Detectify Sees Insight Partners Acquire Majority Stake, Boosting Product Innovation
Deal News | Nov 21, 2024 | Osborne Clarke
Detectify, an Attack Surface Management platform, has completed a transaction in which global software investor Insight Partners acquired a majority stake. The deal, concluded in October 2024, aims to inject new funding for accelerating product innovation and driving growth. Insight Partners, a repeat investor in Detectify through previous funding rounds, further solidifies its commitment to Detectify's vision. Balderton, a venture capital firm that led Detectify’s Series B funding, remains a minority stakeholder. The acquisition aims to advance application security testing through innovative approaches. Legal advisory was provided by Osborne Clarke, with the team led by Mikael Nelson and Beatrice Suomela.
Sectors
- Cybersecurity
- Private Equity and Venture Capital
- Legal Advisory
Geography
- Sweden – Detectify and Osborne Clarke's involvement in the transaction indicates its relevance to Sweden.
- Global – Insight Partners is a global investor, emphasizing the international scope of the acquisition.
Industry
- Cybersecurity – Detectify operates within the cybersecurity industry, focusing on application security testing.
- Private Equity and Venture Capital – Insight Partners and Balderton are both involved in private equity and venture capital, providing funding and investment support.
- Legal Advisory – Osborne Clarke is a legal advisory firm involved in the transaction, advising Detectify.
Financials
- Not Specified – The specific financial terms of the deal were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Detectify | Target Company | Company | An Attack Surface Management platform for AppSec teams. |
| Insight Partners | Acquirer | Company | A global software investor acquiring a majority stake in Detectify. |
| Balderton | Minority Stakeholder | Company | A Venture Capital firm that led Series B funding for Detectify. |
| Osborne Clarke | Legal Advisor | Company | Provided legal advisory to Detectify during the transaction. |
| Mikael Nelson | Corporate Partner at Osborne Clarke | Person | Led the legal team advising Detectify. |
| Beatrice Suomela | Senior Associate at Osborne Clarke | Person | Part of the legal team advising Detectify. |