Vendor Spotlight: Fortra

Fortra has only existed since 2022 but that name is a rebrand of a much older company. Tracing the history of the company back to its origin takes us to 1982.

The business has acquired a lot of useful products by buying up other companies, increasingly focusing on cybersecurity systems. The company is still private and largely owned by a group of private equity firms. This is an American company and all of its shareholders are also based in the USA.

Founding and Background

Fortra LLC came into being on the 2nd November 2022. However, this company has a much longer history. The registration of Fortra was just a renaming of an older company, called HelpSystems LLC and that company came into being on the 1st April 1988. However, we still have got right to the root of Fortra because we need to go back all the way to 1st April 1982 and the foundation of Help/38 Inc.

Help/38 was founded by Richard Jacobsen. Along with two consultants, Tom Mueller and Tom Leahy, he created the corporate structure to own, manage, and market a piece of software that he had written. This was a scheduling utility for IBM iSeries (previously known as AS/400). Jacobsen specialized in administration and programming for this system and went on to produce more commercial products for it, building the product list of Help/38.

The systems produced by Help/38 implemented system security auditing and then expanded into process automation software. The founders took on employees and hired Janet Dryer as CEO in June 1985. By 1988, the business had grown to be an established software house with 12 employees. At this point, the owners chose to rebrand its product and change the company structure, becoming HelpSystems, LLC.

Over time, the company diversified its product portfolio and extended beyond IBM i systems to support other platforms like Windows, Linux, and Unix. By offering automation, monitoring, and cybersecurity solutions, HelpSystems became a global leader in these domains.

The three founders of the company ceased to be involved with it in 2005 when they sold HelpSystems to Summit Partners, a private equity firm. The investor decided to use HelpSystems as a holding company for all of its cybersecurity purchases. Thus, the company grew rapidly through a series of acquisitions.

Summit Partners sold HelpSystems to Audax Group in 2007, but then invested again in 2012. Summit’s financial injection into the company took the form of both an equity purchase and a loan.

The business then went through a series of nine debt-financed acquisitions, before Audax Group and Summit Partners sold the company to HIG Capital, HGGC, and Split Rock Capital in 2015. Chris Heim, who had been director of the company since 2012, became the CEO in December 2014. At that time, Dryer became Executive Chairman. That role progression was repeated in July 2019 when Heim moved to the Executive Chairman position. At that time, Katherine (Kate) Bolseth became the CEO and she is still in that role today.

HGGC took a controlling interest in April 2018. TA Associates and Charlesbank Capital Partners bought into the company in October 2019. Harvest Partners SCF LP invested in the business in 2021.

HelpSystems reincorporated as Fortra LLC in 2022. This name reflects an enhanced focus on cybersecurity, particularly in areas like threat detection, data protection, and security automation. The rebranding to Fortra also symbolized the company’s evolution from its original mission into a more security-driven organization.

Acquisitions

Growth by acquisition has been a major part of the Fortra story since Summit Partners first got involved with HelpSystems.

Here is a list of the significant purchases made by the company:

1. PowerTech – April 2008
2. Bytware – May 2008
3. Safestone Technologies – June 2012
4. GoAnywhere – June 2012
5. InterMapper – August 2012
6. SkyView Partners – September 2012
7. Tango/04 – November 2012
8. Fox Technologies – December 2012
9. IBM’s ShowCase – March 2013
10. CCSS – October 2015
11. Linoma Software – June 2016
12. Coglin Mill – July 2016
13. RJS – July 2016
14. Network Automation – July 2016
15. Halcyon Software – October 2016
16. TeamQuest – December 2016
17. Fox Technologies – January 2018
18. Midrange Performance Group – August 2018
19. SecureAuth – February 2019
20. Core Security – February 2019
21. Clearswift – December 2019
22. Vera – January 2020
23. Strategic Cyber – March 2020
24. Cobalt Strike – March 2020
25. Titus – April 2020
26. Boldon James – April 2020
27. GlobalScape – July 2020
28. FileCatalyst – January 2021
29. Digital Defense – February 2021
30. New Net Technologies (NNT) – March 2021
31. Beyond Security – May 2021
32. Agari – June 2021
33. PhishLabs – October 2021
34. Kofax (RPA Division) – October 2021
35. Digital Guardian – October 2021
36. Tripwire – February 2022
37. Alert Logic – March 2022
38. Terranova Security – April 2022
39. JiVS IMP – August 2022
40. Outflank – September 2022
41. SpearTip – September 2022
42. Clearwater Compliance – August 2023

Timeline and Evolution

• April 1, 1982: Help/38 Inc. was founded by Richard Jacobsen, Tom Mueller, and Tom Leahy.
• June 1985: Janet Dryer appointed CEO of Help/38 Inc.
• April 1, 1988: Help/38 Inc. rebrands to HelpSystems LLC.
• October 2005: HelpSystems sold to Summit Partners.
• April 2008: HelpSystems acquires PowerTech.
• May 2008: Acquires Bytware, further expanding its portfolio.
• October 2007: HelpSystems sold to Audax Group.
• April 2012: Summit Partners invests again, taking a controlling interest.
• June 2012: Acquires Safestone Technologies and GoAnywhere. The company expands its cybersecurity offerings.
• August 2012: Acquires InterMapper.
• September 2012: Acquires SkyView Partners.
• November 2012: Acquires Tango/04.
• December 2012: Acquires Fox Technologies.
• March 2013: Acquires IBM’s ShowCase.
• December 2014: Chris Heim becomes CEO, and Janet Dryer transitions to Executive Chairman.
• October 2015: Acquires CCSS.
• October 2015: HIG Capital, HGGC, and Split Rock Capital acquire HelpSystems. June 2016: Acquires Linoma Software.
• July 2016: Acquires Coglin Mill, RJS, and Network Automation, further bolstering its automation and data management portfolio.
• October 2016: Acquires Halcyon Software.
• December 2016: Acquires TeamQuest.
• January 2018: Acquires Fox Technologies again.
• April 2018: HGGC takes a majority holding.
• August 2018: Acquires Midrange Performance Group.
• February 2019: Acquires SecureAuth and Core Security, reinforcing its cybersecurity portfolio.
• July 2019: Katherine (Kate) Bolseth appointed CEO, while Chris Heim becomes Executive Chairman.
• October 2019: TA Associates and Charlesbank Capital Partners bought into the company.
• December 2019: Acquires Clearswift, a leader in data loss prevention.
• January 2020: Acquires Vera, enhancing secure file sharing.
• March 2020: Acquires Strategic Cyber and Cobalt Strike, gaining key offensive security technologies.
• April 2020: Acquires Titus and Boldon James, boosting data classification capabilities.
• July 2020: Acquires GlobalScape, strengthening managed file transfer solutions.
• January 2021: Acquires FileCatalyst, expanding its file acceleration solutions.
• February 2021: Acquires Digital Defense, enhancing its vulnerability management solutions.
• March 2021: Acquires New Net Technologies (NNT), adding IT security and compliance solutions.
• May 2021:Harvest Partners SCF LP invests in the business.
• May 2021: Acquires Beyond Security, reinforcing its security testing tools.
• June 2021: Acquires Agari, boosting email security capabilities.
• October 2021: Acquires PhishLabs, Kofax (RPA Division), and Digital Guardian, expanding into phishing defense and robotic process automation (RPA).
• February 2022: Acquires Tripwire, a major player in security and compliance.
• March 2022: Acquires Alert Logic, further enhancing threat detection capabilities.
• April 2022: Acquires Terranova Security, specializing in security awareness training.
• August 2022: Acquires JiVS IMP, adding data lifecycle management capabilities.
• September 2022: Acquires Outflank and SpearTip, strengthening offensive security testing and managed detection services.
• November 2, 2022: HelpSystems rebrands to Fortra LLC, emphasizing its transition into a cybersecurity-focused company.
• August 2023: Acquires Clearwater Compliance, bolstering regulatory and privacy risk management solutions.

Company Ownership

Fortra is a private company, and so it doesn’t have to publish its share register. However, it is known that the company is entirely owned by private equity funds. These are:

• HGGC – Controlling stake
• TA Associates
• Harvest Partners
• Charlesbank Capital Partners

Locations

Fortra, formerly known as HelpSystems, has its headquarters in Eden Prairie, Minnesota. Additionally, Fortra has a global presence with offices and team members in more than 20 countries.

Fortra Target Market and Customer Base

Fortra, formerly HelpSystems, focuses on providing cybersecurity, automation, and data protection solutions across multiple industries. Over the years, the company has expanded its portfolio to cater to diverse platforms, including IBM iSeries, Windows, Linux, Unix, and cloud environments. Here’s a breakdown of Fortra’s target market and customer base:

Target Market

Fortra’s products and services are aimed at organizations with complex IT environments and security needs, including:

• Mid-sized to large enterprises: Companies requiring thorough security solutions for managing data, automating tasks, and protecting sensitive information from cyber threats.
• Regulated industries: Sectors that must comply with stringent regulations, such as healthcare, finance, government, and insurance, requiring advanced security tools for compliance management, privacy protection, and risk reduction.
  • Healthcare: Solutions like vulnerability management, data classification, and HIPAA compliance are crucial for protecting sensitive patient data.
  • Financial services: Fortra provides cybersecurity tools to help financial institutions comply with regulations like GDPR and PCI-DSS, protecting client data and financial transactions.
  • Government agencies: Solutions for security automation, threat detection, and compliance are designed to meet the strict regulatory needs of public sector entities.
• Cybersecurity and IT teams: Security professionals and IT departments responsible for network monitoring, automation, and responding to potential breaches.
• Global enterprises: Multinational organizations across industries that require cybersecurity, threat detection, and secure data transfer across a variety of platforms, including cloud-based solutions.
• Manufacturing and critical infrastructure: Industries needing specialized cybersecurity and automation to protect operational technologies and ensure uninterrupted business continuity.

Customer Base

Fortra serves thousands of organizations worldwide, spanning a wide range of industries and sectors. Its customers typically include:

• Fortune 500 companies: Large global organizations that demand comprehensive cybersecurity solutions for threat management, compliance, and secure data handling.
• Financial institutions: Banks, investment firms, and financial service providers that rely on Fortra’s solutions for regulatory compliance, risk management, and secure file transfers.
• Healthcare providers: Hospitals, medical centers, and healthcare systems that use Fortra’s tools to secure patient data and comply with health regulations like HIPAA.
• Government agencies: Local, state, and federal agencies that implement Fortra’s solutions for secure communication, compliance, and threat detection.
• Small and mid-sized enterprises (SMEs): Though primarily aimed at larger organizations, Fortra also provides scalable solutions for SMEs, particularly in sectors like healthcare, finance, and manufacturing, where regulatory compliance and data security are key concerns.
• IT service providers and managed service providers (MSPs): Firms offering IT security and automation services to other companies use Fortra’s suite of tools to manage infrastructure and protect client data.

Key Product Segments for the Market

• Cybersecurity solutions: Fortra’s cybersecurity offerings cover threat detection, penetration testing, secure file transfer, email security, data loss prevention, and more.
• Automation: Fortra provides business process automation, IT management, and robotic process automation (RPA) tools, which reduce operational costs and improve efficiency.
• Data protection: Solutions for data encryption, data classification, and secure file transfer, ensuring organizations can protect sensitive information from breaches or misuse.
• Compliance management: Tools that help organizations comply with industry regulations, including PCI-DSS, HIPAA, and GDPR, safeguarding them from legal risks and penalties.

Geographic Reach

Fortra has a global presence, catering to customers across North America, Europe, Asia-Pacific, and Latin America. It works with businesses and governments worldwide, thanks to its broad range of solutions and its focus on cybersecurity, which is a universal priority.

Fortra Product Suite

Fortra offers a comprehensive suite of security and automation solutions aimed at helping organizations manage their IT security needs. Here’s a breakdown of some key products and features within the Fortra product suite:

Key Products in Fortra’s Suite

1. HelpSystems/Fortra Security Products:
   • Cybersecurity Solutions: Tools for threat detection, vulnerability management, and incident response.
   • Email Security: Solutions to protect against phishing attacks and email fraud.
   • Identity and Access Management (IAM): Solutions that manage user identities and access rights to secure systems.
2. IT Automation and Workflow:
   • Automate: A tool designed to automate IT tasks and workflows, reducing manual work and improving efficiency.
   • Scheduling Software: For automated scheduling of tasks, jobs, and workflows across different systems.
3. Data Protection and Backup:
   • Data Loss Prevention (DLP): Solutions that monitor and protect sensitive data from unauthorized access and breaches.
   • Backup and Recovery: Tools for data backup, recovery, and business continuity to ensure data integrity.
4. Compliance Solutions:
   • Compliance Management: Tools designed to help organizations adhere to various compliance regulations, such as GDPR, HIPAA, and PCI DSS.
   • Audit and Reporting Tools: Solutions that assist in monitoring compliance status and generating necessary reports.
5. Security Training and Awareness:
   • Security Awareness Training: Programs aimed at educating employees on cybersecurity risks and best practices to reduce human error.
6. Managed Security Services:
   • Security Operations Center (SOC): Fortra offers managed security services that include 24/7 monitoring and incident response to enhance organizational security posture.

Industry Focus

Fortra products cater to a range of industries, including healthcare, finance, manufacturing, and education, providing tailored solutions to meet the specific regulatory and operational needs of each sector.

Integrations and Compatibility

Fortra’s solutions often integrate with existing IT infrastructure, providing flexibility and scalability for businesses looking to enhance their security and automation efforts.

Product Suite Summary

Fortra’s product suite is designed to provide organizations with comprehensive security and automation tools to manage risks, protect sensitive data, and improve operational efficiency. Their focus on integration and industry-specific solutions makes them a versatile choice for many organizations.

Fortra Flagship Product: Digital Guardian

Fortra Digital Guardian is a prominent data loss prevention (DLP) solution designed to help organizations protect their sensitive data across various environments, including endpoints, cloud services, and networked devices. Here’s a detailed review of its features, strengths, and potential drawbacks.

The platform protects data through comprehensive visibility and control mechanisms. It is ideal for industries that handle sensitive data, such as healthcare, finance, and government sectors.

The key services offered by the Digital Guardian package are:

1. Data Classification and Discovery

• Automatically identifies and classifies sensitive data, including personally identifiable information (PII), intellectual property, and financial data.
• Offers customizable policies to adapt to specific organizational needs.

2. Endpoint Protection

• Provides real-time monitoring and control over endpoints to prevent unauthorized access and data exfiltration.
• Includes features like file-level encryption and user activity monitoring.

3. Data Loss Prevention

• Prevents data breaches by controlling how data is used, stored, and transmitted.
• Can block, monitor, or alert on data transfers based on predefined policies.

4. Cloud Security

• Protects data in cloud applications, including SaaS environments, with strongDLP capabilities.
• Supports integrations with popular cloud services like Microsoft 365, Salesforce, and others.

5. Network DLP

• Monitors and protects data moving across the network, ensuring sensitive information does not leave the organization unprotected.

6. User Behavior Analytics

• Uses advanced analytics to detect unusual user behavior that may indicate a security threat or data breach.

7. Reporting and Analytics

• Provides detailed reporting on data usage and potential threats, enabling organizations to track compliance and make informed security decisions.
• Includes dashboards for real-time visibility into data protection efforts.

Use Cases:

• Healthcare: Protects patient data and ensures compliance with HIPAA regulations.
• Finance: Safeguards sensitive financial information, preventing unauthorized access and data breaches.
• Government: Secures classified and sensitive information to adhere to government regulations.

Digital Guardian Summary

Fortra Digital Guardian is a powerful data loss prevention solution that provides organizations with comprehensive tools for protecting sensitive information across various platforms. While it offers comprehensive features and customization options, the potential costs and implementation complexities may be considerations for some organizations. Overall, it’s an excellent choice for enterprises looking to strengthen their data protection strategies and comply with regulatory requirements.

Other Notable Products

Fortra has a very large product list with tools such as workload automation and cybersecurity protection systems. So, choosing the most notable products is a difficult task.

1. Tripwire

Tripwire is a leading cybersecurity solution that focuses on file integrity monitoring and compliance automation. It includes tools to monitor changes in their IT environments, ensuring that any unauthorized modifications to files, configurations, or systems are detected promptly.

The platform provides visibility and control over complex IT infrastructures, making it particularly valuable for organizations that must comply with stringent regulatory standards such as PCI DSS, HIPAA, and NIST. Tripwire’s centralized management interface allows security teams to efficiently manage alerts, perform audits, and maintain compliance across various environments, including on-premises and cloud infrastructures.

One of Tripwire’s standout features is its ability to integrate with existing security tools and systems, enhancing overall security postures. It offers real-time monitoring capabilities, enabling organizations to quickly respond to potential threats or vulnerabilities.

2. GoAnywhere MFT

GoAnywhere is a comprehensive managed file transfer (MFT) solution designed to facilitate secure and efficient data exchange within organizations and between external partners. It enables businesses to automate the transfer of files across various protocols, such as SFTP, FTPS, and HTTPS, ensuring that sensitive data is transmitted securely.

This MFT has integration capabilities with other systems, including ERP and CRM solutions, making it a versatile choice for organizations looking to streamline their file transfer processes. The platform’s user-friendly interface allows users to easily create, schedule, and manage file transfer workflows, enhancing productivity and reducing the risk of human error.

In addition to its strong file transfer capabilities, GoAnywhere prioritizes security and compliance, providing built-in encryption, detailed audit logs, and customizable access controls. These features help organizations meet regulatory requirements, such as HIPAA and GDPR, while maintaining the confidentiality and integrity of their data.

Major Competitors

Here are some major competitors to Fortra:

1. Symantec (Broadcom) Symantec, now part of Broadcom, is a well-established leader in cybersecurity solutions. It offers a wide range of products, including endpoint protection, DLP, and threat intelligence. Symantec’s Integrated Cyber Defense platform combines various security solutions to protect against advanced threats. Known for its effective threat detection capabilities, the company serves diverse sectors, including finance and healthcare. Symantec’s long-standing reputation and comprehensive security offerings make it a formidable competitor in the cybersecurity landscape.
2. McAfee Provides a suite of cybersecurity solutions focused on endpoint protection, cloud security, and data loss prevention. Its products are designed to secure devices, applications, and networks against cyber threats. McAfee’s focus on cloud security, particularly with its MVISION platform, positions it well for organizations transitioning to cloud environments. With strong analytics and machine learning capabilities, McAfee offers effective threat detection and response, making it a strong competitor in the cybersecurity market.
3. Palo Alto Networks A leading cybersecurity provider known for its next-generation firewall and advanced threat prevention technologies. The company offers a comprehensive suite of security products, including endpoint protection, cloud security, and threat intelligence services. With a strong focus on innovation, Palo Alto Networks employs AI and machine learning to enhance threat detection and response capabilities. Its innovative solutions cater to enterprises looking for integrated security across on-premises and cloud environments, positioning it as a key competitor to Fortra.
4. Cisco A global leader in networking and cybersecurity solutions, offering a wide range of products that include firewalls, intrusion prevention systems, and secure access technologies. The Cisco SecureX platform integrates security across networks, endpoints, and cloud environments, providing organizations with comprehensive visibility and threat detection capabilities. Cisco’s established market presence, along with its focus on secure networking solutions, makes it a significant competitor to Fortra in the cybersecurity space.
5. Forcepoint Specializes in data security and insider threat detection, providing solutions that focus on protecting sensitive data while ensuring user productivity. Its platform combines DLP, threat detection, and secure access solutions to safeguard data across on-premises and cloud environments. With advanced behavioral analytics and machine learning capabilities, Forcepoint addresses evolving cyber threats effectively. The company’s focus on human-centric security strategies positions it as a strong competitor to Fortra in the data protection and cybersecurity market.
6. IBM Security Offers a wide range of cybersecurity solutions, including threat intelligence, identity and access management, and data protection. Its QRadar platform provides advanced security information and event management (SIEM) capabilities, enabling organizations to detect and respond to threats in real-time. IBM’s emphasis on integrating AI and automation into its security products enhances threat detection and incident response efficiency. Its extensive portfolio and strong presence in enterprise security make IBM a formidable competitor to Fortra.

Spotlight Wrap-Up

The private equity funds that have owned HelpSystems and Fortra over the decades had a strategy to make their company a high-value conglomerate that offers a long list of products in the workload automation and cybersecurity fields. They have certainly succeeded because the Fortra family of products is very large. This company will probably continue to grow by acquisition and expand its value for its shareholders.