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Proficio Secures New Round of Funding Led by Kayne Capital

Proficio, one of the world's fastest-growing global managed security service providers (MSSP) delivering managed detection and response (MDR), has closed a second round of funding led by Kayne Anderson Capital Advisors, L.P., a leading alternative investment management firm, bringing the firm's total investment in Proficio to more than $20 million. The funding comes out of the firm's Kayne Partners Fund group, which backs high-growth technology-enabled businesses.

Proficio plans to use this investment to launch new solutions to its expanding roster of global clients, and bolster its award-winning SOC-as-a-service and SIEM-as-a-service offerings. In 2017, Proficio grew its presence in the cybersecurity space and positioned itself as an industry-leading service provider. The company expanded its established North American presence, expanded global operations in Singapore and Australia, and opened a new security operations center (SOC) in Barcelona, Spain.

Looking to 2018, Proficio plans to continue its accelerated growth in key regions and globally by meeting the cybersecurity needs of organizations worldwide.

"The Kayne team continues to be impressed by Proficio's customer and revenue growth. The momentum over this past year further validates Proficio's strong managed detection and response services providing mission critical cybersecurity services to mid-market companies and large enterprises," said Nate Locke, partner at Kayne Partners Fund group. "Since our initial investment, Proficio has continued to expand internationally and we are excited by the European growth stemming from the company's Barcelona security operations center. We are excited to help Proficio continue its strong trajectory."

Tim McElwee, co-founder, president and chairman of the board of Proficio stated, "We are ecstatic to further our partnership with Kayne Capital to increase the velocity of Proficio's international success. The funding will allow us to rapidly expand our global presence in Asia Pacific and Europe as well as deliver a number of enhancements to our SOC-as-a-service platform." McElwee continues, "What's made Proficio successful is our dedication to clients and a commitment to innovation. Kayne's additional investment helps accelerate that innovation and cement our position as a global market leader."

Published Friday, December 15, 2017 8:28 AM by David Marshall
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Comments
marieweaver - (Author's Link) - December 16, 2017 12:44 AM

helpful information sharing.

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