Merlin Venture announced the formation of a Public Sector growth program for cybersecurity software-as-a-service (SaaS) startups.
The program leverages Merlin Ventures capital, engineering lab, FedRAMP certification acceleration process, and Public Sector relationships to help startups tap into a $200 billion Public Sector IT solutions market.
The clamor for enhanced cybersecurity protection within U.S. federal, state, and local governments has never been greater, as cybersecurity attacks continue to increase in frequency, volume, and sophistication.
This is spawning the emergence of highly disruptive cybersecurity technologies. However, the complexity for startup companies navigating the U.S. Public Sector limits the ability for government agencies to access innovative technology solutions.
Merlin Ventures bridges this gap with its program that equips cybersecurity startups with:
- Capital: Up to $5M in funding for Series A or B stage companies that are market-ready
- FedRAMP acceleration: Turnkey FedRAMP certification accelerator that enables startups to achieve authority to operate (ATO) faster and more cost-effectively
- Engineering: Top cybersecurity engineers help ensure solution alignment with U.S. Public Sector customer requirements and needs
- Go-to-market infrastructure: Sales executives and digital marketing resources with deep relationships help extend reach to U.S. Public Sector customers
Government agencies’ move to the cloud is driving the need for enhanced security and increased demand for cybersecurity SaaS technologies that meet FedRAMP requirements.
FedRAMP provides a standardized approach to security for the cloud. “It can take up to two years and two million dollars for a company to become FedRAMP certified,” said Seth Spergel, Managing Partner of Merlin Ventures.
“With our program, we take companies there in a fraction of the time and at a fraction of the cost. This is not only a game-changer for most companies, especially startup companies, but it’s also a game-changer for U.S. Public Sector agencies.
“We are making it simpler for government agencies to access the innovative cybersecurity solutions they need to minimize risk.”
Merlin Ventures CEO David Phelps commented, “The U.S. government is the largest market in the world, but it’s incredibly complex to navigate if you’re an emerging company.
“Our 25-plus years of experience in the Public Sector can now be leveraged by innovative cybersecurity startups to help them expedite FedRAMP certification and propel them into the U.S. Public Sector.”