The partnership will allow ShadowDragon to extend its impact as increased sophistication of cyber-attacks heightens demand.
TYSONS, VA (December 9, 2021) – Ascend Capital Group (“Ascend”), is pleased to announce its most recent transaction in the cybersecurity space, serving as the exclusive financial advisor to ShadowDragon on its strategic investment by Sverica Capital Management (“Sverica”). The investment comes as demand for innovative cybersecurity solutions surges.
Founded in 2015, ShadowDragon is a leading threat intelligence software provider focused on offering open-source intelligence (OSINT) data and tools to both public sector and commercial clients to help streamline investigations and safeguard assets. The company’s flagship product, SocialNet, helps aggregate data from 140+ different platforms across the clear, deep, and dark web to uncover identities, networks, and connections of potential threat actors. ShadowDragon offers a number of additional products, including OIMonitor, MalNet, and Spotter, that serve as useful tools to security teams across a wide array of use cases.
“I founded ShadowDragon with the mission of providing the good guys with the right tools to fight the bad guys…and win,” said Daniel Clemens, Founder and CEO of ShadowDragon. “We have made great strides in making tools to augment the capability of the good guys and level the playing field against complex adversaries. By combining our exceptional team, market need, and technology with the expertise and resources of Sverica, ShadowDragon has the opportunity to grow faster and accelerate innovation to help customers proactively respond to even the most advanced threats.”
Frank Young, Managing Partner at Sverica, commented, “ShadowDragon has maintained tremendous growth without a formal sales effort, demonstrating the value customers receive and the opportunity to increase the awareness and reach of their differentiated products. We are thrilled to partner with Daniel and the team as we look to further invest in the business to drive the next phase of growth.”
Clemens will continue to lead the company, while Young and Michael Dougherty, Vice President at Sverica, will join ShadowDragon’s Board of Directors as part of the transaction.
“Going through the M&A process requires trust and someone that walks alongside you to help navigate the complexities,” added Clemens. “Working with Ascend made the experience less overwhelming as they provided guidance on all of the areas that I didn’t have any clue about, while pushing our team to keep up the pace to the very end. I can’t say enough good things about the Ascend team. They are precise, competent, strive for excellence, and root their business in principles that foster trust through the entire process. Most importantly, they helped us find a great partner and a great outcome.”
“As a bootstrapped business, the innovative products Daniel and his team created and the level of clients they serve is nothing short of impressive,” commented Eric Parekh, Managing Director at Ascend. “Even more admirable is their commitment to disrupt and eradicate human trafficking by donating their tools and training. Sverica’s experience, collaborative approach, and respect for what Daniel built make them the perfect partner for ShadowDragon.”
This strategic investment was effective December 1, 2021.
