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Business Observer Tuesday, Jun. 12, 2018 5 months ago

Area data security firm scores $60M investment

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Clearwater-based FairWarning will use the capital to spur growth.

CLEARWATER — Data security firm FairWarning received a $60 million growth equity investment from Mainsail Partners, a San Francisco-based growth equity firm.

FairWarning provides software to protect the health, wealth and personal information of businesses that need to protect sensitive data and support compliance requirements, particularly health care and financial services companies.

According to a press release, FairWarning has been profitable for the past 10 years but has been primarily focused on customer success. The Mainsail investment will be used to scale and accelerate product innovation and solve big industry challenges surrounding privacy and security.

"This capital and partnership with Mainsail will support our primary goal of delivering more value to customers faster than anyone in the industry," states Kurt Long, CEO of FairWarning, in the press release. "We will invest in key areas of our business to provide more value to our customers in the health, wealth and banking industries, where we already have significant traction. We appreciate that Mainsail shares our customer-centric approach to growing our business, and we feel their network and extensive experience building software companies augments our team well.”

As part of the investment, Mainsail executives Michael Anderson, Taylor McKinley and David Farsai will join FairWarning’s board of directors.

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