Cybersecurity Firm Proficio Raises $12M in Private Equity Round

Proficio, a Carlsbad, CA-based startup providing cybersecurity protection services for middle market companies, has raised $12 million in an investment round led by Kayne Anderson Capital Advisors. The Los Angeles-based private equity firm provided funding from its Kayne Partners Fund Group, which invests in high-growth technology businesses.

Proficio, founded in Irvine, CA, in 2010, specializes in network monitoring, intruder detection, and cyber-attack response services—saving companies the cost of acquiring sophisticated cybersecurity software and running their own cybersecurity operations center.

Two years ago, Proficio relocated employees from Irvine and the Bay Area to a new headquarters in Carlsbad (about 30 miles north of San Diego) that includes a 24×7 cybersecurity operations center. The company operates a similar security operations center in Singapore.

Proficio plans to use the funding to expand its geographical presence in the Americas, Asia, and Europe, and to add new cybersecurity products and services. The company’s key markets include companies in healthcare and financial services. In a statement today, Proficio said revenue from its managed cybersecurity business has more than doubled annually in each of the last three years.

Nate Locke of Kayne Partners Fund group is joining Proficio’s board as part of the deal. Kayne Anderson manages about $24.5 billion in assets for institutional investors, family offices, and wealthy individuals. The firm has 300 employees in nine U.S. offices.

Bruce V. Bigelow was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Follow @bvbigelow

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