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Funding: Southfield Capital Invests in Protos Security

Protos Security, an unconventional managed security service provider (MSSP), has scored private equity funding from Southfield Capital. Protos will use the investment to upgrade its software and drive market growth, according to a prepared statement. Financial terms such as actual dollars, valuation and percentage ownership were not disclosed.

Protos provides security guard solutions via a proprietary technology system and security vendor network. It allows organizations to outsource the onboarding, management and tracking of security guards across thousands of sites in the United States, Canada and Puerto Rico.

Protos offers end-to-end security guard management services and the Protos Client Portal, an end-to-end electronic management system that protects guard data and enables organizations to analyze and forecast guard performance. Furthermore, Protos provides $10 million in liability coverage to customers as part of its offerings.

Cybersecurity Funding on the Rise

Private equity is flowing into all types of digital and traditional security providers. In addition to Smithfield's investment in Protos, other notable cybersecurity funding announcements include:

Cybersecurity investments totaled more than $5.3 billion in 2018, industry analyst Strategic Cyber Ventures indicated. As private equity firms and other investors search for growth opportunities, the volume and value of cybersecurity investments could increase in 2019 and beyond.

Dan Kobialka

Dan Kobialka is senior contributing editor, MSSP Alert and ChannelE2E. He covers IT security, IT service provider business strategies and partner programs. Dan holds a M.A. in Print and Multimedia Journalism from Emerson College and a B.A. in English from Bridgewater State University. In his free time, Dan enjoys jogging, traveling, playing sports, touring breweries and watching football.