Oxford Solutions, a New York City-based cybersecurity company, has been bought by a venture capital outfit co-led by the owner of the Miami Dolphins football franchise.
The company, whose name will change to Skout Secure Intelligence as part of the reported $30m deal, was acquired by RSE Ventures, headed by Dolphins owner Stephen M. Ross and co-founder Matt Higgins, who also serves as an executive for the sports team.
Adrian Kehoe, an Irish entrepreneur, founded Oxford Solutions in 2012, the same year Ross and Higgins launched RSE. It provides security monitoring to over 800 companies globally. Skout will manage $8tr in assets under protection for large and SME businesses, and monitors over 20m alerts daily.
“Cyber security is like healthcare,” Kehoe said in a statement. “We all need access to it. With 1.5 million job openings in the industry, a shortage in expertise, and the increasing cost of technology, many small to midsize firms understand they are at risk, but don’t know how to protect themselves.”
Ross, who has made his fortune in real estate, will join Skout’s board of directors under the deal. Higgins will join him. As RSE Ventures they have become known for investing in sports technology outfits like Ascendant Sports Group and Fanvision Entertainment.
But while their Oxford Solutions deal appears a departure from RSE’s modus operandi, Higgins insists the move is a timely one. “We are hearing a consistent message from our portfolio; there is a gap in the marketplace for a company that serves the needs of small to mid-sized businesses, makes cyber security understandable, reassures business leaders about their security, and addresses the severe lack of human engagement in the industry,” he said.
“That’s what led us to Skout.”