Security software firm Avecto secures £32m boost from US investors

Cheshire tech firm Avecto has received an eight-figure boost from US growth equity firm JMI Equity.

JMI Equity has ploughed $49m (£32m) into Avecto, paving the way for the Cheadle-headquartered security software company to realise its growth strategy.

Avecto’s co-CEO, Paul Kenyon, said: “To this point we have created a unique endpoint suite of security products and built an enviable business all without any external funding.

“The investment from JMI will enable us to significantly boost our capabilities as we add even more talent to all areas of the business in order to continue to deliver high value solutions to our expanding customer base.”

He added: “JMI has significant experience in growing enterprise software companies which will be invaluable as we enter this new exciting chapter.”

The transaction will see JMI Equity’s general partner Jit Sinha and principle Suken Vakil join Avecto’s board of directors.

Mark Austin, a co-CEO at Avecto, commented: “JMI’s involvement will help us to take our innovative software to more organisations across the globe as we focus on building awareness and spreading the message that prevention is possible on the endpoint.

“The investment will also help to expedite our ambitious R&D plans, bringing our product roadmap to life.”

Discussing the investment, Jit Sinha explained that enterprises struggle to balance sufficient endpoint security with a positive user experience, an issue he believes Avecto has successfully addressed with its Defendpoint security product.

He said: “Avecto has solved a critical pain point with Defendpoint, which organisations around the globe recognise as effective security protection.”

With its headquarters in Cheshire, Avecto operates offices in the US, Australia and Germany. The firm was founded by entrepreneurs Mark Austin and Paul Kenyon in 2008 and today has more than 600 enterprise clients.

JMI Equity principal Suken Vakil said: “As a market leader in this space, Avecto has seen significant success with its product platform, which has increasing global customer demand and huge potential for future growth.

“We look forward to working with the Avecto team to build on its reputation for innovation and quality.”

Results International served as the financial advisor for Avecto during the transaction.

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