KKR leads $300M investment in phishing training company KnowBe4
You might not have known about KnowBe4 before, but you should now because this morning, the company announced a massive $300 million investment led by private equity firm KKR. The deal is based on a $1 billion valuation. Existing investors Elephant and TenEleven Ventures also participated in the round.
The massive influx of cash comes on top of a $50 million round in March, also led by KKR. They really, really like this company. Today’s investment brings the total raised to $393 million, which is a fair amount of money for a company that helps train employees to recognize phishing emails.
KKR director Stephen Shanley says his company sees a lot of potential for KnowBe4, as a market leader in this space. “The business is delivering a best-in-class product, over $100 million of recurring revenue, near triple digit growth that is accelerating, and profitability — a rare combination of qualities we see in businesses at this stage. We see a huge opportunity for the business in both it’s current markets and in its international roll out strategy,” Shanley told TechCrunch.
You would think it’s a solved problem, or at least a smaller problem, but the phishing attempts grow ever