Global private equity giant KKR has led a $90m growth funding round for cybersecurity attack testing business NetSPI.
Ten Eleven Ventures also took part in the round, which NetSPI said would be used to expand its cybersecurity and client experience teams, invest in product innovation and deep operations across US and international markets.
KKR principal Ben Pederson said, “NetSPI has built a differentiated suite of tech-enabled services that are not only enhancing cybersecurity for complex global enterprises across a wide range of industries but are simultaneously disrupting the traditional penetration testing market in order for these enterprises to security test at scale.”
Cybersecurity spending is expected to exceed $200bn per year by 2024, according to a recent Bloomberg Intelligence report.
NetSPI CEO Aaron Shilts added, “The reality is that cyber security attacks today are inevitable and put organizations at grave risk.
“At NetSPI, we strive to stay one step ahead of hackers, breaches, and bad actors by focusing on prevention-based security techniques.”
KKR is investing in NetSPI through its Next Generation Technology Growth Fund II, which it closed on $2.2bn at the beginning of last year.
Other recent deals made using the fund include leading a €100m Series C round for driver training and road awareness specialist Ornikar.
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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/kkr-backs-online-attack-testing-specialist-netspi-as-global-cybersecurity-spending-booms.html
