Iboss Cybersecurity raised $35 million from Goldman Sachs' Private Capital Investing group, in a Series A transaction that values the company in excess of $500 million.

The San Diego, California-based cyberanalytics firm provides threat monitoring and response services for clients that include Xerox, Sears and the U.S. Department of the Interior.

Iboss President Peter Martini said the company really “didn't need the money,” but sought outside funding to foster relationships with financial investors, according to TechCrunch. Iboss is considering a public offering within “roughly the next 24 months,” he added.

“This funding from Goldman Sachs will provide significant resources for expanding research and development into new technologies along with international expansion,” said CEO Paul Martini, in a statement.

The Series A transaction will give the investment group a minority stake in the company. Vice President Stephen Kerns, a Goldman tech banker will join the board.