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- Blackpoint Cyber
Blackpoint Cyber Funding, Investors & Competitors
Blackpoint Cyber has raised $201M across 3 funding rounds, most recently a $190M Series C in June 2023.
Last Blackpoint Cyber funding round
$190M
Series C · Jun 2023
Cumulative funding Blackpoint Cyber raised
$201M
across 3 funding rounds
Key investors in Blackpoint Cyber
Accel
Bain Capital
Maryland Venture Fund
WP Global Partners
Telcom Ventures
Pelican Ventures
Adelphi Capital
Adelphi Capital Partners
About Blackpoint Cyber
Blackpoint Cyber is a Maryland-based cybersecurity company founded in 2014 by former NSA and Department of Defense cyber operations expert Jon Murchison. It provides managed detection and response (MDR) technology to managed service providers, who use the platform's 24/7 security operations center to detect, isolate, and neutralize cyber threats for their end customers in real time. Its core product line has evolved from the SNAP-Defense threat-hunting platform, which consolidates security functions and network visualization, into the broader MDR offering used by MSPs today.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Blackpoint Cyber Funding History
Blackpoint Cyber has raised a total of $201M across 3 funding rounds.
Blackpoint Cyber's first fundraising round was a $6M Series A in May 2018. The most recent completed round was a $190M Series C in June 2023.
Blackpoint Cyber funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2023 | Series C | Bain Capital (lead); Adelphi Capital Partners; Accel; Pelican Ventures; Telecom venture; WP Global Partners | $190M | Blackpoint Cyber, a Maryland-based cybersecurity company founded in 2014 by former NSA expert Jon Murchison, provides managed detection and response (MDR) technology to managed service providers (MSPs) to detect, isolate, and neutralize cyber threats in real-time via its 24/7 SOC, eliminating alert fatigue for customers. The company secured a $190 million growth investment on June 8, 2023, led by Bain Capital Tech Opportunities with participation from Accel, joining existing investors Adelphi Capital Partners, Telecom Ventures, Pelion Ventures, and WP Global Partners; this brought total funding to $216 million including prior rounds like a $7 million Series B. Funds are earmarked for advancing security technology R&D, MSP partner enablement, go-to-market expansion, and hiring, with plans to add 80+ employees beyond the current ~130 to reach ~200 amid 100% year-over-year growth and near-profitability. Executives highlighted elite SaaS metrics in the top 5% and strong fundamentals to weather market conditions without future cash needs. Bain Capital's involvement draws from its cybersecurity portfolio including Rapid7, Check Point, and others, positioning Blackpoint to accelerate innovation against evolving threats; original investor TEDCO later exited. |
| Jul 2020 | Series B | - | $5M | Blackpoint Cyber, a managed detection and response (MDR) provider founded in 2014, raised an undisclosed Series B funding round around August 2020 to bolster marketing efforts. The company had previously raised $6 million in a Series A in May 2018. Some reports indicate $7 million for the Series B, while the amount was not disclosed in the company's statement. John N. Stewart, former Cisco senior VP and chief security officer, joined the board. Around July 2020, Blackpoint launched MDR 4.0, a contextually aware platform aligned with the MITRE ATT&CK framework for threat detection and response. The company partners with managed service providers (MSPs) to deliver security via its platform and security operations center. Customer base doubled since the COVID-19 pandemic began, amid increased attacks on VPN appliances during remote work. Blackpoint had raised a total of approximately $201.4 million across three funding rounds by 2023, including a $190 million growth investment led by Bain Capital in June 2023 that gave Bain a controlling stake. |
| May 2018 | Series A | Adelphi Capital (lead); Telcom Ventures (lead); Maryland Venture Fund | $6M | Blackpoint Cyber, a cybersecurity company founded by former Department of Defense cyber operations experts, announced a $6 million Series A funding round on May 29, 2018, led by Adelphi Capital and Telcom Ventures with participation from Maryland Venture Fund. The company's core product, SNAP-Defense, is a threat hunting and response platform designed to reduce enterprise security tool sprawl by consolidating multiple security functions into a single integrated solution. The platform features patented lateral movement detection and provides real-time network visualization across cloud and on-premises environments, enabling organizations to identify and contain cyber threats before they can spread across networks. The round proceeds were earmarked to accelerate sales and marketing efforts and enable the company to scale operations in U.S. and international markets. At the time of the funding announcement, Blackpoint was positioned to serve IT and security professionals seeking to simplify compliance reporting and reduce the complexity of managing fragmented security stacks. The company would go on to raise significantly more capital in subsequent years, including a $190 million Series C round in June 2023 led by Bain Capital Tech Opportunities. |
Who has invested in Blackpoint Cyber?
9 investors have backed Blackpoint Cyber across its funding rounds, including Accel, Bain Capital, Maryland Venture Fund, WP Global Partners, Telcom Ventures and Pelican Ventures.
Lead investors include Bain Capital, Adelphi Capital and Telcom Ventures.
Blackpoint Cyber Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | May 2018 | ||
| 1 | Participant | May 2018 | ||
| 1 | Lead | May 2018 | ||
| 1 | Participant | Jun 2023 | ||
| 1 | Lead | Jun 2023 | ||
| 1 | Participant | Jun 2023 | ||
| 1 | Participant | Jun 2023 | ||
This data is available for Pro users. Sign up to see all 9 Blackpoint Cyber investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialBlackpoint Cyber Competitors
Blackpoint Cyber competitors include listed companies like CommVault Systems, Palo Alto Networks, CrowdStrike and IBM, and private ones like JumpCloud and Safe Superintelligence.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.2B | $84M | $6.2B | 5.0x | ||
| Private | $56M | - | $2.6B | 46.9x | ||
| Publicly listed | $11B | $1B | $307B | 25.9x | ||
| Publicly listed | $4.8B | ($12M) | $252B | 44.5x | ||
| Publicly listed | $68B | $17B | $224B | 4.0x | ||
| Private | - | - | $32B | - |
Blackpoint Cyber Public Comps
Blackpoint Cyber is still privately-owned, but its public comps include Palo Alto Networks, CrowdStrike, IBM, ServiceNow, Fortinet, Cloudflare, Datadog, Okta, Zscaler and VeriSign.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $11B | $1B | 26.7x | 25.9x | 301.1x | 76.9x | |||
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $68B | $17B | 4.2x | 4.0x | 16.9x | 14.6x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $6.8B | $2.3B | 18.1x | 15.9x | 53.7x | 41.9x | |||
| $2.2B | ($25M) | 54.6x | 44.3x | (4653.4x) | 185.1x | |||
| $3.4B | ($588K) | 23.6x | 19.4x | (137813.0x) | 77.6x | |||
| $2.9B | $245M | 10.6x | 10.0x | 126.4x | 36.4x | |||
This data is available for Pro users. Sign up to see all Blackpoint Cyber competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Blackpoint Cyber
| When was Blackpoint Cyber founded? | Blackpoint Cyber was founded in 2014. |
| Where is Blackpoint Cyber headquartered? | Blackpoint Cyber is headquartered in United States. |
| Is Blackpoint Cyber publicly listed? | No, Blackpoint Cyber is a private, VC-backed company. |
| How much funding has Blackpoint Cyber raised? | Blackpoint Cyber has raised $201M across 3 funding rounds. |
| What was Blackpoint Cyber's last funding round? | Blackpoint Cyber's last funding round was a $190M Series C in June 2023, led by Bain Capital. |
| Who are Blackpoint Cyber's investors? | Blackpoint Cyber's investors include Telcom Ventures, Maryland Venture Fund, Adelphi Capital, Adelphi Capital Partners, Bain Capital, Accel, Pelican Ventures, Telecom venture and WP Global Partners. |
| Which companies are comparable to Blackpoint Cyber? | Companies comparable to Blackpoint Cyber include CommVault Systems, JumpCloud, Palo Alto Networks, CrowdStrike, IBM and Safe Superintelligence. |
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