Investment will accelerate growth in platform development and hiring across the organization
FRANKLIN, TN / ACCESSWIRE / December 15, 2022 / Fortified Health Security (Fortified), a best-in-class managed security services provider (MSSP) to the healthcare industry announced today a majority investment led by Silversmith Capital Partners and Health Velocity Capital with participation from Nordic Consulting.
Fortified's client-centric focus will remain a priority. The new investment will help fuel Fortified's growth plan by accelerating its technology roadmap to develop a platform that simplifies the management and oversight of cybersecurity programs for clients, expanding the sales organization and supporting operational scale.
Since its inception, Fortified has supported hospital systems and other healthcare providers with a broad array of cybersecurity advisory and security operations center (SOC) services. As a mission-driven organization, Fortified exists to increase the cybersecurity posture of healthcare and serve as an extension of its clients' cybersecurity teams.
"When we started Fortified, our goal was to help clients build a stronger cybersecurity program that would enable them to reduce risk and provide safe patient care. We've been fortunate to be rewarded with growth beyond what we initially imagined," said Dan L. Dodson, CEO of Fortified. "We have known Health Velocity and Silversmith for years, and we are already jointly serving clients with Nordic. All of them bring deep expertise in healthcare and technology, making them the right partners for our next phase of growth."
"Over the past decade, healthcare organizations have experienced a sharp increase in security breaches, making cybersecurity a top priority for hospital executives. Fortified has built an industry leading organization that has a highly engaged client base who value the company's healthcare-centric focus," said Jeff Crisan, Managing Partner at Silversmith Capital Partners. "They are exactly the kind of company we like to partner with, and we look forward to supporting their future growth."
"As we looked across the cybersecurity landscape, Fortified was distinct among competitors due to its comprehensive service offering portfolio, national presence and experienced team," said Bruce Crosby, Managing Partner at Health Velocity Capital. "We are excited to work with Dan, William, Julia and the entire Fortified team as they continue to play a critical role in helping keep healthcare secure."
Concurrent with this announcement, Jeff Crisan and Bruce Crosby will join the Fortified Board of Directors. Ropes & Gray served as legal counsel to Silversmith Capital Partners and Health Velocity Capital.
About Fortified Health Security
Fortified is Healthcare's Cybersecurity Partner® - protecting patient data and reducing risk throughout the healthcare ecosystem. A managed security service provider that has been awarded many industry accolades, Fortified works alongside healthcare organizations to build customized programs designed to leverage their prior security investments and current processes while implementing new solutions that reduce risk and increase their security posture over time. Led by a team of industry-recognized cyber experts, Fortified's high-touch engagements and client-specific process maximize engagement value and deliver an actionable, scalable approach to help reduce the risk of cyber events. For more information visit www.fortifiedhealthsecurity.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $3.3 billion of capital under management. Silversmith's mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, DistroKid, impact.com, Iodine Software, LifeStance Health, Market Access Technologies, MediQuant, Nordic Consulting, PDFTron, Upperline Health and Webflow. For more information, including a full list of portfolio investments, visit www.silversmith.com or follow the firm on LinkedIn.
About Health Velocity Capital
Health Velocity Capital invests exclusively in innovative healthcare software and services companies. The firm's partners have more than 90 collective years as investors, entrepreneurs, and executives helping to finance and build innovative companies that created important new healthcare markets and that became market leaders, including successful companies such as Teladoc, Livongo Health, Change Healthcare, MDLive, Contessa Health, Headspace Health, Aspire Health, Zipari, IVX Health, Artera (fka Well Health), Compassus, Aperio, The Advisory Board Company, Healthways (Tivity Health), US Renal Care, Spero Health, OnShift, and many others. The firm counts among its limited partners many of the largest and most influential healthcare organizations in the country and current and former senior healthcare executives who collectively represent organizations that insure more than 175 million Americans, operate more than 700 hospitals, provide pharmacy and PBM services to everyone in the United States, and sell software to every major US health system. For more information, please visit www.healthvelocitycapital.com.
About Nordic Consulting
Nordic is an award-winning global health and technology consulting company that partners with health leaders around the world to create healthier systems, businesses, and people. Together, our global team of more than 2,100 professionals brings decades of experience across our key focus areas of strategic advisory, digital and cloud initiatives, implementation and support, and managed services. Nordic and its network of companies, including Bails, Healthtech, Hygeian Consulting, and S&P Consultants, support more than 700 clients in their efforts to harness the power of technology on a global scale. Learn more at NordicGlobal.com.
SOURCE: Fortified Health Security
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