A Schaffhausen-based cyber risk specialist took in $147 million in funding, including from U.S. investment bank Goldman Sachs. The funds are to be used for expanding – including by dealmaking.
Acronis won $147 from investors including Goldman Sachs, the Swiss company said in a statement on Wednesday. The 15-year-old cyber protection provider said it would use the funds for acquisitions, hiring engineers in Singapore, Bulgaria, and the U.S., and to expand in North America, and build more data centers.
The Schaffhausen-based firm, which doesn't disclose financial results, said it grew its business by 20 percent last year, and is on track for growth of nearly one-third this year. Its cyber cloud business – which it said is set to double this year – will drive growth, Acronis boss and founder Serguei Beloussov said.
Billion-Dollar Target
Acronis said it has been profitable since selling part of its business to an outside firm in a secondary transaction for $11 million in 2004. It is targeting $1 billion in revenue by 2022, it said. Beloussov and co-founder Ilya Zubarev together hold more than 70 percent of the company. The two don't rule out listing Acronis' shares.
Acronis said the fundraising sets its valuation at more than $1 billion, without detailing the financial specifics behind this estimate. The company was founded in Singapore in 2003, and incorporated in Switzerland in 2008. It employs more than 400 people in 18 countries.
