The amount of the deal was not disclosed. In conjunction with the funding, Andrew Collins, a Managing Director with Summit Partners, joined the InfoArmor Board of Directors.
The company intends to use the funds to pursue future acquisition opportunities and other expansion efforts. It also named current President and CFO John Schreiber to the role of Chief Executive Officer. In his new role, Schreiber’s primary focus will be on optimizing sales, operations and strategy. Founder and CEO Drew Smith will assume the role of Executive Chairman where he will remain focused on leading product innovation. Smith will also continue his commitment to building the team and strategic partnerships.
Founded in 2007, InfoArmor delivers digital identity and financial wellness protection as well as and threat intelligence and investigative services to more than 600 businesses and government agencies.
The company’s offering includes:
– PrivacyArmor®, an employee identity protection solution, and
– VigilanteATI™, an advanced threat intelligence platform to improve data security posture.