Cyber security starup SaaS Alerts secures $22m to scale its security monitoring and response platform
SaaS Alerts, the cybersecurity company purpose-built for Managed Service Providers (MSPs) to protect and monetize their customers' core business SaaS applications, announced it has secured a $22 million growth investment from global software investor Insight Partners to accelerate the growth of its SaaS Security monitoring and response platform.
The accelerated rate of SaaS Application adoption by businesses, driven by the need to provide collaboration and productivity tools to remote workforces and for more centralized and tightly controlled business data resources, has elevated awareness and critical concern for major threat vectors and security gaps that exist in SaaS Application security. These security concerns present opportunities for MSPs to better safeguard their clients while offering SaaS security services that drive profitable new revenue streams.
SaaS Alerts was designed to help MSPs monitor and protect their customers' usage of today's most popular SaaS applications such as Microsoft 365, Google Workspace, Salesforce, Dropbox and more – and to safeguard against security threats to a business' SaaS environment such as data theft, data that's at risk due to unintentional employee mishaps and actions taken by bad actors.
Jim Lippie, CEO, SaaS Alerts: "We couldn't be more excited to partner with Insight Partners and we see their investment in SaaS Alerts as a monumental endorsement for what we have built and what we intend to build as we collaborate going forward. I'm very proud of our team for reaching this milestone and look forward to working with Insight to continue to build value for our MSP partners and stakeholders."
Philine Huizing, Principal, Insight Partners: "SaaS applications have become essential for businesses of every size and MSPs need the ability to better protect those applications on behalf of their customers. SaaS Alerts has pioneered SaaS security for MSPs and has a clear vision for how detecting and correlating abnormal user behavior can greatly impact the MSP industry. We're excited to partner with SaaS Alerts as the company scales to address this unique opportunity."
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