Fortress Information Security receives private equity funding to protect U.S. critical industries
Fortress Information Security got a $125 million investment from Goldman Sachs Asset Management’s private equity business.
This funding will support Fortress’s mission to protect U.S. critical industries from cybersecurity and operational threats from their supply chains.
Founded in 2015, Fortress is a leading supply chain cybersecurity provider for critical industries. The Fortress platform enables customers in critical industries to assess, manage, and address risks associated with vendors, assets, and software in their supply chains. It also enhances cybersecurity postures and compliance with relevant regulations.
“Supply chain cybersecurity is one of the most important challenges facing business and government leaders today. Supply chains represent a source of significant threats to the national economy and our ability to maintain our way of life,” Peter Kassabov, executive chairman and co-founder of Fortress, said. “We started Fortress because we recognized major supply chain vulnerabilities in our country’s most critical industries. Many recent high-profile breaches have spawned a new wave of regulatory action in the U.S. that will likely expand for the foreseeable future.”
The Fortress solution was co-developed with leading electric utilities and has since grown into a consortium tool that includes five of North America’s ten largest investor-owned utilities. Fortress’s platform secures 40 percent of the U.S. power grid, substantial national defense-related assets, and critical manufacturing industries.
“The Goldman Sachs investment validates the hard work of our employees and clients who have brought collaborative cybersecurity to life,” Alex Santos, Fortress CEO and co-founder, said. “This growth capital infusion will empower us to accelerate the execution of our vision of resilient supply chains.”
Foley & Lardner acted as legal advisor, and DBO Partners acted as financial advisor to Fortress.
“Fortress has established itself as a market leader in end-to-end supply chain cybersecurity solutions for U.S. critical industries, and we look forward to scaling the company’s Asset-to-Vendor network, which provides significant value to critical infrastructure suppliers and customers,” Will Chen, managing director within Goldman Sachs Asset Management, said. “The depth and breadth of the Fortress platform are unmatched, and we believe there is a meaningful opportunity to accelerate the expansion of the platform into compelling product adjacencies, including software and hardware bill of materials, workflow orchestration, and additional analytics and reporting capabilities.”
