RCS Secure Completes Series A Round, Rebrands as Third Wave Innovations

The fresh funding will allow the cybersecurity company to expand its customer base and invest in new parts of its core products and services, which include managed security, data, and IT services.

Third Wave Innovations is eying growth. As the company puts it, "data security is no longer a luxury."

Frisco-based RCS Secure has completed a Series A funding round led by Socii Capital LLC and announced it has rebranded as Third Wave Innovations.

Third Wave Innovations is a privately owned corporation that offers cybersecurity safeguards, managed IT services, and a comprehensive data platform that empowers organizations to experience their own data in new ways. Socii is a California venture investment firm focused on healthcare IT with investments in MedOne, ScriptCyle, and ProviderScience. The amount of the Series A funding was not disclosed.

Third Wave announced that the funding will allow it to grow its customer base and invest in new parts of its core products and services. The company is a provider of managed security, data, and IT services. The rebranding was done as the company looks to expand its offerings and align the company’s strategic growth.

“I am both grateful and humbled with our success and accomplishments as an organization,” Third Wave Innovations CEO Randal Asay said in a statement. “From the inception, the advancement of this company has been built on the partnerships and relationships developed over the past 30 years.”

“The quote ‘If you want to go fast, go alone; if you want to go far, go with others’ describes our past, our present, and our growth in the future!” he adds.

Socii said the firm was impressed with Third Wave as a company.

“Properly securing your IT environment to protect your data and the data of your patients is paramount in today’s healthcare environment. HealthIT care providers throughout the country are struggling to fill critical gaps in IT security needs with limited internal resources.” George Lazenby, a co-founder and partner at Socii Capital, said in a statement. 

Socii was introduced to Third Wave Innovations through one of its portfolio companies that uses their services, he says. ” We were immediately impressed with their capabilities, management team and future plans for growth. We are excited to introduce Third Wave to healthcare providers through our network and portfolio companies,” the venture partner said.

Data security is a “vital necessity”

As Third Wave Innovations puts it, “Data security is no longer a luxury.” The company, which serves markets from automotive to manufacturing and retail and healthcare, calls it a “vital necessity” for all the industries the company serves.

From its beginning as RCS Secure, the company said it has been driven to innovate and provide cutting-edge solutions within its competitive market by leveraging its employees, partners, and clients, using technology to create a more secure world. The company said it is committed to accelerating those efforts.

Third Wave said it is investing in additional people, processes, and technology to deliver a broader and more robust set of services to its clients.

Want more North Texas deal news?

Follow the money in our roundup.
Sign up for our e-newsletter, and share your deal news here

Get on the list.
Dallas Innovates, every day.

Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.

One quick signup, and you’re done.  

R E A D   N E X T

  • Two nonprofits will each receive $250,000 in grant funding. The Capital One grants are part of a $3.5 million commitment to 12 nonprofit organizations.

  • Dallas' Boss Women Media and Capital One are presenting the fourth consecutive Black Girl Magic Digital Summit. This year they aim to reach more entrepreneurs than ever before by premiering the pre-recorded event on Amazon's Prime Video. The summit will feature 26 founders, CEOs, and executives with advice on how to turn your side hustle into a main hustle, and much more. From a $100K pitch competition (apply by August 12!) and live watch parties across the U.S., get ready for the magic.

  • In this week’s roundup of hires, promotions, and accolades in North Texas, you’ll also find news from UTD's Center for Brainhealth, DART, Enseo, LiquidAgents/StaffDNA, Alpine Advanced Materials, Runway Growth Capital, Optic Gaming, Dallas Thrives, Downtown Dallas Inc., TechGenies, Kainos Capital, Texas Motor Speedway, and more.

  • Despite turmoil in the markets and layoffs making headlines, the tech job market remains relatively strong in Dallas, according to a new report. Across the country, technology companies added 20,300 net new workers in June, marking the 19th consecutive month of growth, according to nonprofit CompTIA’s latest Tech Jobs Report. And among metros, Dallas ranks among the top three for new job postings, though the number of new jobs added month-over-month has declined.

  • Most anyone who has been commuting to work over the past two years has likely noticed a decrease in traffic. Brookings Institution noted that metro traffic congestion was cut in half after COVID-19 hit in 2020, attributing it largely to employees working virtually from home, and more flexible work schedules (though government stay-at-home orders figured prominently as well). The think tank has also reported that 18 million households in rural and urban America are without broadband internet service, which allows streaming of data for smart devices. Considering those factors, the DFW region’s metropolitan planning organization recently informally adopted the policy…