Iboss is a Boston-based SaaS security company that provides a secure access service edge (SASE) platform. Its service centralizes management of security across networks and edge devices, allowing firms to move away from costly on-premises hardware and device-installed software. By delivering security via the cloud, Iboss says customers can more quickly scale and reconfigure distributed workforces that collaborate over tools like Microsoft and Zoom. The company reported it has more than 4,000 customers, including a large number of Fortune 50 companies. Iboss announced it will use the latest funding to meet surging demand driven by the COVID-19 pandemic and the shift to remote work. The article notes the SASE market is intensively competitive. iboss offers a cloud-based security platform that actively monitors all network traffic to prevent large-scale data breaches caused by malware. The company has been profitable since launch and operated without outside investment for 10 years prior to this round. It raised a $35 million Series A from Goldman Sachs’ Private Capital Investing group. Founders twin brothers Peter and Paul Martini said the raise was aimed at investor validation and relationship-building ahead of an IPO planned in roughly the next 24 months. The company reported a valuation in the round of “more than $500 million.” iboss has committed $13 million in cash to a new global headquarters in San Diego to support increasing R&D and global expansion.

Total raised

$180M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2021