Investors seem to be digging cybersecurity yet again.
A week after closed a $250 million Series D that valued the startup at $5.1 billion, secure content company raised a $456 million round from (which also participated in the Abnormal round) and .
The San Mateo, California-based company described the new round as 鈥済rowth equity,鈥 but also said it was a 鈥減artial liquidity event,鈥 meaning some investors were able to cash out.
While the company did not specify a valuation, it did state it was a minority investment, meaning its valuation is greater than $1 billion.
Kiteworks鈥 platform allows customers to share sensitive data with other trusted parties via communication channels such as email and file sharing.
In 2020 the company raised $120 million in a funding round led by . Founded in 1999, Kiteworks has raised .
The company was formerly known as Accellion and suffered a major data breach in .
Cyber funding
Kiteworks鈥 and Abnormal鈥檚 rounds seem to indicate a continuing comeback for cybersecurity funding.
In the second quarter of 2024, cyber startups saw a robust $4.4 billion invested, according to SA国际传媒 . The dollar figure represents a 63% increase from Q1, which saw $2.7 billion roll to startups in 173 deals.
It was the best quarter for funding in the sector since Q1 2022 and a 144% increase from Q2 2023.
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Related reading:
- Cybersecurity Funding Jumps 144% In Q2
- Email Cybersecurity Firm Abnormal Hits Unicorn Status After $210M Raise
- Cybersecurity Startup Abnormal Security Locks Up $250M At $5.1B Valuation
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