Raxis, an Atlanta-based cybersecurity and penetration testing services provider, has secured a growth investment from private equity fund RCP Equity. Raxis will use the investment to scale its U.S. sales and operations and launch a recurring service for channel partners.
This is M&A and Investment Deal Number 51 that MSSP Alert and ChannelE2E have covered in 2020. See the complete M&A deal list here.
Raxis helps organizations detect vulnerabilities across networks and systems, the company stated. In addition to penetration testing, Raxis provides the following services:
- Baseline Security Assessment: Offers continuous vulnerability scanning.
- Breach Response: Provides 24/7 incident response.
- Red Team Exercise: Helps an organization assess the strength of its cybersecurity program.
- Secure Code Review: Delivers a line-by-line manual code review to help an organization identify security vulnerabilities.
- Social Engineering: Involves the use of simulated data exfiltration to help an organization prepare for phishing emails and other social engineering attacks.
Furthermore, Raxis offers customized penetration testing for web applications, mobile apps and APIs. It also provides Transporter, a device that allows an organization to perform on-site penetration testing.
Cybersecurity Investors Target Penetration Testing
Investors and private equity firms have steadily targeted penetration testing firms for growth opportunities. For instance:
- November 2o19: Pcysys, an automated penetration testing platform provider, raised $10 million in a Series A financing round led by Awz Ventures and Blackstone.
- July 2018: UK-based MSP Claranet acquired NotSoSecure for ethical hacking training & penetration testing services.
- May 2018: Penetration testing-as-a-service (PTaaS) platform provider Cobalt.io raised $5 million in Series A funding from byFounders, eLab Ventures & other investors.
Increased deployment of web and cloud-based business applications is one of the factors that could drive the demand for penetration testing services worldwide, according to industry analyst MarketsandMarkets. Meanwhile, the global penetration testing market could be worth more than $1.7 billion by 2021.
