Reciprocity Announces $60M Growth Investment from Francisco Partners
Press Releases — Sep 08, 2022
SAN FRANCISCO, Calif. – September 8, 2022 – Reciprocity (the “Company”), a leader in information security, risk, and compliance, today announced it has closed on a $60M strategic growth investment from Francisco Partners (“FP”), a leading global investment firm that specializes in partnering with technology businesses. This investment will support Reciprocity to build on the momentum of its powerful new approach to risk management with accelerated product innovation and expansion of go-to-market activities.
Following the strong reception and market validation of the Company’s pioneering approach to cyber risk management, Reciprocity’s Risk Observation, Assessment, and Remediation (“ROAR™”) Platform has become an essential technology solution for businesses by tying an organization’s risk directly to its business strategy.
“Our vision is a world where risk is automatically identified and rapidly assessed in context of a customer’s business objectives and can be communicated in a way that everyone can understand. With our ROAR platform, companies can easily see, understand, and take action on their IT and cyber risks to quickly identify what is driving cyber risk for the business,” said Michael Maggio, CEO and Chief Product Officer for Reciprocity. “With this investment from Francisco Partners, we’ll be able to accelerate product innovation and offer new levels of functionality and deeper intelligence with our technology, providing our customers with risk insight that is quantified and actionable.”
The Reciprocity ROAR™ Platform provides organizations with a game-changing level of actionable risk insight – at both the business process level and at the executive corporate level – to make risk more manageable. The Platform delivers rich, expert-provided guidance that enables companies to protect their most valuable assets, quantify the value of security investments, accelerate business initiatives, and effectively inform leadership on the levels of risk and improvements.
“Michael and the team have done an exceptional job building Reciprocity’s approach to risk management, specifically with its ROAR Platform. As Reciprocity enters its next phase of growth, we are excited to partner with the team and help scale the business and expand into new markets to serve the needs of CISOs and business leaders,” said Peter Gingold, Managing Director at Francisco Partners.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
Reciprocity is pioneering a first-of-its-kind approach to IT risk management that ties an organization’s risk directly to its business strategy. The fully integrated and automated Reciprocity ROAR™ Platform empowers security executives to communicate the direct impact of risk on high-priority business initiatives to key stakeholders, helping them make smarter, more informed decisions. With Reciprocity, InfoSec teams can strategically support their organization and foster company growth by optimizing resources and mitigating expensive data breaches, system failures, lost opportunities and vulnerabilities with their customers’ data.
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