Press release -
Monterro sells leading cyber risk management platform Outpost24 after seeing ARR quadruple
Monterro, the leading Nordic B2B software growth investor, has signed an agreement to sell cyber risk management SaaS platform Outpost24 to international growth equity investor Vitruvian Partners, after quadrupling its ARR in the 6 year tenure.
Outpost24 was acquired by Monterro in 2016 and, under its ownership, the company has transformed into a leading cyber security risk management software provider through product innovations and investments in its people and processes that have accelerated organic growth, supported by four strategic acquisitions, with Outpost24 quadrupling its ARR during Monterro ownership. Outpost24 today services the cybersecurity needs of over 2,500 customers in more than 65 countries.
- “Outpost24 has enjoyed fantastic growth and it has been a pleasure to work with CEO Karl Thedéen and the management team”, says Martin Henricson, Managing Director of Monterro and Chairman of the Board at Outpost24. “We’ve transitioned the company into a profitable, emerging global leader in its category – by developing an innovative full stack security assessment platform, establishing a scalable go-to-market model for internationalization, and building a solid operation for long term growth. We are extremely proud of the outcome and look forward to seeing their continued success.”
- “Monterro has offered tremendous support in helping us cement our market position.” says Karl Thedéen, CEO of Outpost24. “We have a proven history of product innovation and together with Monterro we’ve been able to accelerate growth by building a best-in-class platform and a scalable business with their hands-on expertise and experience from helping software companies go global.” he continues.
William Blair acted as M&A advisor to Monterro and Setterwalls as its legal advisor.
For more information:
Martin Henricson, Managing Director, Monterro, Mobile: +46 70 995 08 73, e-mail: martin.henricson@monterro.com
About Outpost24
The Outpost24 group is pioneering cyber risk management with vulnerability management, application security testing, threat intelligence and access management – in a single solution. Over 2,500 customers in more than 40 countries trust Outpost24’s unified solution to identify vulnerabilities, monitor external threats and reduce the attack surface with speed and confidence.
Delivered through our cloud platform with powerful automation supported by our cyber security experts, Outpost24 enables organizations to improve business outcomes by focusing on the cyber risk that matters. Outpost24.com
About Vitruvian
Vitruvian Partners is a leading international growth investor with offices across London, Stockholm, Munich, Madrid, Luxembourg, San Francisco, Singapore and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, financial services, life sciences & healthcare, media, and business and consumer services.
Vitruvian has backed over 70 companies and has approximately €10 billion in assets under management, which is among the largest pools of capital in Europe supporting innovative and higher growth companies. Notable investments to date include global market leaders and innovators in their field such as Just Eat, CRF Health, Farfetch, Darktrace, Trustpilot, Marqeta, TransferWise, Skyscanner and others. Vitruvian has a strong presence in the Nordics with an established office in Stockholm and a track record of fifteen investments across the region: Accountor, Bambuser, Benify, BHG Group, Carasent, CRF Health, Enfuce, EasyPark, Just Eat, Outpost24, Scrive, Snow Software, Storytel, Trustpilot and Unifaun.
More information can be found at: www.vitruvianpartners.com
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Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders. With operational experience from successfully developing and running companies such as Pointsec, Episerver, Orc Software, and Lime Technologies, Monterro actively supports its portfolio companies in all aspects of growth. A substantial part of the fund’s capital, 25%, comes from Monterro’s founders and employees.
