iboss Cybersecurity Announces $35 Million Investment From Goldman Sachs in Series A Funding Round
SAN DIEGO, November 3, 2015 — iboss, provider of iboss cloud, a leading cloud-based internet security platform, announces its Series A funding round with a $35 million investment from Goldman Sachs’ Private Capital Investing group. Unlike many other companies in the cybersecurity industry, iboss has benefited from tremendous growth, while also remaining profitable since its inception.
The new financing will allow iboss to aggressively develop groundbreaking technology, including the rollout of its next-generation cloud platform, while continuing to expand globally. Goldman Sachs will hold a minority stake in iboss and Stephen Kerns, Vice President in Goldman Sachs’ Private Capital Investing group, will be joining the board.
Built for the cloud and border-less organizations, the iboss cloud delivers Internet security in the cloud as a SaaS solution. It solves the challenges related to the cloud-first future including user mobility and exponential bandwidth growth due to applications moving to the cloud by leveraging the cloud to deliver infinite capacity for Internet security.
“This funding from Goldman Sachs will provide significant resources for expanding research and development into new technologies along with international expansion,” said Paul Martini, CEO of iboss. “We’ve been profitable since we launched and after growing by reinvesting our profits, this is the right time to accelerate our expansion with outside funding.”
“We are pleased to support the company as it embarks on its next stage of growth,” said Hillel Moerman, Co-Head of Goldman Sachs’ Private Capital Investing group.
iboss also recently invested $13 million to open a new global headquarters in San Diego that will include a state-of-the-art threat research center to identify new malware and viruses that threaten computer networks. iboss has been advised during this expansion by the investment banking firm, Needham and Company, LLC.
Over the past three years, iboss has grown by more than 1800% and was named one of the fastest growing technology companies by Deloitte in 2014. Co-founders Paul and Peter Martini were also recognized with the 2014 Ernst & Young Entrepreneur of the Year Award. The firm’s wide range of enterprise clients include Xerox, Sears, Urban Outfitters and the U.S. Department of the Interior.
iboss is a cloud security company that provides organizations secure access to the Internet and their applications on any device, from any location, in the cloud. Leveraging a purpose-built cloud architecture backed by 110 patents and patents-pending and over 100 points of presence globally, iboss protects more than 4000 organizations worldwide in the cloud eliminating the need for legacy on-prem appliances. To learn more, visit www.iboss.com.