Submitted by Antony Savvas on January 6, 2022
Private equity firm Livingbridge has taken a stake in Edinburgh, Scotland-headquartered security services MSP Quorum Cyber.
Quorum delivers managed detection and response (MDR) capabilities to companies globally, including banks, cloud providers and other enterprises.
It is a Microsoft Gold Partner and Microsoft Intelligent Security Association (MISA) member, delivering its services over Microsoft security platforms managed by its in-house team.
Livingbridge said its investment, the amount of which has not been disclosed, would be used to grow Quorum's sales and marketing functions to aid international growth.
“We are entering the next chapter of our growth journey with Livingbridge, a partner with the experience and resources to help us achieve our vision of becoming one of the top ten Microsoft security partners worldwide,” said Federico Charosky, founder and CEO of Quorum Cyber.
Livingbridge has previously invested in Scottish cyber security services companies Adarma and TitanHQ. Livingbridge's investment in Quorum came after it acquired Maven Capital Partners' stake in the firm.
Quorum received £2.7m of funding, led by Maven and supported by the Scottish Investment Bank, in July 2020. Since then, both the headcount and sales at Quorum are said to have seen a big jump.