AlgoSec Closes $36M Investment from Claridge IL
January 03 2018 - 8:30AM
AlgoSec, the leading provider of business-driven security policy
management solutions, today announced a US$36M investment by
Claridge IL, a growth technology investment partnership
between CDPQ - one of the largest institutional
investors in North America with net assets of over US$220 Billion,
and Claridge Inc. the Stephen R. Bronfman Family Office. This
is the first external investment in AlgoSec, following a decade of
consistent growth and profitability. The Company has, over the
years, delivered its market leading solution to over 1,500
enterprise customers globally and employs over 350 employees
worldwide, of which 120 joined in 2017 alone.
“Companies with ambitious growth plans need experienced,
value-adding investors by their side. We are very pleased that such
a prestigious and well-respected firm such as Claridge IL is
investing in AlgoSec,” said Yuval Baron, CEO of AlgoSec. “We chose
to partner with Claridge IL over dozens of large and reputable
investors due to our shared values, priorities and views regarding
our growth strategy, together with Claridge IL’s long-term
investment approach.”
Oded Tal, Claridge IL’s Managing Partner commented, “AlgoSec has
the exact characteristics that Claridge IL is targeting in its
investments: established technological strength, industry
leadership, impressive current and future growth prospects, and all
while consistently maintaining profitability. We look forward to
working with AlgoSec’s founders, Yuval Baron, CEO and Avishai Wool,
CTO and the rest of the AlgoSec team, to further expand and grow
AlgoSec globally.” Rami Hadar, the former CEO of Allot
Communications (Nasdaq:ALLT), who recently joined Claridge IL as a
Managing Director, will join AlgoSec’s Board of Directors to
contribute his extensive entrepreneurial, operational and
managerial experience. About AlgoSec
The leading provider of business-driven security management
solutions, AlgoSec helps the world’s largest organizations align
security with their business processes. With AlgoSec users can
discover, map and migrate business application connectivity,
proactively analyze risk from the business perspective, tie
cyber-attacks to business processes and intelligently automate
network security changes with zero touch - across their
cloud, SDN and on-premise networks. Over 1,500 enterprises,
including 20 of the Fortune 50, have utilized AlgoSec’s solutions
to make their organizations more agile, more secure and more
compliant - all the time. Since its inception, AlgoSec has been
offering the industry’s only money-back guarantee.
About Claridge IL
Claridge IL is an investment firm focused on growth investments
in innovative companies with a technological advantage. The firm
was initiated through a partnership between Claridge Inc., the
Stephen R. Bronfman Family Office, one of Canada’s most reputable
family offices and private equity investors, and la Caisse de dépôt
et placement du Québec (CDPQ), a global institutional private
equity, infrastructure and real estate investor, with net assets of
over US$220 Billion (as at June 30th, 2017).
All product and company names herein may be trademarks of their
registered owners.
Contact details for press inquiries:
Media Contacts:Joanne
GodfreyAlgoSecjoanne.godfrey@algosec.com
Craig CowardContext Public
Relationscraig.coward@contextpr.co.uk+44 (0)1625 511 966
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