KnowBe4, a Clearwater, Florida-based cybersecurity company, as per recent reports, has reached the $1 billion valuations, following the recent $300 million investment funding, led by KKR, a New York, NY-based global investment firm. The funding round was also participated by KnowBe4’s existing investors Elephant and TenEleven Ventures, with the latter joining KKR in making an initial investment in KnowBe4, earlier this year. The New York-based KKR plans to invest in KnowBe4 using its Next Generation Technology Fund.
KnowBe4 – the world’s largest security awareness training and simulated phishing platform, creates an “educated human firewall” within any organization. More than 90% of advanced and targeted attacks involve employees, who fall prey to phishing incidents. KnowBe4, serving a huge customer base of more than 25,000 organizations, has over $100 million in recurring revenue.
KnowBe4 plans on utilizing this recent investment to fund its platform development process, to achieve global expansion.
“We built KnowBe4 to serve an important market need and it’s very, very gratifying to have reached this milestone as evidence that we’re doing what we set out to do,” states KnowBe4’s CEO, Stu Sjouwerman. “Threats like phishing, ransomware and other forms of social engineering continue to plague organizations of all sizes, meaning the market for our security awareness training is growing at a rapid pace.”