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The Ireland-based cloud security firm TitanHQ has announced it has secured investment from the UK-based mid-market private equity firm, Livingbridge.
For the past two decades, TitanHQ has been developing security solutions for small- to medium-sized businesses, internet service providers (ISPs) and managed service providers (MSPs) and has three cybersecurity solutions in its portfolio: SpamTitan for email security, WebTitan for web security and internet content filtering, and ArcTitan for email archiving.
TitanHQ has been enjoying consistent year-over-year growth in the SMB and MSP market and is now the leading provider of cloud-based security solutions for MSPs serving the SMB market. TitanHQ’s solutions have been adopted by more than 8,500 businesses and more than 2,500 MSPs in over 150 countries. The company’s client base includes Datto, Pepsi, O2, ViaSat, and Virgin and TitanHQ has an ARR of more than $15 million.
Livingbridge has been investing in fast growing companies up to the value of £200 million for 20 years. In addition to its Manchester, UK base, the private equity firm has offices in the United States and Australia. The firm has a strong track record and has invested in more than 150 companies and helps them achieve their full potential.
Livingbridge identified TitanHQ as a target for investment based on the company’s strong growth, its position as a leader in the cloud security market, and the growing demand for its SaaS solutions. Livingbridge has provided funds through its Enterprise 3 program, through which the company invests in SMEs with an enterprise value of up to £50 million.
The partnership will provide an injection of capital that will help TitanHQ invest further in product development and people and reach its true potential. Bill McCabe is also an investor in TitanHQ, having invested in the company at inception through Oyster Technology Investments, and will retail a significant stake in the business.
“We are delighted to be partnering with TitanHQ, a uniquely positioned business with a well-differentiated product portfolio operating in a fast-growing, attractive market that is benefiting from strong macro tailwinds,” said Livingbridge director, Nick Holder. “There is a tremendous opportunity for Titan HQ to accelerate its growth trajectory over the coming years and we look forward to working closely with the management team to fulfil the company’s potential. Their focus and dedication to the MSP community is completely aligned with our strategy.”
“We are excited to be taking this next step in our growth journey with Livingbridge, a partner that understands the unique strengths of our business, shares our vision for success and has the experience and resources to help us to achieve it,” said TitanHQ CEO, Ronan Kavanagh. “The recent pandemic and the growth of WFH initiatives has further highlighted the need for multiple layers of cyber security and our solutions form key pillars in this security strategy.”