Blackpoint Cyber's original investor has taken its exit. TEDCO, which invests in Maryland-based companies, reported that it has exited from the Ellicott City, Maryland-based technology-focused cyber security company.
TEDCO's exit follows a $190 million growth investment in Blackpoint led by Bain Capital Tech Opportunities, with participation from Accel and others.
TEDCO’s Seed Funds invested $200,000 in Blackpoint Cyber in 2018. The investment was intended to support the growth and development of Blackpoint Cyber in its effort to provide effective, affordable real-time threat detection and response to organizations worldwide.
About TEDCO’s Blackpoint Investment
Jon Murchison, CEO and founder, Blackpoint Cyber, commented:
“We are very appreciative of TEDCO for having interest and investing in our company at an early stage. TEDCO’s support helped us continue to grow and serve MSPs and their clients across the world.”
Katherine Hill Ritchie, senior director of Venture Funds, TEDCO, said:
“We’re proud to have connected with Blackpoint during the early stages of the company’s development. 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.”
About TEDCO
TEDCO is a state-funded organization established by the Maryland government to support the growth and development of technology and life science-based companies in Maryland.
“Exits create impactful returns for startups and investors, as well as more broadly supporting a positive outlook for the entrepreneurial community,” the organization said in a prepared statement.
