Cigital, a provider of software security services and solutions, announced today that private equity firm LLR Partners has made a $50 million equity investment in the company.
Cigital said the investment would support its growth and penetration into new verticals, but declined to comment on if 100 percent of the investment proceeds were going into the company itself, indicating that some existing shareholders could be cashing in some of their shares—something that should not be surprising given that the company has been around for longer than twenty years.
The company specializes in software security for financial services, insurance, technology, healthcare and telecom enterprises worldwide.
Headquartered just outside of Washington, D.C., Cigital was established in 1992 with funding and contracts from DARPA and NASA. The company has offices throughout North America, Europe, and Southeast Asia.
Cigital claims to have developed of the first commercial Static Analysis tool, ITS4, which was licensed to Kleiner Perkins and used as the basis for the creation of Fortify Software in 1999. HP acquired Fortify in 2010.
Cigital is also a driving force behind BSIMM (Building Security In Maturity Model), a study of real-world software security initiatives designed to serve as a measuring stick for secure application development programs.
In 2012, Cigital announced the release of the fourth version of the BSIMM study, which included data gathered from 51 security initiatives at corporations around the world.