SAN FRANCISCO (PRWEB) December 02, 2020
Mainsail Partners today announced the sale of FairWarning, a global privacy company providing software solutions that are designed to protect data in electronic health records (EHRs), Salesforce and hundreds of other cloud-based applications, to Imprivata, a digital identity company for the healthcare industry. Mainsail invested in FairWarning in 2018 and since then has assisted the company with a number of initiatives to support its growth, including recruiting talent to the management team and Board of Directors.
“We believe this next step in FairWarning’s journey is an incredible opportunity for our employees, customers and partners,” said FairWarning’s Chief Executive Officer, Ed Holmes. “We have found Mainsail to be a terrific partner. Their specialization in building software companies has helped us advance our mission and scale during this critical stage of growth.”
FairWarning was founded in 2005 to protect patient data, helping to create the patient privacy monitoring category. The platform connects data from EHRs and other healthcare applications to help identify impermissible patient record access, including data breaches. Today, 35% of U.S. health systems are monitored by FairWarning’s products and the company was recently recognized as the #1 Patient Privacy Monitoring Solution in the market by Black Book Market Research. The company has also expanded its data monitoring capabilities to applications beyond healthcare, including Salesforce, Office 365, and many other popular applications.
The company was bootstrapped until 2018, when Mainsail invested $60 million and provided support to scale the business. The firm helped FairWarning build out its management team, deliver its application data monitoring solution to new markets and launch an innovative drug diversion solution. By late 2020, the company had grown from a team of 107 at the time of Mainsail’s investment to 153 employees. In addition to building out the executive team, Mainsail helped recruit outside board members Carina Edwards and Guy Churchward.
“We are proud of the work done by the FairWarning management team and employees,” said Michael Anderson, Partner at Mainsail Partners. “It has been rewarding to work with such good people, and all of us at Mainsail wish the combined Imprivata and FairWarning team great success. We believe these two companies are an excellent fit and that together they will create even more value for customers.”
In just the last year, FairWarning has earned a number of accolades, including CIO Bulletin’s 30 Most Innovative Companies To Watch, High Performing Vendor for its patient privacy monitoring solution in response to the COVID-19 crisis by KLAS Research, #1 Patient Privacy Monitoring Solution by Black Book Market Research, and Top Workplace by the Tampa Bay Times.
Mainsail Partners is a San Francisco-based growth equity firm that invests exclusively in fast-growing, bootstrapped software companies. The firm has raised over $1.2 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm’s approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.
As a leader in protecting privacy and securing data stored in mission-critical applications, FairWarning’s platform helps healthcare and enterprise organizations comply with regulations, protect sensitive data, and prevent insider threats. A driving force in building the patient privacy monitoring industry, FairWarning expanded its expertise beyond healthcare to support other highly regulated industries and applications like Salesforce to help customers easily interpret, investigate and detect anomalous user access or behavior. The company combines advanced technologies including machine learning and AI with best practices and managed services to help provide security to organizations across the globe. FairWarning’s product is used by over 350 enterprise customers globally, including 35% of U.S. health systems.