Cofense Announces Additional Investment by BlackRock and Appointment of Tom McDonough to Board of Directors
Strong demand for phishing defense solutions in Q1 2020 led to highest gross margins in company history, validating next phase of growth focused on R&D and global expansion
Cofense, the global leader in intelligent phishing defense solutions, announced the appointment of Tom McDonough to its Board of Directors as well as an additional investment from funds managed by BlackRock Private Equity Partners to support Cofense’s growth strategies. Initially inked in 2018 and expanded in 2019, Cofense’s continued partnership with BlackRock provides additional growth capital to advance research and development as well as further the company’s global expansion.
“We are pleased to build upon our relationship with BlackRock following one of our strongest quarters in company history,” said Rohyt Belani, Cofense co-founder and chief executive officer. “Combined with recent enhancements to Cofense’s leadership structure and the addition of Tom to our board of directors, the company is well positioned to meet growth and profitability targets in the coming year.”
Cofense’s security operations offerings, Cofense Triage and Cofense Vision, help organizations stop phishing attacks in their tracks by detecting, identifying, and rapidly quarantining malicious emails that evade secure email gateways (SEGs) every day. Cofense has close to 2,000 enterprise clients in over 150 countries, representing every major vertical from energy, financial, healthcare to manufacturing and high technology. Since January 2020, Cofense has achieved the Federal Risk and Authorization Management Program (FedRAMP) In Process designation, launched a COVID-19 phishing resource center to help protect organizations and end users during this public health emergency, and expanded its leadership team with key executive additions from organizations such as Proofpoint. Poised for its next phase of growth, Cofense will continue investing in R&D to provide their customers with peak phishing defense across the organization.
As the newest member of Cofense’s board of directors, McDonough brings a proven track record of building and optimizing the performance of highly motivated teams that generate predictable revenue and profitable growth. During his career as an experienced board member and operating executive, including roles with Cisco and Sourcefire, he has managed private, early stage and public companies through international expansion, venture financing, IPOs, acquisitions and integration. McDonough’s extensive experience leading cyber security companies through hyper growth and major market transitions has contributed to the creation of more than $5B in shareholder wealth through two IPOs and four acquisitions at four different companies.
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“It is truly an honor to join Cofense’s team as a board member,” said McDonough. “By putting the customer and innovation front and center, Cofense has developed and sustained a strong portfolio of solutions and established its position as a global leader in intelligent phishing defense. Looking ahead, I am very confident that Cofense’s vision, focused execution, expert team and robust product pipeline will enable the company to add to its history of growth and development.”
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