Cybersecurity firm Acronis pulls in $250m in CVC-led funding

Cyber protection provider Acronis raised over $250m in a funding round that set a $2.5bn valuation for the Swiss company.

CVC Capital Partners led the financing, bringing total known funding to date for Acronis to more than $400m. This round comes after the firm previously raised $190m in 2019, which was led by Goldman Sachs.

The Singapore-founded company said the funds will also go towards boosting its teams across all verticals with a focus on technical talent for its research and development centres in Singapore, Bulgaria and Israel, as well as in Switzerland and the US. It seeks to double its engineering headcount of about 1,000 in the next three years.

The funding will also help it build its marketing efforts in cybersecurity and data protection solutions and expand data centres.

Acronis’ offerings include cyber protection for data, applications and systems with next-generation antivirus, backup, disaster recovery and endpoint protection management solutions as well as patch management and anti-malware protection. Its data protection and cybersecurity services are used by over 500,000 companies as well as more than 5.5 million consumers.

In the long-term future, the firm might look at going public with New York, Switzerland or Singapore as potential locations if it were to opt for an initial public offering, it said.

Furthermore, Acronis CEO Serguei “SB” Beloussov said that the firm’s key focus will be “to develop market-leading technology and help our partners grow their profits, while providing the best protection for their clients.”

In February, the company launched the #CyberFit Partner Program to support the development of cloud-focused resellers and service providers. In March, Acronis made available a new version of Acronis Cyber Protect Cloud, enabling partners to deliver comprehensive cyber protection for all workloads for little to no upfront cost. In April, Acronis introduced a new partner portal, providing easy access to content, tools, and training for partners.

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