Netwrix, an Irvine, Calif.-based cybersecurity vendor, received a majority investment from TA Associates.
Members of the Netwrix senior management and existing investor Updata Partners will invest alongside TA, and will maintain a significant equity interest in the company. The amount of the deal was not disclosed.
The company intends to use the proceeds to expand its portfolio of data security solutions to its customers globally.
Founded in 2006 and led by Steve Dickson, chief executive officer, Netwrix provides a data security platform which simplifies how professionals control sensitive, regulated and business-critical data, regardless of where it resides. More than 10,000 organizations worldwide use its solutions to secure sensitive data, realize the full business value of enterprise content, pass compliance audits with less effort and expense, and increase the productivity of IT teams and knowledge workers.
Joining the Netwrix board in conjunction with this transaction are Michael Libert, Harry Taylor and Amit Jain of TA Associates; and independent directors Dan Mayleben, chief executive officer at 2ndWave Software, and Matt Dircks, chief executive officer at BeyondTrust. They join existing board members Jon Seeber of Updata Partners, independent director Brian Turner and Steve Dickson of Netwrix.