WILMINGTON – The Wilmington-based cybersecurity company SaaS Alerts has raised $22 million in investment capital from Insight Partners, and the intent of the funding is to scale the company’s growth.
In a statement, the company noted that there’s currently an acceleration of software-as-a-service application adoption by businesses, and managed service providers are seeking to safeguard their clients from cyber attacks.
SaaS Alerts serves those managed service providers, or MSPs.
“SaaS Alerts offers a unified, real-time monitoring platform for MSPs,” a statement from SaaS Alerts reads. The platform can protect against data theft and bad actors, the company notes, and the company’s solutions integrate with many popular software-as-a-service (SaaS) applications.
“The accelerated rate of SaaS Application adoption by businesses, driven by the need to provide collaboration and productivity tools to remote workforces and for more centralized and tightly controlled business data resources,” reads the statement, “Has elevated awareness and critical concern for major threat vectors and security gaps.”
The investment from Insight Partners is a “monumental endorsement” of the company’s work and business model, said Jim Lippie, CEO of SaaS Alerts, in the statement. “I’m very proud of our team for reaching this milestone and look forward to working with Insight to continue to build value for our MSP partners and stakeholders,” added Lippie.
Wilmington continues to evolve (quickly) as entrepreneurial hub – here’s an update
Expanding Wilmington ecosystem
The Wilmington startup ecosystem continues to evolve, and this latest fundraise by a local company is one of many recent notable stories from the region. Earlier this month, Live Oak Bank, which was launched in Wilmington and maintains its headquarters in the city, announced it would expand its operations in the city including adding 204 jobs that will pay average annual salaries of more than $101,000.
And a startup backed by NBA superstar Kevin Durant, Suzy, announced last year that it would also bring at least 40 high-paying jobs to the region.
Another brewing success story may be emerging in Wilmington: Ohanafy
