Client News/Details

Snell & Wilmer Advises Technology-Focused Growth Equity Firm Blueprint Equity as it Leads $8 Million Series A Funding of Sprocket Security

March 28, 2024

SAN DIEGO - Snell & Wilmer represented San Diego-based client Blueprint Equity as it led Series A funding of Sprocket Security, an offensive security solutions platform. Blueprint Equity provides expansion capital to high-growth, capital efficient enterprise software and technology-enabled service businesses worldwide. Wisconsin-based Capital Midwest Fund also participated. The funding will accelerate Sprocket’s platform development, fuel customer success, and expand sales and marketing initiatives.

“Within an ever-changing cybersecurity landscape, the only constant is the presence of threat actors. Constant vigilance, or penetration testing, is critical in understanding how and the extent to which vulnerabilities can be exploited by sophisticated hacker techniques. We see a growing demand among CISOs and IT security leaders for proactive security solutions as they look to harden the growing attack surface within their respective organizations,” said Blueprint Equity’s Vice President John Bonhard in a recent press release. Bonhard will also join Sprocket’s Board of Directors. 

Bonhard went on to say, “Casey [Cammilleri, Sprocket CEO] and his COO, Gaurav Kulkarni, are solving this problem with unparalleled execution that customers have only described as a ‘true partnership.’ We’re honored to partner with outstanding leaders and domain experts like Casey and Gaurav.”

A diverse Snell & Wilmer deal team led by Corporate and Securities Partner Bardia Moayedi including Sarah Hibbard, Christopher Franich, Bahar Schippel, and paralegal Scot Drake advised Blueprint Equity in the funding.

Snell & Wilmer's corporate and securities attorneys have served as counsel to a substantial number of clients ranging from Fortune 100 companies to smaller emerging businesses. Our attorneys have provided sophisticated legal representation to biotech companies, health care and financial institutions, public utilities, homebuilders, transportation companies, restaurant and hospitality providers, athletic complexes, fitness facilities and many other types of businesses. Snell & Wilmer’s venture capital and private equity practice covers multiple aspects of the transactional arena involving public and private companies, including the structuring and execution of majority buyouts and minority investments, acquisitions (including buy- and sell-side deals, as well as negotiated and auction deals), financings (including 144A transactions and PIPEs), going-private transactions, and spin-off transactions. Our venture capital and private equity attorneys advise both domestic and international funds, including venture capital, private equity, hedge, mezzanine, real estate opportunity, fund-of-funds, exchange, and other private investment funds.

About Snell & Wilmer 

Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals, and entrepreneurs. For more information, visit