Venture

Security Firm Semperis Raises $40M Series B Led By Insight Partners

Semperis, a profitable cybersecurity firm, raised a $40 million Series B funding round. In total it has raised $54 million.

Semperis is best known for providing security for Microsoft’s Active Directory, before, during and after an attack. Microsoft’s Active Directory is used by over 90 percent of Fortune 500 companies and is the place where all customer provisioning, access and permissions are authorized.

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Identity is the key to the kingdom and therefore a lucrative target for attackers, said Semperis Founder and CEO Mickey Bresman, who spoke to us earlier this week. If a hacker wants to steal information or cause damage to an organization, access to an identity allows them to do what they want. Would-be hackers can completely shut down an organization, or create accounts and get access.

The most critical service Semperis provides is recovery for companies post-attack. It took Maersk, a container logistics company, nine days to get its active directory restored after an attack. It had to shut down operations for an extended period of time.

“We can restore the entire Active Directory at that scale of a customer in approximately four hours. From nine days to four hours. This is where we shine,” said Bresman.

Customers are concentrated among the Fortune 500, and include finance, health care, manufacturing, insurance, retail and government agencies. The firm has experienced recent growth in the health care sector, specifically hospitals. Semperis is profitable, but raised funding in order to grow and support customers in new markets. In 2019 Semperis’ total contract value shows 800 percent growth year over year, the company said.

Insight Partners, a New York based venture and private equity firm, led the round. Managing Director Teddie Wardi will be joining the board. According to Wardi the funding was secured pre-pandemic.

For Wardi, it’s clear that companies are facing immense pressure since the pandemic, should an attack come during already challenging economic times.

Security investments by Insight Partners include threat intelligence firm Recorded Future, Armis Security in the IoT security space, SentinelOne in endpoint detection, and Thycotic for enterprise password management.

Illustration: Dom Guzman

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