Cybersecurity Firm Proficio Raises $12M in Private Equity Round

Cybersecurity, Internet Security, Web Security, Database Security

Proficio, a Carlsbad, CA-based startup providing cybersecurity protection services for middle market companies, has raised $12 million in an investment round led by Kayne Anderson Capital Advisors. The Los Angeles-based private equity firm provided funding from its Kayne Partners Fund Group, which invests in high-growth technology businesses.

Proficio, founded in Irvine, CA, in 2010, specializes in network monitoring, intruder detection, and cyber-attack response services—saving companies the cost of acquiring sophisticated cybersecurity software and running their own cybersecurity operations center.

Two years ago, Proficio relocated employees from Irvine and the Bay Area to a new headquarters in Carlsbad (about 30 miles north of San Diego) that includes a 24×7 cybersecurity operations center. The company operates a similar security operations center in Singapore.

Proficio plans to use the funding to expand its geographical presence in the Americas, Asia, and Europe, and to add new cybersecurity products and services. The company’s key markets include companies in healthcare and financial services. In a statement today, Proficio said revenue from its managed cybersecurity business has more than doubled annually in each of the last three years.

Nate Locke of Kayne Partners Fund group is joining Proficio’s board as part of the deal. Kayne Anderson manages about $24.5 billion in assets for institutional investors, family offices, and wealthy individuals. The firm has 300 employees in nine U.S. offices.

Author: Bruce V. Bigelow

In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University. Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.