Runway Growth Capital and Skyview Capital announced a significant growth investment in Fidelis Cybersecurity (“Fidelis”).

The investment will provide working capital to enable Fidelis’ continued success in developing cyber solutions that help security teams from top commercial, enterprise, and government agencies worldwide find and stop threats faster and more effectively.

Fidelis is an industry innovator in Active eXtended Detection and Response (XDR) solutions that are trusted by Fortune 100 firms and government organizations worldwide. The company’s proactive cyber defense solutions provide advanced threat detection, deception, and response to safeguard modern IT environments across cloud, network and endpoints.

“We are excited to reaffirm our commitment to Fidelis, who has been in Runway’s portfolio since May 2021,” said Greg Greifeld, Managing Director and Deputy Chief Investment Officer at Runway. “Fidelis is well-positioned in the high-growth cybersecurity market; they’re a stable business that has a strong executive team and low client churn.”

“There is so much to like about the cybersecurity sector right now. There is strong government backing (in the billions), high margins, and low customer churn rates when compared to other SaaS businesses,” said David Spreng, Founder and CEO at Runway.  

Fidelis plans to use the additional capital to continue its product development, build out its operational infrastructure, and fuel growth.

“Being endorsed by leading investment firms such as Skyview and Runway, affirms that Fidelis is well positioned to maximize growth opportunities that are being driven by a sizable government investment in cybersecurity and ongoing market consolidation,” explained Eric Moseman, President at Fidelis. “Runway’s long-standing partnership with Fidelis and the trust they have in our team and products, has enabled us to work from a position of strength in the rapidly evolving cybersecurity marketplace.”