Outpost24 acquires Specops for enhanced user security and secures further funding to continue growth
November 2021 by Patrick LEBRETON
Outpost24 announce the acquisition of Specops Software, a leading provider of password management and user authentication solution, as well as securing another SEK 50 million funding from Swedbank Robur and Alcur Fonder.
The Specops acquisition will further enhance Outpost24’s full stack security assessment offering and provide enterprises insight into specific user access to reduce cyber risk across the entire attack surface. Specops protects critical business data by blocking weak or compromised passwords and securing user authentication. Their automated solutions are natively integrated with Active Directory, making it easy to enforce password policy and prevent unauthorized access.
With password abuse and exploitation of known vulnerabilities cited as the top initial access vectors in successful cyberattacks, the combination will extend the coverage of Outpost24’s full stack security assessment to the all-important user dimension and deliver enhanced assessment reach to mitigate Ransomware and other common attacks.
The latest growth funding of SEK 50 million from existing institutional investors, coming less than a year after the previous round, is a reflection of the strong market momentum that Outpost24 has built with new product innovations and customer growth.
This is the second significant investment of the year for Outpost24, who has acquired Spanish threat intelligence provider, Blueliv in July 2021. By adding threat intelligence and now IAM capabilities, the newly combined company will boast 280+ employees and continue to make security posture management faster and easier for their growing customer base worldwide.