Kiteworks Raises $456M: From Data Breach Woes to Cybersecurity Unicorn
Kiteworks, the cybersecurity unicorn, raises $456 million to secure email communications and sensitive data, with plans for acquisitions and growth. The San Mateo-based company, valued at over $1 billion, aims to bolster its already profitable operations and expand its reach in an industry plagued by IT breaches.
Hot Take:
Kiteworks just went from a phoenix rising from the ashes to a fire-breathing dragon with a $456 million treasure chest. Who knew securing emails and files could be so lucrative?
Key Points:
- Kiteworks, formerly known as Accellion, secures a $456 million investment from Insight Partners and Sixth Street Growth.
- The company is now valued at over $1 billion, officially making it a unicorn.
- Kiteworks has plans for acquisitions, hiring, R&D, and business development with the new funds.
- The company serves 100 million end users and more than 3,650 global enterprises and government agencies.
- Kiteworks is the “only security platform authorized by FedRAMP” for certain activities in the U.S.
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