US cybersecurity software technology company Semperis has raised more than $200 million in a financing round led by KKR & Co Inc. The round also saw the participation of existing investors such as Insight Partners and new investors like Ten Eleven Ventures.
The cybersecurity firm failed to disclose its latest valuation but it was last valued at $142 million after raising $40 million back in May 2020. The funding received from KKR & Co was received through its Next Generation Technology Growth Fund II.
According to the company, it has experienced impressive growth as companies continue to invest in security solutions causing the demand to rise. Semperis was founded back in 2014 and is a leading cybersecurity company. The company provides identity security solutions and according to its website, “We’re on the front lines of a new cyberwar with virtually no boundaries or rules. Nothing is off-limits to today’s threat actors—not even targets that endanger public safety, including emergency services, hospitals, schools, financial institutions, and insurance companies.”
The company reported revenue of $11.6million back in 2020 and says that revenue has continued to double year-over-year.
According to the company’s Chief Executive Officer Mickey Bresman, “We are focusing on identity-driven cyber resilience and threat mitigation because in this new reality where companies are working remotely and accessing applications and assets in the cloud, putting everything behind a firewall no longer offers the same degree of protection.”
Semperis’ plan for the new funding it received is to grow its research and development team across the United State, Isreal, and Canada while it continues to grow its user base in Asia and Europe.
It will also be expanding from identity protection that it is known for into offering protection for the entire cloud data of its customers.