KnowBe4 to Receive Significant Investment from KKR
March 2019 by Marc Jacob
KnowBe4 announced that it has entered into an agreement to receive a sizable minority investment from leading global investment firm KKR, with participation from Ten Eleven Ventures. The investment, which values the company at over $800 million, comes off the back of an exceptional 2018 for KnowBe4, which reached $120 million of bookings and revenue growth of 110 per cent.
According to the 2018 Verizon Data Breach Report, phishing and pretexting represent 98 per cent of social incidents and 93 per cent of breaches. KnowBe4 helps organisations reduce their risk of an attack by educating users to recognise, report and avoid threats. KnowBe4’s market-leading approach to security awareness training and simulated phishing tests is designed to help employees make smarter security decisions. By building a ‘human firewall’ of users, KnowBe4 customers have an added line of defence on top of security technologies that cannot protect organisations by themselves. KnowBe4 continually produces fresh content, combined with simulated phishing tests, to continually educate users about threats such as phishing, malware and social engineering. KnowBe4’s platform is used by more than 23,000 organisations across a variety of industries, including highly regulated fields such as finance, healthcare, energy, government and insurance.
KKR will be making its investment through its Next Generation Technology Fund, which focuses on investments in software, security, Internet, digital media, and information services. KnowBe4 expects to use the funds to strengthen the company’s international expansion and to further invest in adding to their suite of highly innovative security training modules.