An investing arm of Goldman Sachs has made a $35 million first round investment in iboss Cybersecurity, an 11-year-old San Diego tech firm, The Post has learned.
The investment by Goldman Sachs Private Capital Investing Group, which invests in middle-market companies, comes a little over a year after hackers gained access to the personal information of 83 million of JPMorgan’s customers.
The 2014 hack of the bank has led to a race on Wall Street to invest in ever-more complex cybersecurity companies.
iboss monitors the flow of information out of a company as a way to detect if a company’s data has been breached by hackers, Peter Martini, president and co-founder, told The Post.
“If you stop them from stealing the data, you stop the mission of the bad guy,” Martini, who started the company with his twin brother Paul, said.
The company has $35 million in revenue from recurring customers and holds 88 patents, Martini added.
With the investment, Stephen Kerns, a vice president of the investing group, will join the board, according to a statement from the company.
Tiffany Galvin, a spokeswoman for Goldman, declined to comment on the investment.