Enterprise Software Developer Apptega Secures $37M Growth Funding

The investment from Mainsail Partners will help Apptega expand into a new channel and advance its product.

Written by Ashley Bowden
Published on Mar. 21, 2022
Enterprise Software Developer Apptega Secures $37M Growth Funding
security
Image: Built In

Keeping organizational data secure has become a larger challenge for companies in recent years. As more systems move to online channels, so do people with malicious intent looking to take advantage of the trend. As a result, organizations are held to higher security and compliance standards than ever before, and solutions are arising to help them stay in tune with these numerous requirements.

One such solution is Atlanta-based Apptega. The company offers an enterprise platform to help enterprise customers streamline the processes of building, managing and reporting their cybersecurity and compliance programs. Its solution supports more than 25 frameworks and allows companies to map frameworks more simply as well as expedite compliance with multiple frameworks.

whitney
Armistead Whitney, CEO of Apptega | Photo: Apptega

“We help companies of all sizes manage their cybersecurity compliance programs directly,” Armistead Whitney, Apptega’s CEO, told Built In via email. “In doing so, many have moved away from Excel spreadsheets to our platform for a more robust method of managing their programs from start to finish.”

Apptega announced last Thursday a $37 million growth investment from Mainsail Partners that it will spend on expanding its services into the managed security service provider (MSSP) channel.

MSSPs provide services that monitor and manage security devices and systems, like firewalls, anti-virus protection or vulnerability scanning, as defined by Gartner. By expanding its presence into this new channel, Apptega aims to help them implement and manage their programs more effectively. 

“We are already helping MSSPs provide rock star compliance management to their clients. By wrapping their services around our platform, they become 50 percent more efficient in their offerings and enhance their reporting capabilities for all stakeholders in cybersecurity compliance programs,” Whitney said. “Additionally, with our multi-tenant, assessment to audit platform, MSSPs can manage all their clients’ programs in one single, easy-to-use dashboard.”

Part of the company’s new funding round will also go toward enhancing its products and building out its team ahead of scalable growth, according to Whitney. Apptega plans to create 100 new jobs within the next year.

In the midst of doing so, the company is currently hiring for positions across its engineering and product departments.

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