WOODSIDE, Calif., Sept. 15, 2022 /PRNewswire/ — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, and Skyview Capital, LLC (“Skyview”), a global private investment firm specializing in the acquisition and management of mission critical enterprises in technology, telecommunications, business services and manufacturing, announced today a significant growth investment in Fidelis Cybersecurity (“Fidelis”).
The investment will provide working capital to enable Fidelis’ continued success in developing cyber solutions that help security teams from top commercial, enterprise, and government agencies worldwide find and stop threats faster and more effectively.
Fidelis is an industry innovator in Active eXtended Detection and Response (XDR) solutions that are trusted by Fortune 100 firms and government organizations worldwide. The company’s proactive cyber defense solutions provide advanced threat detection, deception, and response to safeguard modern IT environments across cloud, network and endpoints.
“We are excited to reaffirm our commitment to Fidelis, who has been in Runway’s portfolio since May 2021,” said Greg Greifeld, Managing Director and Deputy Chief Investment Officer at Runway. “Fidelis is well-positioned in the high-growth cybersecurity market; they’re a stable business that has a strong executive team and low client churn.”
“There is so much to like about the cybersecurity sector right now. There is strong government backing (in the billions), high margins, and low customer churn rates when compared to other SaaS businesses,” said David Spreng, Founder and CEO at Runway.
Fidelis plans to use the additional capital to continue its product development, build out its operational infrastructure, and fuel growth.
“Being endorsed by leading investment firms such as Skyview and Runway, affirms that Fidelis is well positioned to maximize growth opportunities that are being driven by a sizable government investment in cybersecurity and ongoing market consolidation,” explained Eric Moseman, President at Fidelis. “Runway’s long-standing partnership with Fidelis and the trust they have in our team and products, has enabled us to work from a position of strength in the rapidly evolving cybersecurity marketplace.”
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. ( Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of $10 million to $75 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. For more information, please visit www.skyviewcapital.com.
Fidelis Cybersecurity, the industry innovator in Active XDR and proactive cyber defense solutions, safeguards modern information technology (IT) environments with unparalleled detection, deception, response, cloud security, and compliance capabilities. We offer full visibility across hybrid environments via deep, dynamic asset discovery, multi-faceted context, and risk assessment. These features help minimize attackable surface areas, automate exposure prevention, threat detection, and incident response, and provide the context, accuracy, speed, and portability security professionals need to find and neutralize adversaries earlier in the attack lifecycle. Fidelis Cybersecurity is dedicated to helping clients become stronger and more secure. Fidelis is trusted by many top commercial, enterprise, and government agencies worldwide. For more information, please visit http://www.fidelissecurity.com/.
SOURCE Runway Growth Capital LLC