The Download: Dulles-based Cigital secures $50M from private equity firm LLR Partners

October 6, 2013

Dulles-based software security firm Cigital shoveled $50 million into its coffers last week from private equity shop LLR Partners, money the company plans to use to reach a larger portion of its current markets and expand into new ones.

Under chairman and chief executive John Wyatt, Cigital provides consulting, training and software products to companies seeking to build secure software.

The company got its start in 1992 with contracts from the Defense Department and NASA. Today, Cigital’s clients consist primarily of financial services, health care, insurance, technology and telecommunications companies.

In a release, the company said its offerings “go beyond identification of security issues and offer effective remediation solutions.”

LLR Partners recently opened an Arlington office as it expands a security, defense and government investment practice focused in part on I.T. security, according to a news release.

Introhive adds investor

District-based IntroHive said last week it has received an investment from customer management software firm Salesforce.com. The terms of the deal were not disclosed.

IntroHive’s software searches through an employee’s business contacts to identify potential sales prospects for their company.

“Our customers are seeing great value from the platform. This investment will help us get it in front of more like-minded companies sooner,” co-founder and chief executive Jody Glidden said in a news release.

The company’s prior investors include Build Ventures, CIT GAP Funds, Fortify Ventures, Growthworks Atlantic and the New Brunswick Innovation Foundation.

General partner for Mach37

Robert J. Stratton III will serve as general partner of the Center for Innovative Technology’s recently created Mach37 Cybersecurity Accelerator, the organization announced last week.

Young cybersecurity companies apply to take part in the accelerator’s 90-day program, which includes access to mentors who help the firms hone their technology, interact with customers and find capital.

Stratton previously worked at Polymathics, a start-up advisory and strategy firm. His resume also includes roles at Symantec Research Lab, In-Q-Tel and UUNet.

He will join managing partner Rick Gordon, the former vice president of product management at KEYW, and general partner Dan Woolley, Dell’s former s executive director of strategic global alliances.

Steven Overly covers the business of technology, biotechnology and venture capital in the Washington region for The Washington Post and its weekly Capital Business publication. In that capacity, he has written about start-up struggles, investment trends and major drug discoveries.
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