Field Effect is thrilled to announce that we have successfully raised USD $30M in our series A funding round, led by Edison Partners with investment from additional strategic partners. These funds will allow us to accelerate our sales and marketing efforts with a focus on channel and brand elevation. Additionally, the funds will support product and service evolution, financial scaling, and further development of commercial operations, including e-commerce.
Field Effect was founded with the purpose of addressing the cybersecurity needs of the vastly underserved small and medium enterprise (SME) market. Most security tools were built with the Fortune 1000 or large enterprise in mind, requiring both substantial budgets and deep security expertise to manage, far from the reality of most SMEs. This has forced SMEs to operate without proper protection, struggle to manage overly complex tools, or spend beyond their means for adequate cybersecurity.
“This investment validates our vision of providing cybersecurity to all organizations, regardless of size or cybersecurity expertise. This will enable us to scale our mission of delivering insight into security posture and active protection from threats, in an easy-to-consume interface that was created to eliminate the noise generated by most solutions,” said Matt Holland, co-founder and CEO, Field Effect. “It was really exciting to find partners who share our vision with whom we can work on expanding our reach and accelerating our growth.”
Field Effect’s flagship product, Covalence, combines advanced analytics, machine learning, and the expertise of security analysts skilled in both offensive and defensive tactics to deliver a holistic solution purpose-built for SMEs. Covalence monitors, detects, and actively responds in real-time to threats across the breadth of the modern IT environment, analyzing telemetry from endpoint devices, the network, and cloud services. It reduces risk by identifying vulnerabilities before attackers do, allowing SMEs to take a proactive approach to their cybersecurity. Alerts are delivered via proprietary AROs (Actions, Recommendations, and Observations), a framework that presents relevant security information in a straightforward manner, accessible even to those without any cybersecurity expertise.
Recognizing that knowledge and experience are required to support the human elements of cybersecurity, Field Effect also offers Cyber Range, a cybersecurity training platform used to simulate and run realistic threat scenarios and courses for hands-on learning. Cyber Range customers vary in size from SMEs to large corporations, universities, and government agencies.
“Digital assets and infrastructure are at a critical juncture of vulnerability, and Field Effect is positioned for continued momentum with its SME cybersecurity offerings. We’re thrilled to partner with Field Effect in its efforts to accelerate and expand its market presence,” said Lenard Marcus, general partner of Edison Partners who led the investment and joined the company’s board of directors.
“Field Effect is excited to work with Edison Partners to help scale our sales and marketing efforts and expand into new markets. We look forward to evolving our products and services even further and continuing to delight SMEs both directly, and through our partners, including managed services providers and IT Resellers, thereby enhancing our reputation as a holistic and flexible cybersecurity company,” said Holland.
Click here to read the official press release from Edison Partners.
About Edison Partners
Edison Partners is a leading growth equity firm providing the financial and intellectual capital that CEOs and their executive teams need to grow and scale their companies. The firm’s team brings more than 275 years of combined investing, operating and sector experience to each investment, accessible via the Edison Edge value creation platform, which is tailored to each business’ strategy, stage and operating needs. Edison targets high-growth financial technology, healthcare IT and vertical SaaS and marketplace companies located outside Silicon Valley with $10 million to $30 million in revenue. Investments also include buyouts, recapitalizations, spinouts, and secondary stock purchases. Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners manages $1.6 billion in assets. For more information on Edison Partners, please visit edisonpartners.com and follow on LinkedIn.
About Field Effect
Field Effect, a global cybersecurity company, is revolutionizing the industry by bringing advanced cybersecurity solutions and services to businesses of all sizes. After years of research and development by the brightest in the business, we have pioneered a holistic approach to cybersecurity. Our complete Managed Detection and Response (MDR) solution, flexible simulation-based training platform, and expert-led professional services form a unified defence that results in superior security, less complexity, and immediate value. We build solutions that are sophisticated, yet easy to use and manage, so every business owner can get the hands-free cybersecurity they expect and the sleep-filled nights they deserve. For more information about Field Effect, please visit fieldeffect.com