‘Cyderes’ emerges from Fishtech, Herjavec merger; new cybersecurity powerhouse aims to reshape market

Editor’s note: Cyderes is a financial partner of Startland News, supporting Community Builders to Watch and Startland News Live.

Security stakes are at an all-time high, said Robert Herjavec, star of ABC’s “Shark Tank” and CEO of the newly announced Cyderes — a rebranded cybersecurity leader with its sights set no lower than becoming the new industry standard.

“Across the current geopolitical landscape, we are seeing an acceleration of cyber threats like never before, and enterprises are struggling to keep up. Our customers trust us to focus on their threats, so that they can focus on their business,” said Herjavec, who leads the merged company formerly Herjavec Group and Fishtech Group. “This is a big moment for us and for our clients – I couldn’t be more thrilled to launch the Cyderes brand. We are building a global market leader, with a world-class team in the highly fragmented managed security sector.”

Cyderes’s corporate offices are located in Kansas City, Toronto, and London. The global company is continuing to hire steadily and heavily at its local campus, Cyderes said Tuesday.

Gary Fish, Cyderes; Startland News photo

Martin City-based Fishtech was founded by Gary Fish in 2016 after a series of successful business ventures and exits. The companies announced their merger in December, with Fish slated to serve as chairman of the Cyderes board.

Click here to read more from the merger’s announcement.

Cyderes, which stands for “cyber defense and response,” uses its proprietary, cloud-first technology platform called CNAP (Cloud Native Analytics Platform) to help enterprises tackle the world’s biggest cyberattacks with more than 800 security professionals operating out of six state-of-the-art global security operations centers, according to the company. As enterprises acquire ever-increasing security platforms (ex. Google, Microsoft, Splunk, Crowdstrike, CyberArk, SailPoint, Okta), the need for focused companies, such as Cyderes, to manage those disparate technologies and provide assurance becomes even greater.

“CYDERES” is a familiar name to industry followers who’ve seen the branding previously associated with Fishtech Group’s cybersecurity services and its Martin City Cyber Defense Center and expanded operations in Northwest Arkansas.

In its first quarter (Q1/22) operating as a combined entity, Cyderes saw 340 percent annual recurring revenue growth and added over 125 new hires to what is already one of the world’s largest managed security engineering teams, the company said. The combined entity won several multi-million dollar deals across its solution set.

“It’s a rare opportunity to bring together two industry leaders into one market-defining company,” said Rohan Haldea, partner at Apax Partners, a $60 billion global private equity advisory firm, which in 2021 made a majority investment in Herjavec Group, later doubled down on that investment with the previously announced merger of Fishtech. 

“The cybersecurity market continues to grow at unprecedented rates — and Cyderes will quickly become the industry standard for enterprises looking for greater assurance with their risk and cyber requirements,” Haldea continued.

Apax continues as the majority investor along with Fish and Herjavec.

The combined company’s new brand will be effective June 13, with the launch of Cyderes.com.