Evolution Equity Partners

Evolution Equity Partners is a New York-based growth equity venture capital firm founded by Richard Seewald and Dennis Smith, dedicated exclusively to investing in cybersecurity companies and enterprises applying machine learning and artificial intelligence to build market-leading security platforms. The firm manages more than $2 billion in assets under management across three successive funds, closing its third and largest fund, Evolution Technology Fund III, at $1.1 billion in April 2024 in an oversubscribed raise supported by endowments, sovereign investors, insurance companies, foundations, and family offices. Evolution invests at early growth through later growth stages with checks from $20 million to $150 million per company, typically partnering with companies after they have achieved initial product-market fit and are building their commercial engines. The firm operates a distinctive Centers of Excellence for Cybersecurity Growth programme, providing portfolio companies with an intensive operating playbook covering sales and marketing, product technology, human capital strategy, mergers and acquisitions, and business development. The firm has offices in New York City, Palo Alto, London, and Zurich. Portfolio companies include SecurityScorecard, Arctic Wolf, Protect AI, Talon Cyber Security, Torq, Snyk, Aqua Security, Halcyon, Cybereason, Darktrace, and Hunter.io. Beyond its original investments in Armis, Cybereason, Darktrace, and Hunter.io, the broader portfolio spans more than 60 cybersecurity companies across network security, endpoint, identity, and AI-powered threat detection.