Cigital, Inc., announced today the completion of a $50 million equity investment by LLR Partners. The new investment will support the software security services and solutions company in expanding its growth in existing markets, gaining traction in new verticals and geographical expansion.
“Cigital’s rapid growth has outpaced that of the dynamic software security industry, where significant tailwinds will only continue to accelerate adoption,” said David Stienes, partner at LLR. “John, Gary and the management team at Cigital have a long history of working together and have positioned Cigital for strong growth based on a clear, strategic vision for its future. Cigital serves as a benchmark investment for LLR as we expand our portfolio in IT security.”
Cigital specializes in software security for healthcare, financial services and telecom enterprise worldwide. The company helps to design, build and maintain secure software applications and offers a variety of solutions including consulting, training, security analysis products and cloud-based services.
“LLR’s deep domain knowledge in security, IT services and our end-markets will be invaluable as we scale our business,” said John Wyatt, CEO of Cigital. “Enterprises seldom have the expertise or resources to address software security themselves and are increasingly turning to outsourced providers like Cigital. Partnering with LLR enables Cigital to help more companies improve the security and reliability of their applications.”