Egress Secures $40 Million Growth Equity Funding Led by FTV Capital
Global private equity firm specialising in high-growth companies invests in Egress to accelerate global expansion.
Egress, a leading provider of data privacy and compliance services designed to secure unstructured data, today announced it has raised $40 million in a Series C financing round from FTV Capital, with continued participation from existing backer AlbionVC. Egress will use this investment to build on its ongoing rapid growth in Europe and North America, as well as accelerate development of new technology across its data security platform.
A market leader in privacy and risk management, Egress helps enterprises protect unstructured data to meet compliance requirements and drive business productivity. The company’s AI-powered platform enables users to control and secure the data they share in line with evolving compliance regulations, including GDPR, the NYDFS Cybersecurity Regulation (23 NYCRR 500), and the recently-passed California Consumer Privacy Act. Since raising $3.6 million in Series A funding in February 2014, Egress has grown ARR by 9x, acquired over 2,000 customers and now supports more than five million users globally.
Egress helps enterprises protect unstructured data to meet compliance requirements and drive business productivity. The company’s AI-powered platform enables users to control and secure the data they share.
The award-winning platform provides email and document classification, accidental send prevention, email and file protection, secure online collaboration and audit and compliance reporting.
Trusted by enterprise organisations and governments around the globe, Egress offers a seamless user experience, powerful real-time auditing and patented information rights management, all accessible via a single global identity.
strong>Egress is headquartered in London, with other regional UK centres and North American offices in Boston and Toronto.
About FTV Capital
Celebrating its 20 year anniversary, FTV Capital is a growth equity investment firm that has raised over $2.7 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology & services, financial services and payments & transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in 107 portfolio companies including compliance/security and managed services companies such as A-LIGN, Aveksa (acquired by EMC), KVS (acquired by Veritas), ReliaQuest and Trustwave (acquired by Singapore Telecom). FTV has offices in San Francisco and New York. For more information, visit www.ftvcapital.com.
AlbionVC is the technology investment arm of Albion Capital Group LLP. The technology team invests from seed through to Series B in high growth companies, predominantly in the UK, with a particular focus on B2B software and technology enabled services. Albion has 20+ years’ experience investing in technology, has c.£450m FUM in technology companies and over 40 tech investments within its portfolios.