Grip Security, a leader in SaaS security unifying discovery, access control and data governance, announced a strategic investment from The Syndicate Group (TSG), a leading venture firm that helps startups scale faster with revenue growth and new customer acquisition by organizing exclusive investment access for their strategic go-to-market ecosystem. The investment helps Grip Security accelerate its channel-led growth strategy and has already spurred partner interest and sales pipelines that have exceeded expectations, setting the company up to overachieve its financial goals. TSG has a demonstrated history of investing in disruptive, category-creating companies and helping them accelerate revenue growth.
“The positive response we are seeing in the market and demand from large enterprise security teams has been truly amazing, and it is clear that Grip is solving a problem that has not been adequately addressed by the thousands of security products on the market,” said Lior Yaari, CEO of Grip Security. “TSG’s investment should make our phenomenal growth in pipeline and awareness even more impressive, and they are a great partner to help us scale our growth and accelerate our channel partnerships.”
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Driven largely by growth in the channel, Grip Security expects to triple its bookings from the previous fiscal year. The Grip SaaS Security Control Plane (SSCP) solution is ideal for channel partners who want an easy-to-deploy solution that can generate both license and service revenue. Most large enterprises have digital transformation initiatives that are increasing the use of SaaS and cloud services. Users are also taking advantage of the benefits of SaaS and acquiring their own applications that are not governed by central IT. This reality has created an environment where the security value of traditional architectures is no longer sufficient. By taking an identity security approach, Grip creates an identity fabric that provides a consistent, continuous and context-aware security posture that supports the agility modern enterprises need today. With Grip, companies can embrace cloud services, SaaS and digital supply chains safely and securely.
“Our strategic ecosystem is a pillar of our funding model and is extremely important to the success of TSG. In that vein, we are highly selective about our investments because we are endorsing them to our massive partner network,” said Chad Cardenas, CEO of TSG. “Grip Security is a prime example of the type of startup we endeavor to introduce to our network members. The company’s SSCP is not only relevant to the needs of channel businesses, but it also delivers a solution that did not previously exist in the market for one of the most pressing issues facing CXOs today. We are thrilled to bring Grip into our ecosystem and help the company scale.”
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TSG is introducing Grip Security to its ecosystem of more than 450 leading channel partner companies and more than 7,500 TSG members to accelerate the company’s growth strategy. The introduction has received enormous partnering activity and investment interest as many of its members are investors in the TSG funds. Startups introduced to the network are able to accelerate their go-to-market efforts by connecting with relevant channel partners and investors, and by capturing mindshare and focus all the way through exit. TSG channel partner companies and members benefit by staying ahead of emerging tech trends, gaining early access to great resale relationships and sharing in the value-growth upside of the greatest enterprise tech companies through private, pre-IPO investments.
“Grip Security is solving one of the most pressing issues CISOs (Chief Information Security Officers) face today, and their solution stands out by installing in 10 minutes and delivering value from day one,” said Jon Mendoza, CISO at Technologent. “The company should benefit tremendously by working with TSG, who is known for identifying game-changing companies that channel companies will embrace and take to market. Technologent has already seen amazing interest in Grip’s SSCP solution, and it positions us well to be one of the first companies to address the market need.”
Mike Strohl, CEO of E360, said “Working with TSG, we have been able to open the opportunity for our teams to bring new innovative partners to market. Grip is a great example of a company that is redefining an industry category, and a solution we can integrate into our innovation program and quickly distribute to our sales teams. Having Grip in our portfolio helps us continue to deliver differentiated value to the e360 client base by offering products and services that address their most critical needs.”
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