Enterprise content firewall provider Accellion on Tuesday announced that it has raised $120 million in a growth private equity round, which it will use for go-to-market initiatives, research and development, and mergers and acquisitions (M&A) plans.
Accellion’s CEO, Jonathan Yaron, told SecurityWeek that the company has so far raised $166 million.
The latest funding round was led by Bregal Sagemount.
“We are very excited to bring on Sagemount as a strategic and financial partner. Given their success investing in market-leading, high-growth software companies, we believe they are the right partner to help us create the enterprise content firewall category,” Yaron said.
He added, “Protecting data shared with third parties is a major CISO challenge. Today’s IT infrastructure has too many tools, too little governance, and produces zero visibility. With this transaction, Accellion is well positioned to accelerate acquisitions to further consolidate the sprawl of siloed applications under the enterprise content firewall.”
Accellion’s enterprise content firewall is designed to prevent breaches and compliance violations related to sharing data with third parties, such as customers, suppliers and partners. The company’s platform provides secure email, file sharing, web forms, collaboration, file transfer, content access, and enterprise app sharing capabilities.
Accellion says its products are used by over 25 million users at more than 3,000 government and private organizations around the world.