Maven Capital Partners has sold its stake in cybersecurity services provider Quorum Cyber to Livingbridge.
The Edinburgh-headquartered firm, founded in 2016 by CEO Federico Charosky (pictured), delivers managed detect and response capabilities to teams and organisations globally including banks, cloud providers and major brands.
Maven realised a 6.5x return on its investment with the deal for Quorum, which it first invested in in 2020 and has since increased both annual recurring revenues and headcount fourfold as well as entering the US market.
“Quorum Cyber has a very strong reputation offering best-in-class solutions to its clients,” said Matthew Jacobs at Livingbridge.
“Federico Charosky is an inspirational leader with deep industry expertise, and we look forward to working closely with him and the management team to fulfil the company’s potential.
“With the pandemic further highlighting the need for cyber security solutions, there is a tremendous opportunity for the company to accelerate its growth trajectory.”
Charosky added: “We are delighted to be entering the next chapter of our growth journey with Livingbridge, a partner with the experience and resources to help us achieve our vision of becoming one of the top 10 Microsoft Security partners worldwide.”
The investment builds on Livingbridge’s strong track record in the cybersecurity space, which includes investments such as Adarma and TitanHQ.