Acquisitions / Cybersecurity

Lookingglass acquires Goldman Sachs’ in-house cybersecurity platform

Goldman Sachs developed Sentinel in-house, and wants it to scale to the wider financial services industry. With the deal, Goldman Sachs becomes a strategic investor in Reston-based Lookingglass.

From a Lookingglass promo video. (Screenshot via Vimeo)

Reston, Va.–based cybersecurity firm Lookingglass is acquiring technology developed in-house by investment banking giant Goldman Sachs.

According to an announcement issued this week, Lookingglass is acquiring Sentinel, a platform built by Goldman Sachs engineers to manage intelligence on cyber threats and “events,” as well as an organization’s workflow. Goldman Sachs was looking to expand the platform to the wider financial services industry. With the deal, further commercialization will be under the purview of Lookingglass.

Goldman Sachs was previously a client of the cybersecurity company, which was founded in 2009.

Among younger cybersecurity product companies, there’s often talk of larger enterprise companies having the capability to develop their own technology. Here’s an example of one such product, and a role for a cybersecurity company to scale.

“The Sentinel platform is a leading example of a financial services company building an elegant solution to meet its unique needs and developing it into an industry-leading technology,” Lookingglass CEO Chris Coleman said in a statement. “As we worked with Goldman Sachs in discussing threats and intelligence-powered security operations, it quickly became apparent that acquiring Sentinel was a natural way to meaningfully advance the state of technology and help protect the wider financial services industry as well as other sectors facing greater cyber risk stakes.”

Goldman Sachs is also now a strategic investor in Lookingglass. Rana Yared, a Managing Director in the Principal Strategic Investments group, is also joining the Lookingglass board. Terms of the deal were not disclosed.

Lookingglass, which raised $26.3 million in 2017, has grown by acquisition before. In 2015, it acquired Prague-based botnet monitoring company Kleissner and Associates and deep packet processing tech CloudShield.

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