Cybersecurity firm Semperis raises over $200 million in KKR-led round
Reuters
Published May 24, 2022 04:27AM ET
By Krystal Hu
(Reuters) - U.S. cybersecurity software firm Semperis said it has raised over $200 million in a funding round led by private equity firm KKR & Co (NYSE:KKR) Inc at a valuation substantially higher than in its previous round.
Existing investors including Insight Partners and new investors such as Ten Eleven Ventures joined KKR in the round, Semperis told Reuters.
While the firm did not disclose its latest valuation, it was valued at about $142 million after raising $40 million in May 2020, showed data from private market data provider PitchBook.
The Hoboken, New Jersey-based identity security company said it has since experienced robust growth as enterprises invest in security solutions that could better protect them in a remote working environment.
"We are focusing on identity-driven cyber resilience and threat mitigation because in this new reality where companies are working remotely and accessing applications and assets in the cloud, putting everything behind a firewall no longer offers the same degree of protection," said Semperis Chief Executive Mickey Bresman.
Founded in 2014, Semperis provides identity security solutions for hybrid Active Directory users, with a focus on Microsoft (NASDAQ:MSFT)'s Active Directory - a directory service widely used by Fortune 500 companies across industries.
Semperis reported $11.6 million in revenue in 2020 and told Reuters its revenue has more than doubled year-over-year.
With the new funding, Semperis said it plans to grow its research-and-development team across the United States, Canada and Israel, and continue to grow its customer base in Europe and Asia.
It also said it plans to expand beyond identity protection into protecting a customer's entire cloud data.
KKR is investing through its Next Generation Technology Growth Fund II, which raised $2.2 billion from investors in January 2020.
An active investor in cybersecurity companies, KKR's portfolio includes artificial intelligence firm Darktrace PLC and digital identity management company ForgeRock Inc, both of which went public last year.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.