Drawbridge Announces Growth Equity Investment from Long Ridge Equity Partners
- Fundraising News , Investment Management , Cybersecurity
- 10.03.2021 08:33 am
Drawbridge, a premier provider of cybersecurity software and solutions to the alternative investment industry, today announced it has closed a minority investment from Long Ridge Equity Partners. Drawbridge will use the funds to accelerate product innovation, expand sales and marketing activities across North America and EMEA, and continue investing in its people, platform, and client services. The investment follows a period of dramatic growth for Drawbridge. Over 300 funds in the alternative investment industry with more than $800 billion in Assets Under Management work with Drawbridge to build and maintain their cybersecurity programs.
Founded in 2018, Drawbridge’s solution helps alternative investment managers and portfolio companies address their growing cyber security needs by centralizing the management of a comprehensive cybersecurity program. The company’s proprietary technology platform helps firms navigate the evolving regulatory and threat landscape, manage governance, risk and compliance (GRC) requirements, and combat sophisticated cyber threats. The Drawbridge platform facilitates the creation of a resilient cybersecurity program for its clients in order to improve their risk postures, meet SEC requirements, and exceed compliance and operational due diligence requirements.
Drawbridge clients can easily aggregate cyber risk assessment data to drive analysis, determine program strength and create a roadmap and task list for remediation. Firms can easily assess third-party cybersecurity risks in the Drawbridge platform, which launches Due Diligence Questionnaires (DDQs) to third-party vendors, tracks responses and completion status, and stores all critical vendor information. Drawbridge clients can continuously monitor cybersecurity risks and conduct ongoing vulnerability scanning to protect against breaches. The platform also allows clients to generate policies for Cyber & Information Security, Incident Response, Business Continuity, and Data Privacy.
“Drawbridge’s success is a testament to the investments we have made in our software, service innovation and team. We are excited to partner with Long Ridge as we embark on our next phase of expansion,” said Jason Elmer, Founder and CEO, Drawbridge. “Our commitment to customer success and technology innovation has allowed Drawbridge to continue to grow even during a period of unprecedented global challenges. We’re grateful to have a partner like Long Ridge to support us as we accelerate our momentum, introduce new functionality, and provide our clients with the best products and guidance to protect their critical systems.”
“Alternative investment firms face a challenging threat landscape and escalating LP due diligence demands that can pose significant business risks and impede growth,” said Kevin Bhatt, Managing Partner at Long Ridge. “Drawbridge offers a unique combination of cybersecurity software and services to help customers manage their cybersecurity requirements through a single technology platform while reducing security spend and complexity. The company is well-positioned for continued growth and we are excited to partner with Drawbridge’s proven team as they expand their global reach, introduce new products, and continue to grow their impressive client base.”
As part of the investment, Kevin Bhatt and Jason Melton of Long Ridge will join members of the Drawbridge executive team on the Board of Directors.