5 Companies That Came To Win This Week

For the week ending Aug. 28, CRN takes a look at the companies that brought their ‘A’ game to the channel.


The Week Ending Aug. 28

Topping this week’s Came to Win list is Fastly for an acquisition that will allow the fast-growing edge computing company to expand its security offerings.

Also making the list are Palo Alto Networks for its own security-related acquisition, edge colocation startup EdgeMicro for its plans to assemble five new micro data centers across the U.S. this year, cybersecurity company ReliaQuest for raising $300 million in growth funding, and Corrigo and PerimeterX for launching their first channel programs.

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Edge Computing Standout Fastly Moves To Acquire Cybersecurity Startup For $775 Million

Fastly, a rising star in the edge computing arena, is making a savvy acquisition that will strengthen the company’s edge security capabilities.

This week Fastly struck a deal to acquire web application security vendor Signal Sciences for $775 million. Signal Sciences has been one of the fastest growing web application security companies in the industry with its programmable system that helps businesses make accurate and automated security decisions.

Fastly will use the Signal Sciences technology to create a new security offering called Secure@Edge, a unified web application and API protection system integrated with the company’s Compute@Edge platform – a move the company expects will accelerate the adoption of its edge computing offerings.

Palo Alto Networks To Acquire IR Firm The Crypsis Group For $265 Million

Staying on the topic of acquisitions, Palo Alto Networks made its own shrewd acquisition this week that will help the security platform company expand into the incident response security space.

Palo Alto Networks struck a deal to acquire The Crypsis Group, a risk management and digital forensics consulting firm based in McLean, Va., for $265 million.

The acquisition is expected to extend the capabilities of Palo Alto Networks’ Cortex XDR detection and response platform. It’s also expected to create tremendous upsell and cross-sell opportunities for the security company and its channel partners.

Palo Alto Networks has spent roughly $2.5 billion since the start of 2018 to buy 10 companies in the cloud, endpoint and security management spaces.

Edge Startup EdgeMicro Launching 5 New Micro Data Centers

Edge colocation startup EdgeMicro this week disclosed plans to fire up five new micro data centers across the U.S. this year as spending on data centers from major cloud providers like AWS, Microsoft and Google skyrockets and private equity firms inject billions into edge computing.

EdgeMicro is building the new micro data centers in Cleveland, Indianapolis, Memphis, Houston and Pittsburgh. All five sites are slated to open by the end of this year. The company already operates micro data centers in Austin, Texas; Raleigh, N.C.; and Tampa, Fla.

EdgeMicro specializes in providing edge co-location data centers based on the company’s proprietary Edge Traffic Exchange technology. The network-neutral, modular data centers provide clients with scale and flexibility at the edge of their corporate networks. The startup also provides related services including site location and systems engineering and design, installation, commissioning, maintenance and monitoring.

Cybersecurity Firm ReliaQuest Gets $300M To Bolster Its Platform

ReliaQuest was a winner this week when it received $300 million in growth financing from private equity giant KKR, money the company will use to accelerate development of its GreyMatter cybersecurity intelligence platform.

The managed security service provider will also use the new funding for strategic hiring and international expansion. The company, which has recorded revenue growth of 450 percent over the past three years, has hired 70 people just since the start of the COVID-19 pandemic in March (it currently has 500 employees) and plans to hire 100 more by year’s end.

Also scoring on the venture financing front this week were AI/machine learning platform developer Dataiku, which received $100 million in Series D financing, bringing its total funding to $246.8 million. And telemedicine technology developer Amwell will receive a $100 million investment from Google Cloud as part of Amwell’s upcoming IPO.

Corrigo, PerimeterX Launch Inaugural Partner Programs

Application security startup PerimeterX and facilities management platform provider Corrigo both win applause this week for debuting their first channel programs.

PerimeterX rolled out the PerimeterX Partner Program with the goal of engaging with the solution provider community in a more systematic manner and boosting the share of business flowing through the channel from less than 25 percent today to 45 percent by Jan. 30, 2021. Providing partners with market development funds is a key element of the initiative.

“I’m going to overinvest in the channel because it can have the biggest impact on our velocity and capacity to cover high-growth expectations,” Chief Revenue Officer David Brown told CRN. “I’m a huge believer in indirect routes to market as a force multiplier.”

Corrigo unveiled its first channel partner program with the goal of recruiting solution providers who are looking for new opportunities in what is currently a fragmented market. The company’s applications are used to monitor IT infrastructure, HVAC, plumbing and other facility systems.

Because solution providers in facilities management often have to integrate technology from multiple vendors, a key goal of the new program is to create an ecosystem of technology and channel partners to expedite that integration work.