Qmulos Announces Strategic Growth Investment from PSG
Funding to Accelerate Expansion with a Focus on Go-To-Market Strategies and Product Innovation
Chantilly, Virginia – Qmulos, a pioneering cybersecurity software and professional services firm driving the Converged Continuous Compliance™ revolution in enterprise security, compliance and risk management automation, today announced a strategic growth investment from PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth. Financial terms were not disclosed.
In today’s cybersecurity environment, agencies and enterprises are facing countless security threats amidst a growing array of regulatory requirements. Qmulos leverages full-cycle, data-centric compliance automation to assist public-sector agencies, government contractors and commercial enterprises to enable initiatives to transform inefficient and ineffective legacy processes into modern, streamlined risk management programs capable of dealing with the complex and evolving global cyber risk challenges. Leveraging diverse sources of enterprise security and compliance data through its partnership with Splunk, a leading big data security analytics platform, Qmulos supports evidence-based risk management decisions by providing real-time insights on overall enterprise risk posture.
The Qmulos platform enables customers to continuously monitor security controls to meet compliance requirements across a wide spectrum of regulatory frameworks, including but not limited to:
- NIST CSF (National Institute of Standards and Technology Cyber Security Framework) and NIST SP 800-53
- CMMC (Cybersecurity Maturity Model Certification)
- HIPAA (Health Insurance Portability and Accountability Act)
- SOX (Sarbanes-Oxley Act)
- ICS 500-27 (Intelligence Community Standard for Enterprise Audit)
In the federal ecosystem, the Qmulos automated compliance technology has proven to be valuable for both government agencies and their partners in ensuring adherence to critical security compliance regulations, most notably NIST and CMMC. In the private sector, a growing list of enterprises are relying on the Qmulos platform to drive timely and accurate risk visibility while reducing time-to-compliance lag and increasing their competitive advantage through accelerated third-party risk accreditation.
“We’re proud to offer a solution to improve operational security while simplifying time-consuming and costly IT compliance tasks,” said Matt Coose, Founder and CEO of Qmulos. “We look forward to partnering with PSG as we aim to serve more organizations with a commitment to continuing the evolution of our platform to meet our customers’ dynamic needs.”
“Today’s challenging risk landscape and regulatory environment underscores the clear need for innovation in security and compliance. We believe that Qmulos’ ability to monitor controls in an automated and continuous manner ultimately creates a more secure environment while creating significant operational efficiencies for its customers,” said Rick Essex, Managing Director at PSG. “We’re thrilled to partner with Matt and the rest of Qmulos’ talented team as they continue to address the significant opportunity to shape the future of risk management.”
“From our point of view, companies and institutions must begin the transition away from traditional, manually intensive and often error-prone compliance programs,” commented Bill Ballhaus, Senior Advisor to PSG. “We believe Qmulos’ technology provides a predictive, data-forward solution to aid this transition, and we’re excited to work with the team to bring this solution suite to a broader range of security professionals.”
AGC Partners served as financial advisor to Qmulos, and Foley and Lardner LLP served as legal advisor to the company, with additional support from Badger CPA and Aronson LLC. Latham & Watkins served as legal advisor to PSG and Ernst & Young served as the firm’s financial advisor.
Qmulos is a pioneering integrated compliance, security and risk management automation provider delivering the innovative power of Converged Continuous Compliance™ through its flagship Q-Compliance and Q-Audit technology platforms. Qmulos enables organizations to achieve high compliance confidence while delivering a powerful and engaging compliance experience across all functions and phases of the enterprise compliance lifecycle. Founded in 2012, Qmulos works with public and private sector enterprises to empower and accelerate their strategic transformation towards automated continuous monitoring and real-time risk visibility across nearly all systems, all Splunk-compatible data sources, and current and emerging cybersecurity and professional services compliance requirements.
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 100 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.