After acquisition, Herndon-based Opaq Networks closes $22.5M funding round

A couple of weeks after acquiring another company, OPAQ Networks closed a $22.5 million Series B round.

The funding round for the Herndon, Va.–based cybersecurity company was led by Owings Mills, Md.–based Greenspring Associates. Existing investors including Alexandria, Va.–based Columbia Capital and Harmony Partners also participated.

A couple of weeks ago, OPAQ announced the acquisition of Baltimore-based FourV Systems and added that startup’s business intelligence capabilities. At that time, Chief Strategy Officer Ken Ammon said the company was in “go-to-market mode.” The funding will help with that effort.

OPAQ offers automated network security tools to midsize enterprise companies that may find the advanced tools or specialists employed by larger companies inaccessible. It seeks to detect and prevent threats, as well as manage security. The approach is called “security-as-a-service.”

The company raised $21 million to begin 2017, then went on to acquire a pair of companies. Earlier this year, the company said it settled on a strategy to sell its product through channel partners that in turn offer cybersecurity services to companies.

As it happens, this is the second big-money funding round for a Herndon-based cyber company to be announced this week. On Thursday, Expel announced a $20 million raise.