Money Moves: Gravy Analytics received a $10 million credit facility from Espresso Capital

January 20, 2022

ICONIQ Growth and Foundry Capital led the round, with additional participation from Tiger GlobalMC2Bessemer Venture Partners and New Enterprise Associates. Through the deal, former Department of Homeland Security Secretary Michael Chertoff and Foundry Capital CEO John Ein will join the company’s board. Former Sonatype CMO Matt Howard has also joined the company in the same position.

Jack Ackerly, CEO, told Technical.ly that the raise followed major success for the company over the past few years, including that Virtru’s usage quadrupled during the pandemic. With the funds, Virtru plans to expand its global reach, build out the government team, enable third parties to integrate into its technology, and move into open-source options with its data and tech.

“In order to really drive to the default, secure world that we’ve been all about from day one, no one company can actually do that on its own,” Ackerly said. “So it’s really about fostering a community of likeminded developers and companies to really move the industry core together towards open source.”

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