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CLEVELAND (PRWEB) APRIL 20, 2022
Venture debt financer River SaaS Capital has added software company Cytellix Corporation (Cytellix) to its expanding portfolio of high-growth companies, providing crucial capital to help the Arizona firm scale its patented cybersecurity SaaS platform. River SaaS Capital has agreed to provide up to $5 million in financing based upon the terms of the deal.
Launched in 2017 as the cyber division of Information Management Resources, Inc. (IMRI), Cytellix Corporation year-on-year growth enabled a spin-out in 2021 and recently completed a major rebranding effort, highlighting their innovative SaaS platform that brings cybersecurity, compliance and risk management under one patented platform.
“We are very excited to welcome Cytellix to our portfolio,” said River SaaS Capital Chief Investment Officer Wendy Jarchow. “There are very few companies capable of combining such strong SaaS expertise with decades of proven cybersecurity experience.”
“As we searched for a partner to provide growth capital, we were immediately attracted to River SaaS Capital because of their knowledge in our space,” added Cytellix President and CEO Brian Berger. “They understand how SaaS businesses like ours operate and how to provide the kind of flexible support we need to scale rapidly.”
Cytellix’s patented SaaS platform correlates cyber compliance data, IT, cloud and IOT assets into a 24/7 advanced threat detection and response platform. Combined with in-house AI solutions and data from third-party security products, the platform can be customized to fit the needs of virtually any user, from small business owners to massive enterprise clients.
This unique solution immediately attracted the attention of River SaaS Capital, whose team has developed a strong understanding of the cybersecurity industry landscape.
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