The Private Equity team advised Sunstone Partners and NetSPI in connection with NetSPI's $90 million in growth funding led by KKR, with participation from Ten Eleven Ventures. The investment will be used to further accelerate NetSPI's rapid growth by expanding the company's cybersecurity and client experience teams, investing in product innovation, and deepening operations across U.S. and international markets.
Headquartered in Minneapolis, MN, NetSPI is the leader in enterprise security testing and attack surface management, partnering with nine of the top 10 U.S. banks, three of the world's five largest health care companies, the largest global cloud providers, and many of the Fortune® 500. NetSPI is a portfolio company of growth equity firm Sunstone Partners, KKR, and Ten Eleven Ventures.
Founded in 2015, Sunstone Partners is a growth-oriented private equity firm that makes majority and minority investments in technology-enabled services and software businesses. Recently recognized as one of Inc.'s 2020 PE 50 founder-friendly private equity firms for entrepreneurs, the firm seeks to partner with exceptional management teams, often as their first institutional capital partner, to help accelerate organic growth and fund acquisitions. The firm has $800 million of committed capital to its first two funds.
The Goodwin team was led by Brian McPeake and Brian McNeil.
For additional details on the investment, please read the press release.