Ohio investor provides uniquely positioned cybersecurity software firm with crucial capital to drive growth
CLEVELAND, April 20, 2022 /PRNewswire-PRWeb/ -- Venture debt financer River SaaS Capital has added software company Cytellix Corporation (Cytellix) to its expanding portfolio of high-growth companies, providing crucial capital to help the Arizona firm scale its patented cybersecurity SaaS platform. River SaaS Capital has agreed to provide up to $5 million in financing based upon the terms of the deal.
Launched in 2017 as the cyber division of Information Management Resources, Inc. (IMRI), Cytellix Corporation year-on-year growth enabled a spin-out in 2021 and recently completed a major rebranding effort, highlighting their innovative SaaS platform that brings cybersecurity, compliance and risk management under one patented platform.
"We are very excited to welcome Cytellix to our portfolio," said River SaaS Capital Chief Investment Officer Wendy Jarchow. "There are very few companies capable of combining such strong SaaS expertise with decades of proven cybersecurity experience."
"As we searched for a partner to provide growth capital, we were immediately attracted to River SaaS Capital because of their knowledge in our space," added Cytellix President and CEO Brian Berger. "They understand how SaaS businesses like ours operate and how to provide the kind of flexible support we need to scale rapidly."
Cytellix's patented SaaS platform correlates cyber compliance data, IT, cloud and IOT assets into a 24/7 advanced threat detection and response platform. Combined with in-house AI solutions and data from third-party security products, the platform can be customized to fit the needs of virtually any user, from small business owners to massive enterprise clients.
This unique solution immediately attracted the attention of River SaaS Capital, whose team has developed a strong understanding of the cybersecurity industry landscape.
"We always try to offer value to our portfolio companies beyond simply writing a check," said Jarchow. "In this case, we have access to strong cybersecurity experts who can help provide strategic guidance and reach."
"It's rare to find an investor that specializes in supporting SaaS Companies and even more rare to find one who also has strong knowledge of our specific industry," added Berger. "We have a great partner in River SaaS Capital, and we look forward to working together to take Cytellix to the next level."
About River SaaS Capital
River SaaS Capital provides alternative venture financing to growing software-as-a-service (SaaS) businesses in the U.S. River SaaS offers fast, flexible financing solutions, typically providing non-dilutive, revenue-based financing to qualified new borrowers in 36-48 month term loans and growing with its portfolio companies over time (via either debt and/or equity). For more information, check out our funding solutions and follow @riversaascap on Twitter.
About Cytellix Corporation
We believe cybersecurity is more than just using technology to solve problems. That is why we have created a first-of-its kind SaaS platform that brings together the full spectrum of cybersecurity, compliance, and risk management solutions under one umbrella.
Our mission is to protect businesses small and large from threats unseen. Not just today, but for the future. With a plan of action that minimizes time and cost disruption and patented technology that evolves as quickly as the threat evolves, preventing attacks before they occur.
We provide a highly-optimized, continually adjusting security framework that supports organizations through their entire life cycle. And we invent technology that solves not just security and compliance problems, but business problems. In real time. At all times.
Amy Martin, River SaaS Capital, 1 216-535-4106, [email protected]
Wendy Jarco, River SaaS Capital, 440-471-8262, [email protected]
SOURCE River SaaS Capital