San Antonio Cybersecurity Firm With Federal Government Ties Gets $3M

San Antonio—A cybersecurity firm in San Antonio called Delta Risk, which has owners and board members who once held high-ranking federal government posts, has raised $3 million only a few months after acquiring a Philadelphia-based competitor, according to a regulatory filing.

Delta Risk hasn’t responded to a request for comment on how they plan to spend the $3 million. The company paid an undisclosed amount for Allied InfoSecurity, a company that assesses and manages security programs for companies in healthcare, financial services, and retail, among other industries.

Founded in 2007, Delta Risk advises its clients—a broad spectrum of customers that includes the public sector, healthcare, and large infrastructures for things like businesses or transportation systems, among others—on how to handle and prevent cyber attacks. The company also manages cybersecurity services and responds to attacks, according to its website.

In April 2015, a Washington DC-based consulting and advisory firm called The Chertoff Group acquired a majority stake in Delta Risk through an affiliate holding company, TCG Diamond Holding. TCG raised $13.8 million at the time of the acquisition, gaining total ownership of Delta Risk, according to a regulatory filing. Along with that, the co-founders of Delta Risk received a 19 percent ownership stake in TCG as a part of the deal, according to the regulatory filing.

David Leach, a board member of Delta Risk, is an executive at both Chertoff and TCG. After working at Goldman Sachs for 13 years, he became the principal and head of private equity at The Chertoff Group. He is the president of TCG.

The Chertoff Group’s founder and Delta Risk board member, Michael Chertoff, was Secretary of the U.S. Department of Homeland Security for four years until 2009 and a federal judge before that. Delta Risk’s chairman, Michael Hayden, is a retired air force general who was the director of the CIA from 2006 to 2009.

The San Antonio Business Journal first published news of the new funding.

David Holley is Xconomy's national correspondent based in Austin, TX. You can reach him at dholley@xconomy.com Follow @xconholley

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