FairWarning, a Clearwater company with software designed to catch people stealing data, received a $60 million growth equity investment from Mainsail Partners, a private equity firm in San Francisco.
The new funding is the largest private equity investment so far this year for a Tampa Bay company among the deals for which a value has been disclosed.
The capital will be used to scale and accelerate product innovation, a press release said.
Private equity firms increasingly are backing cybersecurity companies as cyber threats grow, according to a report in Financial Times.
FairWarning is well positioned to handle the entire lifecycle of privacy, from insider threats protection to investigation, compliance and reporting, Michael Anderson, a partner at Mainsail Partners, said in the press release.
FairWarning, headed by CEO Kurt Long, has security solutions that provide data protection and governance for electronic health records, Salesforce, Office 365 and hundreds of other applications. The company says its software protects against data theft and mis-use through real-time and continuous user activity monitoring.
The company doesn’t disclose revenue, but has been profitable for the past 10 years, the press release said.