Palo Alto, California-based Accellion Inc, a provider of an enterprise content firewall, has secured $120 million in funding. Bregal Sagemount led the round.
Palo Alto, CA | April 7, 2020 — Accellion, Inc., provider of the enterprise content firewall that consolidates, controls, and secures sensitive third party communications, today announced a $120 million financing round led by Bregal Sagemount.
The Accellion enterprise content firewall protects the IP, PII, PHI, and other sensitive content that companies share everyday with suppliers, customers, and partners. By consolidating security across common 3rd party communication channels, Accellion provides total visibility and security, while simplifying IT infrastructure to reduce costs.
“We are very excited to bring on Sagemount as a strategic and financial partner. Given their success investing in market-leading, high-growth software companies, we believe they are the right partner to help us create the enterprise content firewall category,” commented Jonathan Yaron, Chief Executive Officer of Accellion. “Protecting data shared with third parties is a major CISO challenge. Today’s IT infrastructure has too many tools, too little governance, and produces zero visibility. With this transaction, Accellion is well positioned to accelerate acquisitions to further consolidate the sprawl of siloed applications under the enterprise content firewall.”
“Companies are increasingly required to choose between security and functionality when it comes to email encryption, secure file transfer, secure collaboration, MFT, and other communications with the outside world. The unique Accellion content firewall platform provides the best of both worlds,” said Michael Kosty, Founder and Partner at Bregal Sagemount. “Accellion’s market positioning has allowed it to build a unique suite of technology solutions to help companies maintain high levels of security across a rapidly evolving landscape.”
Sagemount’s investment was led by Michael Kosty, William Breskman, and Daniel Eatroff. Pillsbury Winthrop Shaw Pittman provided legal counsel to Accellion. Goodwin Procter provided legal counsel to Bregal Sagemount.
The Accellion enterprise content firewall prevents data breaches and compliance violations from sensitive third party communications. With Accellion, CIOs and CISOs gain complete visibility, compliance and control over IP, PII, PHI, and other sensitive content across all third-party communication channels, providing secure email, secure file sharing, secure mobile file sharing, enterprise app and Microsoft Office plugins, secure web forms, secure file transfer like SFTP, and enterprise workflow automation. Accellion has protected more than 25 million end users at more than 3,000 global corporations and government agencies, including NYC Health + Hospitals; KPMG; Kaiser Permanente; Latham & Watkins; National Park Service; Umpqua Bank; Tyler Technologies; and the National Institute for Standards and Technology (NIST). For more information please visit www.accellion.com or call (650) 485-4300. Follow Accellion on: LinkedIn, Twitter, and Accellion’s Blog.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with $3.5 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $40 million to $200 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance. For more information, please visit www.sagemount.com.