KnowBe4 raises $300 million from KKR

KKR

America’s private equity giant, KKR said it has invested $300 million in KnowBe4, a cybersecurity company.

KKR said in an emailed statement the raising saw significant participation from existing investors Elephant and TenEleven Ventures.

“We built KnowBe4 to serve an important market need and it’s very, very gratifying to have reached this milestone as evidence that we’re doing what we set out to do,” said Stu Sjouwerman, CEO of KnowBe4. “Threats like phishing, ransomware and other forms of social engineering continue to plague organizations of all sizes, meaning the market for our security awareness training is growing at a rapid pace. The relationship we started with KKR earlier this year has been fruitful for both of us. This new round enables KnowBe4 to continue to focus on helping our clients build a human shield against cyber threats, while also accelerating KnowBe4’s roll out in new markets to help more companies around the globe.”

“2019 is on track to be another record year for KnowBe4, which is experiencing accelerating growth at significant scale. We see KnowBe4 as a category-defining asset driving a significant impact within a critical vertical of cyber security and are very excited to extend our support in this new round of financing,” said Stephen Shanley, Director at KKR.

Patrick Devine, Principal at KKR, added, “Cyber threats are not going to be solved with technology alone; the human side of the equation matters and KnowBe4 is making important contributions in this area. We’re very excited to watch the company continue to scale globally and meet market demand for security awareness training and testing that actually works.”

KowBe4 is the world’s largest security awareness training and simulated phishing platform. The new investment values the company at $1 billion.