BlueVoyant Raises $250 Million in Series D Funding
NEW YORK, February 23, 2022 – BlueVoyant, an industry-leading internal and external cyber defense platform, announced today the close of its Series D round. Liberty Strategic Capital, a private equity firm founded and led by former U.S. Secretary of the Treasury Steven T. Mnuchin, led the $250-million round with participation from new investors as well as existing investors, including ISTARI (a Temasek company), Eden Global Partners (a New York-based growth equity investment firm), and 8VC, among others. Eden’s registered broker-dealer affiliate, Eden Global Capital Partners, served as a strategic advisor and together with Morgan Stanley as co-placement agent for the round. Secretary Mnuchin will join BlueVoyant’s Board of Directors.
This investment will enable the firm to continue deepening its advanced technical capabilities, accelerate its global expansion, and build upon a record-setting 2021 that included triple-digit growth momentum, key acquisitions, and an 80% increase in customer count. In addition, in 2021, the company increased its existing global footprint by expanding into more than 10 countries. Since 2018, BlueVoyant has grown annual recurring revenues at 117% on average.
“When we started BlueVoyant, we knew that cybersecurity was quickly becoming one of the most significant threats businesses and government agencies face, and something our team was uniquely prepared to address,” said Jim Rosenthal, CEO, BlueVoyant. “In just over four years, we have grown to more than 560 employees, and have earned the trust of more than 700 customers. The market demand we are seeing is tremendous and we see this trend accelerating as security professionals pivot to our outcomes-based cybersecurity solutions.”
Said Tom Glocer, executive chairman and co-founder of BlueVoyant: “As lead director at two Fortune 100 companies, I see the growing demand for advanced cybersecurity solutions. This demand will only grow over the coming years, and BlueVoyant is uniquely equipped to meet both the internal and external needs of organizations large and small.”
Despite an exhaustive array of cybersecurity tools available on the market, cyber defenders continue struggling to stop adversaries from stealing their intellectual property and customer data, prevent ransomware attacks, and keep their networks and business systems operational. BlueVoyant’s renowned team comes from some of the most advanced cyber defense environments in the world, including government agencies, defense, and mission-critical enterprises.
BlueVoyant’s vision is to give cyber defenders the advantage over attackers by delivering the technology, telemetry, and expertise required to defend against sophisticated cyber attacks. The company’s approach is outcomes-based and its technology is purpose-built to converge internal and external cybersecurity capabilities into a single, unified platform. All backed by elite cybersecurity experts who know how to deploy, defend, and respond.
“As cyber threats increase, BlueVoyant has positioned itself as a differentiated leader in managed detection and response, third-party cyber risk management, digital risk protection, and cybersecurity professional services,” said Secretary Mnuchin. “We’re thrilled to partner with BlueVoyant and its top-tier management team as they continue to drive growth in this critical and rapidly expanding market.”
BlueVoyant plans continued expansion of its key lines of business, which include:
- Managed Detection and Response — 24/7 detection and response inside customer networks and endpoints
- Third-Party Cyber Risk Management — supply chain and investment portfolio defense
- Digital Risk Protection — real-time visibility of the external threats
- Professional Services — mission-critical cybersecurity services