digital guardian

Cybersecurity Firm Digital Guardian Raises $66M

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It seems like every time you check the headlines a new company is getting its data stolen.

For the past 12 years Digital Guardian has been striving to help companies classify and protect data on their systems so that they can avoid being the next ones in the news.

Today the company is getting some more capital to help grow its cybersecurity products. Digital Guardian just completed a $66 million raise. The company has raised north of $135 million to date.

According to Digital Guardian CEO Ken Levine, the company’s technologies revolve around a “desktop agent that monitors all of your data and system events, inspects the contents, clarifies the data and then forms policies around where the data can go.”

The Massachusetts-based cybersecurity firm currently has 265 employees, with offices in the U.S., UK and Japan. With this new capital, the company is looking to continue to expand the scope of their products and tightly integrate existing tech as they look to effectively serve the company’s 450 distinct clients.

This past September, Digital Guardian acquired Code Green Networks, a Data Loss Prevention (DLP) network. Levine confirmed to TechCrunch that the Sunnyvale, California company was acquired for roughly $18 million.

In the wake of the purchase, Levine and the rest of the team at Digital Guardian have been working hard to begin integrating the network-level DLP into their products, which have largely focused on endpoint data protection, as the company looks to further extend their services into addressing cyber threats.

In what appears to be a trend among several cybersecurity companies at this point in time, Levine says that he is beginning to look more closely at what would make Digital Guardian a successful IPO candidate in 2016.

A laundry list of investment partners participated in the round, including, GE Pension Trust, Fairhaven Capital Partners, Loring Wolcott & Coolidge, Special Situation Funds, Brookline Venture Partners, LLR Partners, Mass Mutual Ventures LLC, MassMutual and the Venture Capital Unit of Siemens Financial Services.

“Like most companies, our lifeblood at Siemens is our intellectual property and it must be safeguarded,” said CEO Ralf Schnell, Venture Capital Unit of Siemens Financial Services, in a release. “We closely evaluated Digital Guardian’s product capabilities, strategic roadmap, and corporate vision and were very encouraged with our results.”

Also of note is that David Stienes, a partner at LLR Partners, will be joining the company’s Board of Directors.