Foresite, a global provider of managed security, cyber security consulting, and compliance services, has partnered with venture capital company Elsewhere Partners – a growth-stage venture capital firm investing in business software companies – to accelerate and expand their service offering.
Foresite is an Overland Park, Kansas-based managed security service provider (MSSP) that was founded in 2013. It has developed ProVision – a software platform for threat detection, monitoring, and compliance that is serviced through their two SOCs (Security Operations Centers) that are staffed with security analysts who provide round-the-clock monitoring for Foresite’s customers.
Partnering with venture capital firm Elsewhere Partners would allow Foresite to accelerate their organizational growth, marketing development, sales, geographic expansion, and enhance further product development.
“We are excited about the future of Foresite and are confident their state-of-the-art software platform and seasoned management team,” said Chris Pacitti, founder of Elsewhere Partners. “In conjunction with the growing cybersecurity demand in the mid-market, it will enable Foresite to grow significantly in the short-term and help keep their customers safe.”
Foresite’s Board of Directors
Elsewhere Partners represents the first institutional capital raised by Foresite. In addition to the investment of capital, Rita Selvaggi, one of Elsewhere’s Operating Advisors, will join Foresite’s Board of Directors. Rita Selvaggi was previously CMO of AlienVault and is a seasoned tech executive with deep security market expertise.
“We are excited to partner with Elsewhere Partners,” said Marc Brungardt, President at Foresite. “Their proven track record and experience growing similar software businesses positions them as more than just a capital partner.”
Elsewhere Partners would combine transitional capital with transformational expertise to help companies achieve exit readiness on their founder’s timetable.
“We intend to leverage their areas of expertise as we accelerate our go-to-market plans,” said Robin Mayo, CEO of Foresite. “Timing is ideal for this partnership as our business is growing rapidly and we see imminent opportunities to capitalize on together.”