Apptega

Overview

Apptega is a cybersecurity and compliance management platform, founded in 2017 by Armistead Whitney, with its headquarters located in Atlanta, Georgia. The company specializes in providing simplified solutions for managing and automating cybersecurity compliance across various frameworks. Apptega has been instrumental in supporting IT professionals and organizations to efficiently manage their cybersecurity programs. As of recent updates, the company has raised approximately $38.4 million in funding to enhance its offerings and expand its market reach.

Recent Developments

  • April 2024: Apptega raised $15 million in growth capital from Mainsail Partners, aiming to double down on investments in compliance technology development and channel investments. This move signifies Apptega's strategic focus on enhancing its platform's capabilities to support MSPs and IT teams in their compliance efforts.1
  • June 2023: Apptega launched "Edge," a new product designed specifically for Managed Service Providers (MSPs). It integrates compliance management with cyber insurance, providing a comprehensive solution for cybersecurity and compliance management.2
  • May 2023: Apptega expanded its partnership capabilities and product offerings to be featured in marketplaces like Pax8, aiming to reach a broad spectrum of IT professionals and businesses.3
  • March 2022: Secured a $37 million funding from Mainsail Partners with a vision to enter new markets and enhance product offerings, aiming to solidify its position in the cybersecurity management sector.4

Company Information

AttributeInformation
Founding Date2017
HeadquartersAtlanta, Georgia, USA
FounderArmistead Whitney
Funding Raised$38.4M
Revenue Growth2,236%
Key InvestorsMainsail Partners
IndustryCybersecurity and Compliance Management
Number of EmployeesApproximately 100+
Major ProductsCybersecurity compliance platform

Early History

Apptega was conceptualized and founded in 2017 by Armistead Whitney, emerging from a small incubator to address the growing cybersecurity and compliance challenges faced by organizations globally. Initially, the company focused on simplifying the complexity of managing compliance with diverse regulatory frameworks. Building upon this foundation, Apptega rapidly expanded its capabilities, capturing the attention of industry stakeholders and securing investments to fuel further development and market penetration.

Company Profile and Achievements

Apptega's business model revolves around providing a comprehensive platform that assists organizations in building, managing, and reporting their cybersecurity compliance programs. The platform supports over 25 frameworks, making it versatile for different compliance needs across industries such as healthcare, finance, and government.

  • Key Achievements:
    • Successfully achieved 2,236% revenue growth, exemplifying its significant market traction.
    • Secures top ratings in customer satisfaction and success metrics frequently featured in industry reports.
    • Recognized as a leader in G2’s Security Compliance Software category for consecutive quarters, reflecting consistent customer appreciation.
  • **Strategic Initiatives: **
    • Launch of "Edge" marks a strategic pivot toward MSPs, aiming at integrated cybersecurity solutions including cyber insurance.
    • Extensive partnership programs to drive joint growth with service providers and consultants, fostering a robust network for continuous compliance solutions.

Current Operations and Market Position

Apptega currently leads in creating solutions that streamline governance, risk, and compliance (GRC) initiatives. The company's emphasis has shifted toward enabling MSPs with comprehensive tools that bundle cyber insurance and compliance management.

  • Market Impact:
    • Apptega's platform simplifies complex compliance procedures, making it an essential tool for organizations undergoing digital transformation.
    • Advanced capabilities like framework crosswalking and comprehensive reporting enable businesses to align with multiple cybersecurity standards efficiently.

Conclusion

Apptega holds a prominent place in the cybersecurity and compliance industry as a pioneer of simplified, automated solutions that address essential security challenges. Moving forward, Apptega is strategically positioned to leverage ongoing investments to enhance its product offerings and continue its trajectory of growth. With a focus on expanding its footprint among managed service providers and broadening its compliance capabilities, Apptega is poised to maintain its leadership in transforming compliance management.

References

  1. CRN - Apptega Raises $15 Million
  2. Newsoffer - Apptega Launches Edge
  3. Pax8 - May 2024 Update
  4. Mainsail Partners - Apptega Growth Investment

Footnotes

  1. Apptega Funding Announcement

  2. Newswire - Apptega Launches Edge

  3. Circadian Ventures - News

  4. Built In - Apptega Funding