Netwrix Corporation, the first vendor to introduce a visibility and governance platform for hybrid cloud security, today announced that it has secured Series A financing from Washington, DC-based Updata Partners, a leading technology growth equity firm. Netwrix will leverage this investment to continue its rapid market momentum and revenue growth, to support product development and to further penetrate its core markets.
Updata Partners will work closely with the Netwrix team to enhance efforts in delivering superior products and service to Netwrix customers by scaling core business operations, expanding into new markets, and further developing Netwrix Auditor – the leading visibility and governance platform for hybrid cloud IT environments.
“Establishing a partnership with Updata marks a completely new milestone in Netwrix’s history,” said Michael Fimin, CEO and co-founder of Netwrix. “In the world where sophisticated cyber-attacks grow exponentially, we have been doing our best to help IT pros gain visibility into their IT infrastructures and to mitigate the risk of data breaches. I am confident that the support from Updata will help Netwrix accelerate expansion and strengthen our positions as a leader in the security and compliance field.”
“Updata partners focus on high-potential businesses with a proven track record of success, and we are happy to invest in a company that empowers organizations – regardless of size or industry – to tackle security threats," said Jon Seeber, General Partner at Updata Partners. "The Netwrix team has done a tremendous job addressing some of the most burning issues facing IT pros worldwide, and Updata is looking forward to adding additional firepower to help Netwrix boost its performance and to maintain its impressive growth trajectory.”