The amount of the deal was not disclosed. Following the deal, AppRiver’s founders, Michael Murdoch and Joel Smith, will retain a minority stake in the company and the current management team will continue to run operations from its headquarters in Gulf Breeze.
The company intends to use the funds to expand operations on a global scale and accelerate growth initiatives.
Founded in 2002, AppRiver provides cloud-based cybersecurity and productivity software and services, including web malware protection, email encryption, secure archiving and email continuity services. The company is also among the world’s largest providers of Microsoft Office 365 and Secure Hosted Exchange. Today, more than 53,000 companies worldwide use AppRiver.
AppRiver also maintains offices in Georgia, Texas, New York, Switzerland and Spain.