Apptega Secures $15M to Enhance MSP Security and Compliance Solutions

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DateMay 3, 2024

Provider of end-to-end cybersecurity compliance platforms, Apptega, has secured $15 million in growth capital through a mix of third-party debt and growth equity. The funding was led by Mainsail Partners, a growth equity firm known for investing in rapidly expanding software companies. This investment aims to further Apptega’s mission to transform how managed service providers (MSPs) deliver security and compliance.

The investment would expedite the development of Apptega’s continuous security and compliance platform, one of the few specifically designed for service providers, including MSSPs and MDR companies. Apptega‘s offering empowers these providers to offer real-time security and compliance scoring that meets stringent industry and regulatory standards.

The company’s R&D efforts are increasingly focusing on incorporating artificial intelligence (AI) into the platform, enabling managed service firms to deliver security and compliance insights more efficiently and with better profit margins.

Apptega’s CEO, Dave Colesante, a cybersecurity veteran who joined the company in November, emphasized the unique approach they’re taking to address the specific needs of managed service providers. He noted that few, if any, other companies tailor their compliance software to the demands of MSPs, which require tools to handle multiple client challenges and quantify the often elusive value of security services. He believes the investment will not only enhance their software but also provide the tools and strategies MSPs need to differentiate themselves in the market and grow their recurring revenue.

Continuous Compliance Solutions

The funding announcement comes amid a period of rapid growth for Apptega, which has been recognized as a leader in G2’s Security Compliance Software category for 12 consecutive quarters. In recent months, the company has expanded its leadership team with cybersecurity experts from leading managed services companies like eSentire, Securonix, and Alert Logic. This infusion of expertise has guided Apptega’s vision of helping managed service and security providers deliver continuous compliance solutions that can drive revenue and enhance client retention. 

David Farsai, a partner at Mainsail Partners and an Apptega board member, expressed his confidence in the company’s product vision and ability to consistently deliver market-leading software that serves businesses of all sizes, including the many MSPs and security providers that rely on it daily.

Apptega offers a comprehensive compliance platform designed specifically for managed service and security providers. Its platform would enable these providers to:

Offer continuous compliance solutions, from assessments to audits, designed to increase revenue, margins, and client retentionStandardize their cybersecurity services to align with frameworks like SOC 2, PCI, CMMC, and ISO 42001Turn advisory services into long-term customer relationships

The U.S. company from Atlanta, Georgia, would count many established MSPs as partners and serve thousands of global brands, helping them accelerate compliance through automation and AI-driven insights. Apptega was recently ranked #234 on the Inc. 5000’s 2022 list of fastest-growing private companies, and this latest funding from Mainsail Partners reflects confidence in their continued growth and innovation.

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