Published: Jan 05, 2022
Focus: Growth Capital
Quorum has been acquired by UK private equity firm Livingbridge, and the transaction will help the business to continue its impressive growth journey. This realisation represents the 16th profitable private company exit for the Maven VCTs since January 2017.
Quorum is headquartered in Edinburgh, one of the world’s leading centres for cyber security talent and innovation, and provides professional and managed security services including a fully managed detect and response capability that enables clients to operate confidently in an increasingly hostile environment.
Since the Maven VCTs first invested in June 2020, Quorum has increased both annual recurring revenues and headcount fourfold and entered the US market, as well as making several key hires including the appointment of a Chairman and Finance Director. Critically, Quorum has strengthened its partnership with Microsoft and been recognised by industry commentators as a leading player in its sector.
High-profile cyber attacks, such as the recent assault on SolarWinds and its clients, election security, as well as ongoing discussions around data privacy, ensure that cyber security continues to make the headlines. Given the extensive financial and reputational damage often resulting from a breach, most corporates now view cyber security and the need to protect sensitive information as a top priority. However, significant expertise is required to combat the ever evolving threat, which leads many companies to seek an outsourced managed security solution rather than investing heavily to create an in-house capability.
Quorum has capitalised on this trend to establish itself as a leading player with a reputation for offering customer-centric and highly flexible solutions across a range of sectors, using cutting edge software tools, alongside a highly credible and scalable technology platform as part of its partnership with Microsoft.
“We are delighted to see the talented team at Quorum Cyber enter the next phase of their journey after a highly successful partnership with Maven. They have demonstrated an ability to consistently win and service corporate clients across a variety of sectors and geographies, and in doing so have delivered significant recurring revenue growth. It has been a pleasure working with Federico and his team and we are proud to have been able to help position the business to capitalise on the significant growth within the global cyber security sector.
David Milroy, Partner at Maven
“This event represents a significant milestone in the story of Quorum Cyber. Our successful partnership with Maven has enabled us to accelerate growth and scale our business and has demonstrated what we can achieve with the right team and direction. Personally, I’m incredibly proud of what we have achieved during our time with Maven. The business is ideally positioned for continued rapid growth, and I look forward to working as closely with our new private equity partner, Livingbridge.”
Federico Charosky, CEO at Quorum Cyber
Watch Quorum's CEO Federico Charoasky and Maven's David Milroy discuss the strong working relationship they had built up post investment and how Maven's financial and strategic support has enabled the business to grow.