LOS ANGELES, July 12, 2023 – Marlin Equity Partners (“Marlin”) is pleased to announce that it has acquired CyberGRX, a leading provider of Third-Party Cyber Risk Management (TPRM) software. Equipping organizations with complete third-party cyber risk intelligence, CyberGRX delivers a robust cyber risk data exchange, predictive risk insights and a portfolio-wide view of security gaps. CyberGRX will be merged with ProcessUnity, an existing Marlin portfolio company, creating a software and data platform that accelerates customers’ ability to identify, assess, analyze and ultimately reduce risk within their ecosystems. Under terms of the transaction, ProcessUnity and its investors acquired CyberGRX, whose existing shareholders participated in the deal and will retain a minority stake in the combined company.
“The combination between ProcessUnity and CyberGRX represents an opportunity to revolutionize TPRM and transform how organizations assess service providers,” said Sean Cronin, CEO of ProcessUnity. “In the short term, our customers will benefit from a comprehensive solution that combines program workflow, validated vendor assessment data and artificial intelligence, safeguarding their critical assets, while significantly reducing program costs. Over time, we expect our expertise and forward-thinking innovators will introduce next-generation technology that will seismically shift how we manage cybersecurity and third-party risk. We’re thrilled to combine two customer-first teams and two market-recognized platforms to amplify our value to the ecosystem.”
“Since inception, CyberGRX has advocated for and improved upon methodologies to reduce risk and enable security and risk professionals to collaborate on the cybersecurity and risk management challenges experienced at the highest levels of the enterprise,” said Fred Kneip, CEO of CyberGRX. “Joining forces with ProcessUnity should push our endeavor farther and faster, allowing professionals to more effectively demonstrate the value of their own risk management program, while also offering a new level of collaboration between companies and trusted vendors to reduce risk on a global scale.”
“We are excited to support the combination of ProcessUnity and CyberGRX, two businesses that have individually pioneered how enterprises assess, manage and reduce cyber and third-party risk. We believe that the joint company can become a standard risk database for vendor assessments and cyber risk data, while continuing to provide innovative software solutions to the most critical risks companies face,” said Peter Chung, a managing director at Marlin. “We’re looking forward to having the CyberGRX team and investors onboard as we continue to bring artificial intelligence and machine learning capabilities to market,” added Hemal Patel, a principal at Marlin. “The strategic acquisition of CyberGRX underscores both ProcessUnity’s leadership in the TPRM market and our ongoing commitment to drive innovation to meet customers’ needs.”
Latham & Watkins served as legal advisor to ProcessUnity. Piper Sandler acted as financial advisor, and Cooley LLP served as legal advisor to CyberGRX. Financial terms of the transaction were not disclosed.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $8.5 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 200 acquisitions. The firm is headquartered in Los Angeles, California, with an additional office in London. For more information, please visit www.marlinequity.com.
About ProcessUnity
ProcessUnity is a leading provider of cloud-based applications for third-party risk and cybersecurity risk management. The ProcessUnity platform unifies how organizations assess, measure, and mitigate risk through automation. Built by a team of risk experts and implemented within the world’s leading enterprises, the company’s solutions align programs and people to create a well-rounded defense against critical business risks. Headquartered outside of Boston, Massachusetts, ProcessUnity has earned recognition from leading analyst firms, customers and partners. For more information, visit www.processunity.com.
Contacts:
Peter Spasov
(310) 364-0100
pspasov@marlinequity.com
Gasthalter & Co.
marlinequity@gasthalter.com