Paladin Capital Group

Paladin Capital Group is a global investment firm that supports and grows innovative companies through venture, expansion, and growth capital. The firm specializes in technology, products, and services with dual use for commercial and government markets, combining financial acumen with national security and technical expertise to add value across market sectors and stages. It emphasizes active investing, offering strategic guidance, access, and relationships to portfolio companies. Paladin focuses on digital infrastructure resilience and investments in advanced technologies and solutions that monitor, manage, and defend critical infrastructure dependent on cyberspace. Headquartered in Washington, DC, it maintains offices in New York, Silicon Valley, London, and Luxembourg, enabling it to source opportunities and support global growth.

Roxana Irina Big

Associate

Brenda Chia

Managing Director

Thomas Clute

Vice President

Philip Eliot

Investor

Winston Hickox

Venture Partner

Vin Lingathoti

Venture Partner

Ken Minihan

Managing Director

Michael Moniz

Managing Director

Peter O'Keefe

Venture Partner

Kenneth Pentimonti

Principal

Francois Ruether

Investor

Tyler Steed

Associate

Christopher Steed

Investor

Michael Steed JD

Co-Founder and Managing Partner

Katherine Thomas

Senior Associate

John Vernon

Associate

Gibb Witham

Investor

Mourad Yesayan

Managing Director

Past deals in Penetration Testing

Hack The Box

Series B in 2023
Hack The Box Ltd. is a company that operates an online platform focused on enhancing skills in penetration testing and cybersecurity for individuals, organizations, and educational institutions. Founded in 2017 and based in Folkestone, United Kingdom, the platform facilitates both guided and exploratory learning experiences, allowing users to tackle real-world scenarios through various challenges, including capture the flag-style exercises. This approach enables cybersecurity professionals to improve their offensive and defensive capabilities, better preparing them for diverse cyber challenges. By offering tools for skills development and talent assessment, Hack The Box plays a crucial role in advancing cybersecurity readiness in the modern digital landscape.

Expel

Series E in 2022
Expel, Inc. is a cybersecurity company that specializes in managed security software and services. Founded in 2016 and based in Herndon, Virginia, Expel offers a comprehensive security operations center (SOC)-as-a-service, which includes managed detection and response (MDR), threat hunting, remediation, and phishing support. The company’s platform, known as the Expel Workbench™, facilitates a collaborative experience, allowing customers to engage actively in their security operations. Users can monitor live investigations or receive detailed alerts throughout the investigative process. Expel’s approach emphasizes transparency and efficiency, enabling security teams to focus on strategic priorities while swiftly addressing threats such as ransomware, phishing, and supply chain attacks. With dedicated analysts available around the clock, Expel aims to enhance organizations' security posture by swiftly identifying and mitigating risks while reducing the noise of false positives.

Nisos

Series B in 2022
Nisos is a managed intelligence and investigations firm that delivers cybersecurity and investigation platform-enabled services and products to address platform abuse, supply chain integrity, and nation-state level hacking. It offers protection of reputation and assets through adversarial attribution, incident response, valuation and diligence, threat detection and mitigation. Founded in 2015 and headquartered in Alexandria, Virginia, Nisos helps clients protect their assets and information in increasingly hostile digital environments.

Expel

Series E in 2021
Expel, Inc. is a cybersecurity company that specializes in managed security software and services. Founded in 2016 and based in Herndon, Virginia, Expel offers a comprehensive security operations center (SOC)-as-a-service, which includes managed detection and response (MDR), threat hunting, remediation, and phishing support. The company’s platform, known as the Expel Workbench™, facilitates a collaborative experience, allowing customers to engage actively in their security operations. Users can monitor live investigations or receive detailed alerts throughout the investigative process. Expel’s approach emphasizes transparency and efficiency, enabling security teams to focus on strategic priorities while swiftly addressing threats such as ransomware, phishing, and supply chain attacks. With dedicated analysts available around the clock, Expel aims to enhance organizations' security posture by swiftly identifying and mitigating risks while reducing the noise of false positives.

SCYTHE

Series A in 2021
SCYTHE Inc. is a cybersecurity company based in Arlington, Virginia, founded in 2017. It specializes in designing and developing an adversary emulation platform tailored for enterprises and cybersecurity consulting markets. The SCYTHE platform empowers organizations to construct and simulate a variety of adversarial campaigns swiftly, enabling Red, Blue, and Purple teams to assess and validate their security controls effectively. By allowing organizations to continuously evaluate their risk posture and exposure to cyber threats, SCYTHE helps enhance the performance of security teams and ensures that clients can implement appropriate cybersecurity measures and frameworks.

Hack The Box

Series A in 2021
Hack The Box Ltd. is a company that operates an online platform focused on enhancing skills in penetration testing and cybersecurity for individuals, organizations, and educational institutions. Founded in 2017 and based in Folkestone, United Kingdom, the platform facilitates both guided and exploratory learning experiences, allowing users to tackle real-world scenarios through various challenges, including capture the flag-style exercises. This approach enables cybersecurity professionals to improve their offensive and defensive capabilities, better preparing them for diverse cyber challenges. By offering tools for skills development and talent assessment, Hack The Box plays a crucial role in advancing cybersecurity readiness in the modern digital landscape.

Vectrix

Seed Round in 2020
Vectrix helps IT and security teams detect security issues across their SaaS applications. It looks at both data and users in SaaS apps to alert teams to issues ranging from unauthorized user access and file exposure to misconfigurations and shadow IT.

Nisos

Venture Round in 2020
Nisos is a managed intelligence and investigations firm that delivers cybersecurity and investigation platform-enabled services and products to address platform abuse, supply chain integrity, and nation-state level hacking. It offers protection of reputation and assets through adversarial attribution, incident response, valuation and diligence, threat detection and mitigation. Founded in 2015 and headquartered in Alexandria, Virginia, Nisos helps clients protect their assets and information in increasingly hostile digital environments.

Expel

Series D in 2020
Expel, Inc. is a cybersecurity company that specializes in managed security software and services. Founded in 2016 and based in Herndon, Virginia, Expel offers a comprehensive security operations center (SOC)-as-a-service, which includes managed detection and response (MDR), threat hunting, remediation, and phishing support. The company’s platform, known as the Expel Workbench™, facilitates a collaborative experience, allowing customers to engage actively in their security operations. Users can monitor live investigations or receive detailed alerts throughout the investigative process. Expel’s approach emphasizes transparency and efficiency, enabling security teams to focus on strategic priorities while swiftly addressing threats such as ransomware, phishing, and supply chain attacks. With dedicated analysts available around the clock, Expel aims to enhance organizations' security posture by swiftly identifying and mitigating risks while reducing the noise of false positives.

Expel

Series C in 2019
Expel, Inc. is a cybersecurity company that specializes in managed security software and services. Founded in 2016 and based in Herndon, Virginia, Expel offers a comprehensive security operations center (SOC)-as-a-service, which includes managed detection and response (MDR), threat hunting, remediation, and phishing support. The company’s platform, known as the Expel Workbench™, facilitates a collaborative experience, allowing customers to engage actively in their security operations. Users can monitor live investigations or receive detailed alerts throughout the investigative process. Expel’s approach emphasizes transparency and efficiency, enabling security teams to focus on strategic priorities while swiftly addressing threats such as ransomware, phishing, and supply chain attacks. With dedicated analysts available around the clock, Expel aims to enhance organizations' security posture by swiftly identifying and mitigating risks while reducing the noise of false positives.

SCYTHE

Seed Round in 2018
SCYTHE Inc. is a cybersecurity company based in Arlington, Virginia, founded in 2017. It specializes in designing and developing an adversary emulation platform tailored for enterprises and cybersecurity consulting markets. The SCYTHE platform empowers organizations to construct and simulate a variety of adversarial campaigns swiftly, enabling Red, Blue, and Purple teams to assess and validate their security controls effectively. By allowing organizations to continuously evaluate their risk posture and exposure to cyber threats, SCYTHE helps enhance the performance of security teams and ensures that clients can implement appropriate cybersecurity measures and frameworks.

Expel

Series B in 2018
Expel, Inc. is a cybersecurity company that specializes in managed security software and services. Founded in 2016 and based in Herndon, Virginia, Expel offers a comprehensive security operations center (SOC)-as-a-service, which includes managed detection and response (MDR), threat hunting, remediation, and phishing support. The company’s platform, known as the Expel Workbench™, facilitates a collaborative experience, allowing customers to engage actively in their security operations. Users can monitor live investigations or receive detailed alerts throughout the investigative process. Expel’s approach emphasizes transparency and efficiency, enabling security teams to focus on strategic priorities while swiftly addressing threats such as ransomware, phishing, and supply chain attacks. With dedicated analysts available around the clock, Expel aims to enhance organizations' security posture by swiftly identifying and mitigating risks while reducing the noise of false positives.

Bugcrowd

Series C in 2018
Bugcrowd develops an AI-powered platform that connects businesses with trusted cybersecurity researchers. It offers comprehensive security testing solutions for web, mobile, source code, and client-side applications. Serving various sectors, Bugcrowd helps organizations identify vulnerabilities and strengthen their defenses against sophisticated threats.

Expel

Series A in 2016
Expel, Inc. is a cybersecurity company that specializes in managed security software and services. Founded in 2016 and based in Herndon, Virginia, Expel offers a comprehensive security operations center (SOC)-as-a-service, which includes managed detection and response (MDR), threat hunting, remediation, and phishing support. The company’s platform, known as the Expel Workbench™, facilitates a collaborative experience, allowing customers to engage actively in their security operations. Users can monitor live investigations or receive detailed alerts throughout the investigative process. Expel’s approach emphasizes transparency and efficiency, enabling security teams to focus on strategic priorities while swiftly addressing threats such as ransomware, phishing, and supply chain attacks. With dedicated analysts available around the clock, Expel aims to enhance organizations' security posture by swiftly identifying and mitigating risks while reducing the noise of false positives.

Cofense

Series C in 2016
Cofense specializes in anti-phishing threat management solutions, protecting businesses from phishing, malware, and drive-by attacks. Its key offerings include Cofense Triage for real-time attack insights, Cofense Reporter for employee reporting of suspicious emails, and Cofense Vision for comprehensive attack understanding. Additionally, Cofense provides intelligence services, a learning management system for cybersecurity awareness, and professional services such as consulting. Serving a wide range of industries, Cofense's platform leverages a global network of trained employees to report suspected threats, enhancing detection and response capabilities that complement existing email gateway technologies.

Bugcrowd

Series B in 2016
Bugcrowd develops an AI-powered platform that connects businesses with trusted cybersecurity researchers. It offers comprehensive security testing solutions for web, mobile, source code, and client-side applications. Serving various sectors, Bugcrowd helps organizations identify vulnerabilities and strengthen their defenses against sophisticated threats.

Cofense

Series B in 2015
Cofense specializes in anti-phishing threat management solutions, protecting businesses from phishing, malware, and drive-by attacks. Its key offerings include Cofense Triage for real-time attack insights, Cofense Reporter for employee reporting of suspicious emails, and Cofense Vision for comprehensive attack understanding. Additionally, Cofense provides intelligence services, a learning management system for cybersecurity awareness, and professional services such as consulting. Serving a wide range of industries, Cofense's platform leverages a global network of trained employees to report suspected threats, enhancing detection and response capabilities that complement existing email gateway technologies.

Bugcrowd

Series A in 2015
Bugcrowd develops an AI-powered platform that connects businesses with trusted cybersecurity researchers. It offers comprehensive security testing solutions for web, mobile, source code, and client-side applications. Serving various sectors, Bugcrowd helps organizations identify vulnerabilities and strengthen their defenses against sophisticated threats.

Bugcrowd

Seed Round in 2013
Bugcrowd develops an AI-powered platform that connects businesses with trusted cybersecurity researchers. It offers comprehensive security testing solutions for web, mobile, source code, and client-side applications. Serving various sectors, Bugcrowd helps organizations identify vulnerabilities and strengthen their defenses against sophisticated threats.

Cofense

Series A in 2012
Cofense specializes in anti-phishing threat management solutions, protecting businesses from phishing, malware, and drive-by attacks. Its key offerings include Cofense Triage for real-time attack insights, Cofense Reporter for employee reporting of suspicious emails, and Cofense Vision for comprehensive attack understanding. Additionally, Cofense provides intelligence services, a learning management system for cybersecurity awareness, and professional services such as consulting. Serving a wide range of industries, Cofense's platform leverages a global network of trained employees to report suspected threats, enhancing detection and response capabilities that complement existing email gateway technologies.

Arxan Technologies

Series C in 2007
Arxan Technologies, Inc. is a leading provider of application protection solutions, specializing in safeguarding critical applications deployed across various platforms, including mobile devices, desktops, and embedded systems in the Internet of Things (IoT). The company offers a range of services designed to protect both source and binary code, enhancing the security perimeter for organizations. Its product lineup includes GuardIT, EnsureIT, TransformIT, and Arxan for Web, which utilize advanced technologies such as code hardening, obfuscation, white-box cryptography, and threat analytics. Arxan's solutions cater to diverse sectors, including financial services, healthcare, automotive, gaming, and e-commerce, and are designed to operate without interfering with software development processes or runtime performance. In addition to its software products, the company provides professional services, including risk assessments and protection design, aimed at ensuring comprehensive security for its clients. Founded in 2001 and headquartered in San Francisco, California, Arxan Technologies has established strategic alliances with notable firms to enhance its offerings.

Core Security

Venture Round in 2004
Core Security Technologies, Inc., established in 1996 and headquartered in Boston, Massachusetts, specializes in vulnerability assessment and management solutions. Its primary products are Core Insight, a vulnerability management system that centralizes and prioritizes security initiatives across an organization, and Core Impact Pro, which simulates real-world cyber attacks to identify potential vulnerabilities. The company also offers a range of professional services, including penetration testing, application security testing, and wireless penetration testing. Core Security serves a diverse client base across industries such as education, energy, finance, government, healthcare, and technology, helping them manage security risks and make informed remediation decisions. As of 2015, it operates as a subsidiary of Courion Corporation.

Arxan Technologies

Series B in 2003
Arxan Technologies, Inc. is a leading provider of application protection solutions, specializing in safeguarding critical applications deployed across various platforms, including mobile devices, desktops, and embedded systems in the Internet of Things (IoT). The company offers a range of services designed to protect both source and binary code, enhancing the security perimeter for organizations. Its product lineup includes GuardIT, EnsureIT, TransformIT, and Arxan for Web, which utilize advanced technologies such as code hardening, obfuscation, white-box cryptography, and threat analytics. Arxan's solutions cater to diverse sectors, including financial services, healthcare, automotive, gaming, and e-commerce, and are designed to operate without interfering with software development processes or runtime performance. In addition to its software products, the company provides professional services, including risk assessments and protection design, aimed at ensuring comprehensive security for its clients. Founded in 2001 and headquartered in San Francisco, California, Arxan Technologies has established strategic alliances with notable firms to enhance its offerings.
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