INDIANAPOLIS (Inside INdiana Enterprise) Cybersecurity provider Pondurance has received so-called critical funding from Newlight Companions LP, a New York-based personal funding agency.
While the terms of the acquisition will not be disclosed, Pondurance says the funding will allow it to add approximately 50 employees and grow into a much larger participant in the managed detection and response market.
The company intends to use the funds to drive analysis and improvement, develop its employees and expand its management group.
We had tried carefully to find the appropriate financing agreement that would allow us to build our tradition and expertise as the core for rapid development, said Ron Pelletier, who had founded the company for 12 years in the past. The truth that NLP set us apart from a large number of different cybersecurity companies confirms that we now have one thing that is worthy and distinctive. Our current buyers have already noticed one thing. Nonetheless, we are humbled by this endeavor and are happy to repeat our success nationwide.
MDR is a service for businesses that lack the resources to detect and protect against cyber threats.
Pondurance also introduced Doug Howard as chief government officer and Niloofar Razi Howe as chairman of the Pondurances Board of Administrators.
The company says its founders and current management group will stay with the company along with Pelletier, Landon Lewis, Dustin Hutchison and Cathy Iacobucci.
Pondurance is a trusted cybersecurity company that is exceptionally well equipped to evolve in a rapidly evolving market as clients deal with ransomware, compliance and digital transformation, said Adam Stulberger, companion at Newlight.
Corporate headquarters will remain in Indianapolis. Stulberger says the funding will allow Pondurance to improve its capabilities and geographic footprint.
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