News
Kiteworks Private Content Network (“PCN”) Vision Validated by $450M
August 2024 by Marc Jacob
Kiteworks announced a $450 million growth-equity investment from global software investors Insight Partners and Sixth Street Growth. The investment, a partial liquidity event, will strengthen Kiteworks’ market position in secure data transfer and collaboration as the only security platform authorized by FedRAMP to provide unified support for file sharing, managed file transfer, and email data communications to meet a broad range of global compliance requirements.
The new investment comes as organizations face an expanding cybersecurity risk due to complex third-party ecosystems and an increasingly stringent compliance landscape. Cybercriminals are targeting sensitive content in growing numbers, with supply chains offering significant opportunities for malicious actors. Meanwhile, compliance regulations such as CMMC, NIS 2, and HIPAA demand robust data protection measures.
Kiteworks has been able to deliver outstanding financial performance, combining “Rule of 50-level” organic growth with a proven M&A strategy and execution. This performance positions Kiteworks as a market leader in the PCN space and one of the most successful technology companies operating in the industry.
The Kiteworks PCN addresses critical cybersecurity challenges facing organizations worldwide by unifying the primary content communication channels of file share, file transfer, managed file transfer, email, APIs, and web forms into a dedicated secure platform. The investment from Insight Partners and Sixth Street Growth not only validates the company’s vision but also signals a broader recognition of the essential role that secure content communication plays in today’s digital landscape. As cyber threats evolve and regulatory environments become more complex, Kiteworks stands ready to help organizations worldwide safeguard their most valuable digital assets.
Eoin Duane and Peter Sobiloff from Insight Partners and Alex Katz from Sixth Street will join the Kiteworks board of directors.
Moelis & Company LLC has acted as exclusive financial advisor to Kiteworks. Legal advisory services to Kiteworks were provided by Pillsbury Winthrop Shaw Pittman LLP.
Paul Hastings LLP acted as legal counsel to Sixth Street Growth on the investment. Willkie Farr & Gallagher acted as legal counsel to Insight Partners.
