Charlesbank Makes Strategic Growth Investment in Quorum Cyber

The new partnership will help propel growth and expedite Quorum Cyber’s mission to become Microsoft’s leading cybersecurity partner globally

Edinburgh, Scotland, June 5, 2024 – Quorum Cyber (or the “Company”), a global cybersecurity firm, today announced that it has received a strategic growth investment from Charlesbank Capital Partners (“Charlesbank”), a private investment firm with offices in Boston and New York. The new funding from Charlesbank will help Quorum Cyber build on its success to date and accelerate its growth strategy, including through talent recruitment and expanding its services to its global customer base.

Designated as a Microsoft Solutions Partner for Security, Quorum Cyber was founded in 2016 to defend as many organizations as possible against cyber threats, breaches and attacks. The Company’s range of offerings includes a diverse suite of services focused on maintaining customers’ cybersecurity postures, among them Sentinel MDR, Defender MXDR and Purview MDS, as well as a portfolio of highly complementary professional services such as Incident Response.

“I am thrilled that Charlesbank has made a substantial new investment to fuel our company’s expansion journey,” said Federico Charosky, CEO of Quorum Cyber. “This milestone is a clear validation of the exceptional services our team delivers daily for our customers. Our mission is to protect a greater number of organizations from the ever-evolving landscape of cybercrime, and to equip our defenders with the necessary tools to stay ahead. Livingbridge has been a terrific partner, and the added strength of Charlesbank’s platform, resources and deep sector insights will position us well for our next chapter.”

Charlesbank’s investment bolsters the financial support from the Company’s existing partner, Livingbridge, a private equity firm headquartered in London. Livingbridge’s 2022 investment has played a major role in Quorum Cyber’s recent growth, positioning the company to maintain its impressive momentum in the UK and North America. Reaffirming the solid results the Company has delivered in recent years, the new investment is an endorsement of the strategy set out by Quorum Cyber’s board of directors. With the support of its financial partners, the Company will invest in:

• Enhancing its already formidable portfolio of cybersecurity services;
• Developing its customer platform, Clarity;
• Driving further expansion into the U.S. market;
• Recruiting additional outstanding talent on both sides of the Atlantic;
• Leveraging artificial intelligence to defend organizations at machine speed and scale; and
• Continually training and developing its team members.

“As cybersecurity threats become increasingly common, complex and global, Quorum Cyber stands out for its ability to meet the demand for high-caliber managed and professional cybersecurity and data security services,” says Darren Battistoni, Managing Director of Charlesbank. “With its robust set of AI-enabled technology services, as well as its strong alignment with Microsoft’s cybersecurity suite, Quorum Cyber is well-positioned to help organizations protect themselves amidst this evolving and unpredictable landscape. We look forward to partnering with Federico and his talented management team to strengthen the Company’s position in the market and expand its ability to provide cybersecurity solutions to organizations worldwide.”

“Charlesbank’s investment in Quorum Cyber is a result of a multi-year thematic investment thesis around managed security services and cybersecurity more broadly,” added Dhruva Kaul, a Charlesbank Principal. Charlesbank plans to leverage its deep domain expertise and track record scaling technology companies to help Quorum Cyber grow its business across geographies and customer segments, as well as build strategic partnerships to further accelerate growth.

Matthew Jacobs, Partner at Livingbridge, said: “We are so proud of what the Quorum Cyber team has accomplished since we invested in 2022, more than tripling headcount and becoming a leading Microsoft security services provider in the UK. During our partnership, we supported the team through a period of rapid growth and helped with Quorum Cyber's expansion into new markets, including the US and the Middle East. It has been a pleasure to work alongside Federico and the team, and we’re excited to be a part of this next phase of growth alongside Charlesbank.

Canaccord Genuity, a global investment bank, served as exclusive financial adviser to Quorum Cyber.