Private equity firm Insight Partners agreed yesterday to acquire a controlling interest in Recorded Future, a US-based threat analysis software provider backed by corporates Alphabet, RELX and Massachusetts Mutual Life Insurance.
The deal values Recorded Future at $780m, though the company has not confirmed whether it has been wholly acquired or which existing investors are set to exit through the transaction. Mike Triplett and Thomas Krane from Insight are joining its board of directors.
Founded in 2009, Recorded Future provides software that combines machine learning with data aggregated from technical sources as well as the open and dark web which is then updated in real time in order to detect possible threats to an organisation.
The company has more than 400 customers it claims include 91% of the Fortune 100, and will utilise Insight’s consulting division, Insight Onsite, to expand post-acquisition.
The deal reportedly follows approximately $58m in funding. Insight led Recorded Future’s last round, a $25m series E in late 2017 that followed a $12m series D round led by REV (then known as Reed Elesvier Ventures), a subsidiary of analytics services and technology provider RELX, two years before.
Internet and technology group Alphabet and insurance firm Massachusetts Mutual took part in the round through GV and MassMutual Ventures respectively, and were joined by In-Q-Tel, IA Ventures and Balderton Capital.
Recorded Future had already received $12m in series C funding from GV, In-Q-Tel, IA Ventures, Balderton Capital and Atlas Venture in 2012.
Christopher Ahlberg, Recorded Future’s co-founder and chief executive, said: “This transaction is the logical next step for Recorded Future given the opportunities in front of us, as we fully realise the potential and vision of our strategy.”
