Grip Security, a leader in software as a service (SaaSP security unifying discovery, access control and data governance, announced a strategic investment from The Syndicate Group (TSG), a venture firm that helps startups scale faster. The investment helps Grip Security quicken its channel-led growth strategy and has spurred partner interest and sales pipelines that exceeded expectations, setting the company up to overachieve its financial goals.
“The positive response we are seeing in the market and demand from large enterprise security teams has been truly amazing, and it is clear that Grip is solving a problem that has not been adequately addressed by the thousands of security products on the market,” said Lior Yaari, CEO of Grip Security. “TSG’s investment should make our phenomenal growth in pipeline and awareness even more impressive, and they are a great partner to help us scale our growth and accelerate our channel partnerships.”
Driven largely by growth in the channel, Grip Security expects to triple its bookings from the previous fiscal year. The Grip SaaS Security Control Plane (SSCP) solution is ideal for channel partners that want an easy-to-deploy solution that can generate license and service revenue.
Most large enterprises have digital transformation initiatives that increase the use of SaaS and cloud services. Users take advantage of SaaS benefits and acquire their own applications that are not governed by central IT.
This reality creates an environment where the security value of traditional architecture is no longer sufficient. By taking an identity security approach, Grip creates an identity fabric that provides a consistent, continuous and context-aware security posture that supports the agility modern enterprises need. With Grip, companies can embrace cloud services, SaaS and digital supply chains safely and securely.
TSG is introducing Grip Security to its ecosystem of more than 450 channel partner companies and more than 7,500 TSG members to accelerate the company’s growth strategy. The introduction is resulting in enormous partnering activity and investment interest as many of its members are investors in the TSG funds.