Cybersecurity Firm Receives $22M Investment

By Staff Reports, posted Sep 12, 2022
SaaS Alerts, a Wilmington-based cybersecurity startup, has received a $22 million investment from private equity firm Insight Partners, according to a news release.

This funding is aimed at accelerating the company’s growth within the burgeoning digital security industry.

The local startup’s service is built for Managed Service Providers (MSPs) to protect their customer’s software-as-a-service applications including Office 365, Google Workspace, Salesforce, Slack and Dropbox. MSPs are third-party firms that remotely manage customers’ IT.

According to the release, more businesses have been using these productivity and collaboration tools, especially during the growth of remote working prompted by the COVID-19 pandemic. This increase in use has highlighted some of the potential threats and security gaps that exist within these applications.

“These security concerns present opportunities for MSPs to better safeguard their clients while offering SaaS security services that drive profitable new revenue streams,” the release stated.

Of the investment, Insight Partners’ principal said in the release that Saas Alerts has “pioneered SaaS security for MSPs and has a clear vision for how detecting and correlating abnormal user behavior can greatly impact the MSP industry."

Insight Partners is a New York City-based venture capital firm that focuses on investing in growth-stage tech, software and internet businesses. The firm has also previously invested in Wilmington-based nCino, including being part of a $29 million funding round.

"We couldn't be more excited to partner with Insight Partners and we see their investment in SaaS Alerts as a monumental endorsement for what we have built and what we intend to build as we collaborate going forward," Jim Lippie, CEO of SaaS Alerts, said in the release.
Ico insights


Drewsmith copiersplus headshot

A Little More Communication, A Lot More Cohesion

Drew Smith - Copiers Plus
Brookeskipper saltair headshot2

Improving Indoor Air Quality Requires a Systematic Approach

Brooke Skipper - Salt Air

Don't Forget the "B"

Hoop Morgan - The Forté Institute, LLC

Trending News

Local Government Commission Does Not Approve Project Grace 

Johanna F. Still - Sep 22, 2022

State Legislature Candidates Share Views With Business Leaders

Cece Nunn - Sep 22, 2022

Application Denied: After LGC Setback, County Will Still Pursue Civic Project

Johanna F. Still - Sep 23, 2022

County Commission Candidates Participate In Power Breakfast Forum

Johanna F. Still - Sep 22, 2022

Work On Wilmington Seeks Nonprofit Projects To Complete

Staff Reports - Sep 23, 2022

In The Current Issue

MADE Winners: Food & Beverage Category

The Food & Beverage Category winners are Acme Smoked Fish of North Carolina, Kind Cultures and N. SEA. Oyster Co....

MADE Winners: Arts Category

Winners in the Arts Category are Anchor Hardwoods, Savage Surfboards and The Wall Printer....

Economist Studies What Makes Region ‘tick’

The role of regional economist appears suited for Mouhcine Guettabi’s skill sets and interests: it entails teaching, independent research, a...

Book On Business

The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100