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Rapid7 is acquiring DivvyCloud for $145M to beef up cloud security

Rapid7 announced today after the closing bell that it will be acquiring DivvyCloud, a gloom security and governance startup, for $145 million in currency and stock.

With Divvy, the company moves more deep into the cloud, something that Lee Weiner, bos invention detective, says the company has been working toward, even before the pandemic pushed that agenda.

Like any busines looking at expanding its give, it offset constructing versus buying and decided that buying was the better way to go.” DivvyCloud has a splendid stage that actually countenances companies the freedom to innovate as they move to the massed in a manner that copes their conformity and security ,” Weiner told TechCrunch.

CEO Corey Thomas says it’s not possible to make a deal right now without looking at the economic conditions due to the pandemic, but he says this was a move they felt pleasant making.

” You have to actually think about everything that’s going on in the world. I think we’re in a fortunate sentiment in that we have had the benefit of both growing in the past couple times but likewise get the business more efficient ,” Thomas said.

He said that this acquisition fits in perfectly with what he’s been hearing from clients about what they need right now.” One arena of brand-new projects that is actually going forward is how people are trying to figure out how to digitize the continuing operation in a life where they aren’t sure how soon employees will be able to congregate and cooperating with each other. And so from that situation, focusing on the gloom and substantiating our patrons’ jaunt to the cloud has become an even more important priority for “the organizations activities” ,” he said.

Brian Johnson, CEO and co-founder at DivvyCloud, says that is precisely what his company offers, and why it should fit in well with the Rapid7 pedigree.” We help customers achieve rapid innovation in the mas while ensuring they remain secure, well governed and compliant ,” he said. That takes a different playbook than when customers were on prem, particularly compelling automation and real-time remediation.

With DivvyCloud, Rapid 7 is getting a 7-year-old corporation with 70 the workers and 54 patrons. It grew $27.5 million on an $80 million post-money valuation, according to PitchBook data. All of the employees will become part of the Rapid7 organization when the administer closes, which is expected to happen some time this quarter.

The corporations say that as they come together, they will continue to support existing Divvy patrons, while working to integrate it more deep into the Rapid7 platform.

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