $180 million funding round, the company is well-positioned to enhance its platform, expand partnerships, and innovate in threat analytics and security scoring. The shift to cloud and digital platforms further amplifies the need for Deepwatch's services, presenting a vast market potential.
Future fundraising opportunities appear promising as the company continues to grow and innovate. The potential for additional rounds of funding or even an IPO could support further expansion and technological advancements. However, Deepwatch may face challenges such as intense competition from other cybersecurity firms and the need to keep pace with rapidly evolving cyber threats. Balancing rapid growth with maintaining high service quality will be crucial for sustained success.
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