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Bishop Fox Extends Series B Funding to $129 Million Led by WestCap

Bishop Fox Extends Series B Funding to $129 Million Led by WestCap

WestCap, NextEquity, and Rockpool Capital join Carrick Capital Partners to close out oversubscribed funding round

Bishop Fox, the leading authority in offensive security, announced $46 million in growth funding from WestCap, with additional contributions from NextEquity Partners and Rockpool Capital. The funds build on the $75 million invested by Carrick Capital earlier this year, bringing the total funding for the round to $129 million. Bishop Fox has raised more than $154 million in lifetime funding, including a $25 million Series A investment from Forgepoint Capital. The company also welcomed WestCap Partner Kevin Marcus as a Board Observer.

Despite an uncertain economic climate, Bishop Fox fielded interest from multiple investors as a result of its proven, long-term success and impressive momentum over the past twenty-four months. For nearly two decades, the company has maintained a reputation as the offensive security partner of choice, with customers including more than 25% of the Fortune 100, eight of the top 10 tech companies, and all of the top global media companies. Maintaining an overall Net Promoter Score (NPS) above 80 for multiple years, Bishop Fox achieved a world-class score of 90 for the year-to-date through the third quarter of 2022 for its consulting services.

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“Bishop Fox has an 18-year track record of identifying the most sophisticated attack vulnerabilities on behalf of some of the world’s most renowned brands,” said Kevin Marcus, Partner at WestCap. “Their ability to continuously monitor attack surfaces is especially timely given today’s backdrop of increasing frequency of attacks and costly data breaches.”

Funding will be used to accelerate the expansion of the company’s award-winning Cosmos platform, fuel go-to-market activities in North America, Europe and Latin America, and build additional internal training programs designed to develop a new generation of cyber talent. Born out of nearly two decades of offensive security engagements, Cosmos represents the state-of-the-art in attack surface protection and offensive-security-as-a-service. The platform is a force multiplier for a team of security experts who, apart from the federal government, represent the largest and most experienced group of offensive security professionals in the world. This combination enables Bishop Fox to provide the most comprehensive, continuous protection in the industry and offers customers dramatic reductions in cost, time, and resources without sacrificing security.

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“We’ve been very selective, deliberate and measured in our approach to external investment, and our business strength affords us that ability,” said Vinnie Liu, Bishop Fox CEO. “We’ve also been equally selective in the partners we’ve chosen and the value they can provide in expertise and resources. We’re very excited to have WestCap on board and look forward to maximizing our partnership.”

Perella Weinberg Partners LP served as the Series B financial advisor to Bishop Fox.

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