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CYBERSECURITY FIRM ASCENT SOLUTIONS INCREASES ITS INVESTMENTS TO SUPPORT EXPONENTIAL GROWTH

MINNEAPOLIS, May 18, 2022 /PRNewswire/ — Cybersecurity services company Ascent Solutions secures investment from RunTide Capital to support its explosive growth in the cybersecurity services industry.

Ascent offers a comprehensive portfolio of cybersecurity services spanning consulting, technology implementations, incident response, and managed security. Ascent Managed Security Services leverages a 24/7 team of Security Operations Center (SOC) analysts, leveraging incident response, threat hunting and identity to mitigate threats.

“Ascent’s vision is clear: We’re going to save the world, from a cybersecurity perspective,” said JD Harris, CEO. “Our approach is also clear. The entire Ascent team has an incredible passion for keeping businesses and people safe. The RunTide team felt and understood the passion deeply embedded in the Ascent culture. “Ascent challenged the market by growing significantly during Covid, it was clear that RunTide was the partner to accelerate that growth. By combining the power of Ascent’s cybersecurity prowess and RunTide’s history in supporting fast-growing businesses, I can see our vision becoming a reality.

Today, Ascent is a Microsoft Gold-Certified Advisor to more than 300 leading organizations, including more than fifty Fortune 500 companies and five Fortune 50 companies. Ascent also consolidates Microsoft Security tools and expertise, partnering with Microsoft to manage customer security needs, compliance requirements, and change management. From an initial seat to Minneapolisthe company’s cybersecurity consultants quickly grew into a national team to meet growing demand.

Annual cybersecurity spending is expected to increase at a CAGR of 8% for $233 billion by 2024, the annual costs of cybercrime reaching $10.5 trillion by 2025. Ascent’s presence is growing rapidly due to the cybersecurity imperative.

Robert Manningpartner of RunTide, said, “Today, cybersecurity is essential and at the forefront of the technological needs of companies. Ascent has assembled an elite team of cyber professionals with capabilities that are in high demand by key partners and customers. RunTide is thrilled to partner with JD and Ascent to help the company continue its rapid growth. Importantly, Ascent championed a culture committed to developing key cybersecurity talent, a critical national security initiative. We believe in JD’s vision and that Ascent will continue to pioneer this vital strategy. aptitude.”

While cybersecurity accounts for 600,000 job vacancies in United States and more than four million globally, the surge in cyberattacks is threatening cross-industry businesses, fueling rapid growth in the outsourced managed security service provider (MSSP) market. The global managed security services market is expected to grow at a CAGR of 15.2% for $64.7 billion by 2025 according to Mordor Intelligence. Ascent will aggressively channel funds to accelerate its development of internal experts, recruitment of the next cyber generation and new plans to aggressively fill the global talent gap. DA Davidson & Co. served as the exclusive financial advisor to Ascent Solutions.

About the climb:
Ascent is the partner for solving the toughest cybersecurity challenges. The company is designed to evolve cybersecurity posture, modernize Microsoft solutions, and manage entire security ecosystems. With ever-evolving capabilities, including incident response and CMMC, Ascent provides organizations with the consulting excellence and operational expertise needed to build a safer future. For more information, visit www.meetascent.com.

About RunTide Capital:
RunTide Capital is a private equity firm focused on building technology-driven growth companies. Founding Partners are seasoned investors with deep operational experience, having started their careers as founders and C-level executives of high-growth technology companies. For more information, visit www.runtidecapital.com.

Contact

Addalai Nowlin, Core Services Associate, Ascent Solutions,
[email protected]

SOURCEAscent Solutions LLC

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