ABS Capital Partners closed a $23 million Series A funding round for deepwatch, a leading provider of intelligence-driven managed security services. deepwatch will accelerate research and development for its machine learning security analytics platform and market expansion.
“Cybersecurity leaders immediately recognize deepwatch’s truly revolutionary approach to managed security services,” said Charlie Thomas CEO of deepwatch. “Cybersecurity teams are overwhelmed, and deepwatch is the answer as demonstrated by our 3,631 percent growth rate over the last three years, which places us among the Top 100 fastest growing companies.”
The company is disrupting the MSSP sector thanks to a focus on customer service and a cloud SecOps platform designed to address the systemic flaws of the industry. deepwatch delivers the managed security services that cybersecurity leaders have longed to see, including exclusive maturity models, data-centric deployment models, portability and access, named delivery squads and real-time collaboration.
“When starting vSOC, our goal was to disrupt the managed security services industry. We succeeded through our relentless focus on customers as well as providing a flexible, transparent and carefully curated platform. Our vision is to redefine the industry, realizing the promises of data analytics and machine learning for our customers,” said Justin Morehouse founder and CTO for deepwatch.
Michael Avon, a venture partner with ABS Capital Partners, will join the board of directors for deepwatch.
“deepwatch has developed an innovative security operations platform as evidenced by its very impressive growth and momentum,” Avon said. “We look forward to partnering with deepwatch as it continues to disrupt and redefine the modern managed security services industry to help its customers protect their brands and critical assets against a continuously advancing threat landscape.”
With the global MSS market projected to grow 16 percent between 2016 and 2020 to $20 billion, deepwatch is capitalizing on the increased demand for cybersecurity personnel and expertise in a complex and growing cyber threat environment.
deepwatch delivers results-driven managed security services by extending customers’ cybersecurity teams and proactively advancing their SecOps maturity. Powered by its cloud SecOps platform, deepwatch is trusted by leading global organizations to provide 24/7/365 managed security services.
About ABS Capital Partners
For nearly 30 years, ABS Capital has been investing in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence.
Our partners have decades of experience as C-level executives, investment bankers, and investors in the industries in which we invest: business and tech-enabled services and health care. This combination of experience and expertise means we have a laser-focus on the specific needs growth companies face as they look to get to the next level.
Helping transform over 125 companies through their most important stage of development, ABS continues to help unleash the potential for lasting growth. ABS Capital Partners. Here, we grow.