Private equity firm CVC Capital Partners has led a US $150 million fund raising for Skybox Security, which provides cybersecurity management.
Under the deal CVC is providing Skybox with $100 million in growth equity investment and private equity firm Pantheon is providing $50 million.
Skybox is based in Silicon Valley and builds cybersecurity management software that uses analytics to protect businesses from cyberattack in physical, virtual, cloud and operational technology environments.
The company’s platform, the Skybox Security Suite, enables organizations to reduce security risks that attackers can find and exploit, such as device misconfigurations and policy violations, as well as exposed and unpatched vulnerabilities.
Its customers include global companies and government agencies in more than 50 countries and nearly every industry.
For the past three years the business has had a compound annual growth rate (CAGR) of 46 percent and positive cash flow. In the first half of 2017 Skybox had a 62% increase in sales compared to the same period last year.
The funding will be used to invest in sales and marketing, customer care and R&D. It will also be used for potential M&A activity.
Jason Glass, senior managing director of CVC Growth Partners said: “Skybox’s track record is impressive and there is clear demand for their solutions. It is a true leader in cybersecurity management, helping organizations better protect themselves and become more efficient.”
Skybox co-founder and CEO Gidi Cohen added: “Enterprises, governments... everyone is either embarking on or going through massive digital transformation, and this means new challenges for security because the attack surface of these organizations is growing more complex. We’ve been consistently evolving our technology to meet those challenges. With this investment, we’ll accelerate that innovation, focusing on some of the most critical areas, such as security management for the cloud and the OT networks that control critical infrastructure.”
Jason Glass and John Clark, managing partner of CVC Growth Partners, will join Skybox’s board of directors.