Columbia-based TEDCO announced the successful exit of its portfolio company, Blackpoint Cyber, a cybersecurity company providing its security ecosystem via managed service providers. Blackpoint received a $190 million growth investment led by Bain Capital Tech Opportunities, with participation from Accel and others.
In 2018, TEDCO invested $200,000 in Blackpoint to support the growth and development of the company, whose goal is to provide effective, affordable real-time threat detection and response to organizations worldwide. Exits create impactful returns for startups and investors, as well as more broadly supporting a positive outlook for the entrepreneurial community.
“We’re proud to have connected with Blackpoint during the early stages of the company’s development,” said Katherine Hill Ritchie, TEDCO’s senior director of venture funds. “We encourage Maryland technology and life science entrepreneurs to reach out to TEDCO — we can help identify ways to support a positive trajectory for growing businesses in the state.”
Blackpoint’s initial funding came from TEDCO’s Seed Funds. TEDCO provides funding, resources and connections for early-stage technology and life-science companies, working to support a thriving, sustainable ecosystem in Maryland. For more information about opportunities and how to apply, visit https://www.tedcomd.com/funding.