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When strategic planning with our portfolio companies, there is always a temptation to focus on questions related to offense: where are we going, what new initiatives are we prioritizing, what new geographies are we moving into, and what hires are we making? After all, these growth-oriented goals tend to be the most interesting strategic conversations to have. What we also make sure our companies are addressing are the things related to defense: what are our potential downside risks and how do we proactively address them now to mitigate possible negative effects? As we’ve chatted over the last 12 months, cybersecurity has been increasingly addressed in these discussions.
Just a few years ago, cybersecurity was not on the radar for most middle-market companies. Ransomware attacks and phishing were known threats but occurrences were relatively rare, and the costs to mitigate were manageable. Unfortunately, over the…
