Switzerland-based cybersecurity technology developer Acronis received $147m yesterday in a funding round led by investment bank Goldman Sachs.
The other participants in the round have not been disclosed but it increased the company’s valuation to more than $1bn.
Founded in Singapore in 2003, Acronis has built a suite of cybersecurity products that span a wide range of applications such as data protection and storage, authenticity and accessibility. The company has more than 5 million users and 500,000 enterprise clients.
The funding will allow Acronis to grow its engineering teams in the US, Singapore and Bulgaria, make strategic acquisitions and drive business growth in North America through a partnership with Acronis SCS, an independent vendor and distributor for the public sector.
Serguei Beloussov, Acronis’ founder and chief executive, said: “Recently we announced the Acronis Cyber Platform, enabling third parties to customise, extend and integrate our cyber protection solutions to the needs of their customers and partners.
“The investment round led by Goldman Sachs will help us to fast-track the product development through acquisitions of companies and additional resources, and accelerate the growth.”
Details about Acronis’ early funding are sparse. It had raised an undisclosed amount from venture capital firm OpenView Venture Partners and VC fund manager ABRT Venture Fund as of 2007, while reports from 2008 indicated it had by that point secured at least $11m from VC firm Insight Partners.
