Long Ridge and Drawbridge Leadership Team to Remain Substantial Shareholders
PALM BEACH GARDENS, Fla. & SAN FRANCISCO–(BUSINESS WIRE)–Drawbridge, a market leading provider of cybersecurity software and solutions to the financial services industry, today announced a strategic growth investment from Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses. Existing investor Long Ridge and Drawbridge’s leadership team will remain significant equity holders in the company.
Founded in 2018, Drawbridge has created an industry-leading, all-in-one platform which allows financial services firms to rapidly deploy, manage, and continuously optimize a holistic cybersecurity program. The company’s proprietary technology platform helps firms navigate the evolving regulatory and threat landscape, manage governance, risk and compliance (GRC) requirements, and combat sophisticated cyber threats. Drawbridge has recorded rapid and consistent global growth since its inception and is now relied on by over 900 funds in the alternative investment industry to build and maintain their critical cybersecurity programs.
The new investment from Francisco Partners will help drive Drawbridge’s continued expansion and product development to best serve customers across private equity, hedge fund, venture capital, and other industries.
Jason Elmer, Drawbridge Founder and CEO, said: “We are thrilled to announce this new investment from Francisco Partners which will allow us to accelerate our technology innovation and continuously focus on customer success. Drawbridge was founded to provide financial services firms with the state-of-the-art software and solutions they need to simplify and manage the complex and evolving cyber risk landscape. The industry is facing increased cyber threats and escalating due diligence demands, and this new investment will enable Drawbridge to provide an even greater level of support to our customers.” Scott DePetris, Drawbridge President and COO, added: “We are excited about the new partnership with Francisco Partners and are looking forward to further enhancing our leading offering across an expanding customer base.”
Peter Christodoulo, Partner at Francisco Partners, said: “Jason and Scott have done an exceptional job building Drawbridge’s market-leading platform and have shown an impressive dedication to solving customers’ critical cybersecurity and compliance needs. We are very excited to partner with Long Ridge and the Drawbridge team to accelerate growth and continue to drive innovation in the sector.”
Kevin Bhatt, Managing Partner at Long Ridge, said: “When we initially invested in Drawbridge last year, we recognized the company’s combination of cybersecurity software and solutions was uniquely positioned to help alternative investment firms thrive in an evolving threat landscape. The company’s tremendous success is a testament to the team’s strong leadership, and we are excited to join Francisco Partners in supporting the next phase of growth.”
The transaction was completed on September 1st. Financial terms are not being disclosed.
Raymond James served as financial advisor and Faegre Drinker Biddle & Reath served as legal advisor to Drawbridge. Kirkland & Ellis LLP served as legal advisor to Francisco Partners.
Drawbridge is a premier provider of cybersecurity software and solutions to the alternative investment industry. Its proprietary platform helps firms manage their governance, risk and compliance (GRC) requirements while combatting sophisticated cyber threats and third-party risks. Drawbridge’s platform connects business, compliance and IT to empower firms to centralize and manage their security programs, improve their risk profile and raise institutional capital. With a tested team focused on value delivery and a 900+ strong customer base, Drawbridge offers unmatched customer service and flexibility to help businesses proactively manage their cyber programs, plan for growth, and reduce complexity.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
About Long Ridge
Founded in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial and business technology sectors. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value-added partner to high-growth businesses. Since its founding, Long Ridge’s principals have sponsored some of the most successful growth companies in the financial and business technology sectors, providing leading management teams with partnership, strategic resources, and capital to drive profitable expansion. Long Ridge manages over $1 billion of committed capital. For more information on Long Ridge Equity Partners, please visit www.long-ridge.com.
Whit Clay / Sarah Braunstein