According to the Australian Financial Review, two Brisbane entrepreneurs, Michael Gianarakis and Shubham Shah, have sold their cybersecurity start-up, Assetnote, to a UK-based, private equity-backed firm for more than $100 million.
The duo, who describe themselves as ethical hackers, founded Assetnote in 2018 to help major companies identify vulnerabilities in their cybersecurity. Since then, they’ve built a profitable business, attracting high-profile clients like Atlassian, Qantas, and Canva.
The buyer, Searchlight Cyber, is a dark web intelligence company owned by Charlesbank Capital Partners, a Boston-based private equity firm. Searchlight Cyber works with government and corporate clients to track and disrupt ransomware groups and cybercriminals.
