Gary Fish invests $4M in Virginia security firm Haystax Technology
December 8, 2016 | Meghan LeVota
Kansas City-based technology accelerator Fishtech Labs announced its second investment Thursday.
Just four months after the firm invested $3 million in Overland Park’s Foresite, Fishtech injected $4 million in security analytics provider Haystax Technology.
“Once I became aware of their technology platform, there was never a second thought as to whether or not I should invest in Haystax Technology,” Fishtech CEO Gary Fish told Startland News. “It was just a matter of doing the legal work and getting it done.”
Located in McLean, Virginia, Haystax’s platform delivers security analytics and risk management tech to their customers through a patented, artificial intelligence model. Haystax was founded in 2012 and has over 500 employees.
A serial tech entrepreneur, Fish said that the technology has proved to be scalable, and he anticipates offering Haystax as an option for his customers.
“We want to enable organizations to embrace the benefits of digital transformation through next-generation security solutions,” Fish said in a release. “Haystax Technology is one of our best-of-breed partners that will help us reach this vision while leading the security analytics market into a new phase of multi-billion-dollar growth.”
Fish said that the funds will go toward Haystax’s sales and marketing efforts, including the development of a channel partner program that will extend customer reach. The firm also plans to expand into financial services and healthcare.
Since 1996, Fish has founded, acquired and sold more than a dozen technology companies, including the former FishNet security (now Optiv) and FireMon LLC.
Haystax CEO Bryan Ware said he was attracted to Fish’s decades of industry experience, which he believes will help grow his company.
“Security analytics is an emerging growth market right now, and it’s significant that Fishtech sees far-reaching value in our platform and its patented model-first approach,” Ware said in a release. “With this new funding and partnership we will be equipped to further expand our high-profile customer presence and enhance our product development.”
Fish, as well as Fishtech’s vice president of enterprise architecture Gregg Martin, will join Haystax’s board of directors.
Fishtech is currently in the process of building a swanky new office in Martin City, Mo.
Set to open in the first quarter of 2017, the $10.2 million, 20,000 square-foot building will feature an open layout, two patios and staff will have access to an in-house chef and sleeping pods for naps.
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