Drawbridge, a provider of cybersecurity software and solutions to the financial services industry, announced a growth investment from Francisco Partners, a global investment firm that “specializes in partnering with technology businesses.”
Existing investor Long Ridge and Drawbridge’s leadership team will “remain significant equity holders in the company.”
Founded in 2018, Drawbridge has “created an … all-in-one platform which allows financial services firms to rapidly deploy, manage, and continuously optimize a holistic cybersecurity program.”
The company’s proprietary technology platform “helps firms navigate the evolving regulatory and threat landscape, manage governance, risk and compliance (GRC) requirements, and combat sophisticated cyber threats.”
Drawbridge has “recorded rapid and consistent global growth since its inception and is now relied on by over 900 funds in the alternative investment industry to build and maintain their critical cybersecurity programs.”
The new investment from Francisco Partners will “help drive Drawbridge’s continued expansion and product development to best serve customers across private equity, hedge fund, venture capital, and other industries.”
Jason Elmer, Drawbridge Founder and CEO, said:
“We are thrilled to announce this new investment from Francisco Partners which will allow us to accelerate our technology innovation and continuously focus on customer success. Drawbridge was founded to provide financial services firms with the state-of-the-art software and solutions they need to simplify and manage the complex and evolving cyber risk landscape.”
Jason added:
“The industry is facing increased cyber threats and escalating due diligence demands, and this new investment will enable Drawbridge to provide an even greater level of support to our customers.” Scott DePetris, Drawbridge President and COO, added: “We are excited about the new partnership with Francisco Partners and are looking forward to further enhancing our leading offering across an expanding customer base.”
Peter Christodoulo, Partner at Francisco Partners, said:
“Jason and Scott have done an exceptional job building Drawbridge’s market-leading platform and have shown an impressive dedication to solving customers’ critical cybersecurity and compliance needs. We are very excited to partner with Long Ridge and the Drawbridge team to accelerate growth and continue to drive innovation in the sector.”
The transaction was “completed on September 1st.” Financial terms are “not being disclosed.”
Raymond James served “as financial advisor” and Faegre Drinker Biddle & Reath served “as legal advisor to Drawbridge.” Kirkland & Ellis LLP served “as legal advisor to Francisco Partners.”
