Private equity firm Audax Private Equity has paid an undisclosed amount for a majority stake in Flashpoint, a US-based cybersecurity platform developer backed by media group Bloomberg and networking technology provider Cisco.
Founded in 2012, Flashpoint has built a threat intelligence software tool that enables enterprise users to thwart and mitigate risks online, detecting fraud, corporate security and third-party risks.
The company had raised $34m in debt and equity financing in late 2019, securing $6m in equity funding from unspecified backers and $28m in debt financing from financial services firm Bank of Montreal’s Technology and Innovation Banking subsidiary.
Growth equity firm Georgian led Flashpoint’s $28m series C round in 2017, investing with Bloomberg Beta and Cisco Investments, representing Bloomberg and Cisco respectively, as well as Leaders Fund, TechOperators, Greycroft Partners and Jump Capital.
Bloomberg Beta and Cisco Investments had participated in a $10m series B round for the company the previous year that was led by Greycroft and filled out by consulting firm K2 Intelligence, Jump Capital and Leaders Fund.
Flashpoint had previously secured $5m in a 2015 series A round led by TechOperators and backed by Bloomberg Beta, Cisco Investments, K2 Intelligence, Leaders Fund and Jump Capital.
