KnowBe4 has successfully raised $300 million in a single funding round, achieving a valuation of $1 billion. The company specializes in security awareness training and simulated phishing platforms.
Keep reading to explore the intricacies of KnowBe4's fundraising journey and the investors backing this innovative platform.
What Is KnowBe4?
KnowBe4, founded in Clearwater, Florida, is the world's largest provider of security awareness training and simulated phishing platforms. The company helps organizations manage social engineering threats by training employees to make smarter security decisions.
Founded by Stu Sjouwerman, KnowBe4 has grown significantly since its inception. The company has multiple global offices, including locations in Dubai, Singapore, and the United Kingdom.
With a workforce of between 1001-5000 employees, KnowBe4 continues to expand its reach and impact in the cybersecurity industry.
How Much Funding Has KnowBe4 Raised?
- Amount Raised: $8 million
- Date: December 2014
- Lead Investors: Elephant Partners
- Motivation Behind the Round: To expand the company's product offerings and accelerate growth.
- Amount Raised: $30 million
- Date: October 2016
- Lead Investors: Elephant Partners
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Amount Raised: $50 million
- Date: March 2018
- Lead Investors: KKR
- Motivation Behind the Round: To expand globally and invest in new technologies.
- Amount Raised: $300 million
- Date: June 2019
- Lead Investors: KKR
- Valuation at Round: $1 billion
- Motivation Behind the Round: To solidify its market position and pursue strategic acquisitions.
In total, KnowBe4 has raised $388 million with a current valuation of $1 billion.
Key Investors
- KKR
- Details: KKR & Co. Inc. is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. The firm has a long history of successful investments and is known for its strategic approach to value creation.
- Investment Focus Areas: Private equity, infrastructure, real estate
- Notable Investments: ByteDance, Epic Games, GoDaddy
- Elephant Partners
- Details: Elephant Partners is a venture capital firm that focuses on early-stage and growth investments. The firm is known for its hands-on approach and deep industry expertise.
- Investment Focus Areas: Technology, consumer internet, software
- Notable Investments: Scopely, Allbirds, Warby Parker
- Ten Eleven Ventures
- Details: Ten Eleven Ventures is a venture capital firm that exclusively invests in cybersecurity companies. The firm leverages its deep industry knowledge to support innovative cybersecurity startups.
- Investment Focus Areas: Cybersecurity, enterprise software, data protection
- Notable Investments: Darktrace, Verodin, Cylance
- Summit Partners
- Details: Summit Partners is a global alternative investment firm that invests in growth equity, fixed income, and public equity opportunities. The firm has a strong track record of helping companies scale and achieve long-term success.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Uber, Avast, Infor
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. The firm provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Financial services, technology, healthcare
- Notable Investments: Facebook, Spotify, Uber
What's Next for KnowBe4?
As the cybersecurity landscape continues to evolve, KnowBe4 is poised to capitalize on the growing demand for robust security solutions. The company's recent valuation of $1 billion underscores the vast opportunities available, particularly in expanding its global footprint and enhancing its product offerings. With the backing of major investors like KKR, KnowBe4 is well-positioned to explore new markets and form strategic partnerships.
Future fundraising efforts are likely to be bolstered by the increasing importance of cybersecurity, as organizations worldwide seek to fortify their defenses against sophisticated threats. However, KnowBe4 will need to navigate challenges such as intensifying competition and the ever-changing nature of cyber threats. Continuous innovation and adaptation will be crucial for maintaining its market leadership and achieving sustained growth.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like KnowBe4 and gather other critical business insights. Sign up for free today and unlock the potential of data-driven decision-making.
