Pathlock Gains $200 Million in Funding, Merges with Appsian, Security Weaver

Pathlock has secured $200 million in new funding, and has merged with Appsian and Security Weaver. In addition, it has acquired CSI Tools and Sast Solutions.

Appsian provides enterprise resource planning (ERP) data security solutions. Security Weaver provides governance, risk and compliance management (GRCM) software for SAP. CSI Tools is a Belgium-based GRCM provider, and Germany-based Sast Solutions hardens SAP environments.

Vertica Capital Partners led the Pathlock funding round. This funding will allow Pathlock to further expand its application governance and data security capabilities.

The company’s offerings are going deeper and wider than ever before. It’s providing a single unified platform to implement, enforce and manage GRC controls across enterprise applications.

Expanding Pathlock Partners’ Reach

Pathlock’s Mike Johnson

Mike Johnson is Pathlock‘s senior director of partners and alliances.

“Pathlock partners will continue to have access to the best-of-breed solutions they have gone to market with the previous 15 years,” he said. “The platform resulting from the vision to combine these solutions will allow them to expand their reach and provide a solution to protect applications, data and quantify risk for all major ERPs, HR and customer relationship management (CRM) tools. The Pathlock Global Partner Program features include a robust training and enablement plan, an asset library and a deal registration program that rewards partners for positioning our platform. The partners are most excited about the ability to provide business outcomes while utilizing our platform in addition to their own technical and consulting services capabilities.”

There is no other software provider who can match “our depth and breadth,” Johnson said.

“Also, just as importantly, our partners will have the industry’s broadest application support, more than 140 business applications, and controls library, literally thousands of controls, ready for deployment,” he said.

Business Application Protection Never More Important

The protection of business applications, especially the transactions and data they house, has never been more important, Johnson said. However, it’s still a largely manual process to test, prove and enforce the controls within those applications.

“We saw this opportunity to bring the leading technologies together to create a single 360-degree view of business application risk, with an automated approach to managing that risk,” he said. “Sarbanes Oxley is 20 years old, and continues to weigh on organizations. Relatively newer regulations such as internal control over financial reporting (ICFR) and General Data Protection Regulation (GDPR) are proof that internal controls are a key business activity and requires purpose-built technology to help address the needs.”

Through this M&A, Pathlock has combined its channel partner organization, Johnson said. It’s bringing the best of each program into a single strategy to allow partners to maximize their return on investment,.

“Pathlock will now have a robust network of 100-plus resellers, SIs and referral partners,” he said.

The combined company is now servicing over 1,200 customers across all major industries. Additionally, the new company brings with it a global reach and international customer presence. It has offices across the United States, Belgium, the United Kingdom, Germany, Israel and India.

Philip Vorobeychik is managing director of Vertica Capital Partners.

“We are thrilled to see these major players in the industry come together to create a global leader in the application governance, risk and compliance space,” he said  “The combined company, Pathlock, will now offer the most robust library of productized controls for business applications on the market today,”