WARREN, N.J., Jan. 22, 2016 /PRNewswire/ -- Prevalent Inc. ("Prevalent"), a leader in vendor risk management and cyber threat intelligence analytics, announced last week it has raised $8 million in Series B financing from Fulcrum Equity Partners and Spring Mountain Capital. The round augments a 2014 Series A round by Fulcrum Equity Partners. The funds will be primarily invested in growing Prevalent's sales and marketing organization, which is focused on selling its proprietary software products and related services, along with continued software development.
"We're excited and honored to partner with Fulcrum Equity Partners and Spring Mountain Capital to continue our growth strategy," said Jonathan Dambrot, CEO and co-founder of Prevalent. "We're also excited to welcome Jamie Weston, partner at Spring Mountain Capital, to our board of directors."
"Last year was a record year for us and with this new funding, we're well positioned to rapidly expand our global reach and accelerate the development of our leading software and threat intelligence platform," added Norman Menz, CTO and co-founder of Prevalent.
Founded in 2004, Prevalent is a leader in third-party risk management and continuous threat intelligence monitoring, providing solutions that companies use to monitor and assess the IT risks posed by their vendors and third parties. Prevalent's software allows companies to more efficiently manage the vendor assessment process and gain more objective, contextualized and real-time information on their vendors. Gartner recently named Prevalent a Visionary for IT Vendor Risk Management.
"We're very pleased to back the world-class team at Prevalent as they continue on their strong growth trajectory," said Jim Douglass, partner at Fulcrum. "We look forward to the company's innovative advancements in 2016 and beyond."
Prevalent is a vendor risk management and cyber threat intelligence analytics innovator with a reputation for developing cutting-edge technologies and highly-automated services that are proven to help organizations reduce, manage and monitor the security threats and risks associated with third and fourth party vendors. For more information regarding Prevalent, visit www.prevalent.net.
About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm focused on providing expansion capital to rapidly growing companies. Fulcrum targets companies that are looking to raise $5 million - $15 million and will consider $2 million - $3 million initial investments in companies that expect to raise additional capital over time. Fulcrum will consider investments in a wide variety of industries with an emphasis on information technology, healthcare and technology enabled operating companies. Fulcrum provides financing to meet a wide range of needs including internal growth initiatives, acquisitions, divestures, shareholder liquidity and recapitalizations. The partners have over 125 years of relevant experience, including operations, venture capital, mezzanine financing, accounting, law, investment banking and strategy consulting. To learn more, please visit www.fulcrumep.com.
About Spring Mountain Capital
Founded in 2001 and located in New York City, Spring Mountain Capital, LP ("SMC") is a private investment management firm that focuses on alternative asset investing. SMC's Private Equity Group provides expansion stage capital to lower middle market companies that are capitalizing on breakthrough innovations, paradigm shifts or fundamental market or behavioral changes. The Private Equity Group at SMC focuses on two sectors of the U.S. economy with the most change and highest growth potential: technology-enabled and healthcare businesses. Within these high-growth areas, it seeks to make value investments by capitalizing on market dislocations, information asymmetry, illiquidity, and complexity. For more information, visit: www.springmountaincapital.com.
SOURCE Fulcrum Equity Partners