FairWarning Announces $60 Million Growth Investment from Mainsail Partners
The privacy and security company plans to scale its already successful data protection and governance solutions in health, wealth, and banking to deliver more customer value, faster than ever before.
CLEARWATER, Fla., June 11, 2018 /PRNewswire/ -- FairWarning today announced it has received a $60 million growth equity investment from Mainsail Partners. FairWarning provides software to protect the health, wealth, and personal information for healthcare, financial services and other businesses with the need to protect sensitive data and support compliance requirements. The company's industry-leading application security solutions provide data protection and governance for core applications, including Electronic Health Records (EHRs), Salesforce, Office 365 and hundreds of other applications.
FairWarning has remained profitable for the past 10 years, primarily focusing on customer success. This investment will be used to scale and accelerate product innovation and expand the company's focus on customer success and solving big industry challenges surrounding privacy and security.
"This capital and partnership with Mainsail will support our primary goal of delivering more value to customers faster than anyone in the industry," said Kurt Long, CEO of FairWarning. "We will invest in key areas of our business to provide more value to our customers in the health, wealth, and banking industries where we already have significant traction."
"We appreciate that Mainsail shares our customer-centric approach to growing our business, and we feel their network and extensive experience building software companies augments our team well," added Long.
Privacy is top of mind for businesses around the world, and FairWarning is focused on protecting against insider threats. The proliferation of cyber-attacks, high-profile breaches and regulatory audits have created a critical need for businesses to monitor how insiders access sensitive business information. FairWarning solutions aim to protect organizations of all sizes and around the world against data theft and misuse through real-time and continuous user activity monitoring and improve compliance effectiveness with complex federal and state privacy laws such as HIPAA, FFIEC, PCI, FINRA, SOX, FISMA and the EU General Data Protection Regulation.
"We speak with companies every day that are dealing with the challenges of protecting regulated private information, so we appreciate the importance of the problem FairWarning is aiming to solve," said Michael Anderson, partner at Mainsail Partners. "FairWarning is uniquely positioned as the only solution that handles the entire lifecycle of privacy, from insider threats protection, to investigation, compliance and reporting. We are impressed with the business that Kurt and the team have built and are excited to partner with them to deliver even greater value to their growing customer base."
In addition to Michael Anderson, Taylor McKinley, operating partner at Mainsail, and David Farsai, vice president at Mainsail, will join Kurt on the company's board of directors.
About FairWarning®
FairWarning® strives to protect the health, wealth, and personal information for everyone on Earth. The company's industry-leading application security solutions provide data protection and governance for Electronic Health Records (EHRs), Salesforce, Office 365, and hundreds of other applications. FairWarning® solutions protect organizations of all sizes against data theft and misuse through real-time and continuous user activity monitoring and improve compliance effectiveness with complex federal and state privacy laws such as HIPAA, FFIEC, PCI, FINRA, SOX, FISMA and the EU General Data Protection Regulation. FairWarning® is designed to catch people stealing your data. FairWarning was recently named the top patient monitoring solution by Black Book Market Research in their 2018 Cybersecurity User Survey. For more information on FairWarning®, visit http://www.FairWarning.com or email [email protected]
About Mainsail Partners
Mainsail Partners is a San Francisco-based growth equity firm that invests in bootstrapped software companies. For 15 years, the firm has partnered with exceptional founders and entrepreneurs across many end-markets. Mainsail has a team of experienced operating professionals to help entrepreneurs scale their businesses and accelerate growth. The firm has raised more than $750 million in committed capital. For more information, please visit www.mainsailpartners.com.
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SOURCE FairWarning
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