(Photo by Stephen Babcock)
Inner Harbor-based investment firm ABS Capital Partners led a $23 million Series A for cybersecurity company deepwatch, the company said Wednesday.
deepwatch, a four-year-old company based in St. Petersburg, Fla., provides managed security services, meaning businesses work with the company to run security operations. Businesses often look to these firms in lieu of standing up an in-house cybersecurity team.
The funds will allow deepwatch to accelerate R&D on its security analytics platform, as well as outreach to customers.
With the deal, ABS Capital Partners Venture Partner Michael Avon will join the deepwatch board.
“deepwatch has developed an innovative security operations platform as evidenced by its very impressive growth and momentum,” Avon, the former CFO of Millennial Media who also founded ICX Media, said in a statement. “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.”
ABS Capital Partners typically invests in later-stage growth companies.-30-
Protenus raises $17M in Series C funding round
NextStep Robotics receives $1M through NIH agreement
Power Moves: Leadership changes at CAMI and Maryland Momentum Fund
What Asymmetrik is doing to help lead healthcare’s digital transformation
clean.io releases data behind malicious ads
Water bills are being issued in Baltimore for the first time since the May ransomware attack
VitusVet gets investment from Nationwide Insurance
Verizon is looking for the brightest ideas on how to use its 5G technology
Sign-up for daily news updates from Technical.ly Baltimore