(Bloomberg) — Cybersecurity provider Acronis raised $250 million in new funding from institutional investors earlier this year to expand its business, including through acquisitions and hiring.
The fresh investment valued the company at more than $3.5 billion, an Acronis representative said in a statement. BlackRock Inc. was among those to participate in the deal, according to people familiar with the matter, who asked not to be identified discussing confidential information.
A spokesperson for BlackRock declined to comment.
Acronis was last valued at $2.5 billion in May 2021 after receiving a $250 million investment from CVC Capital Partners VII and others. It’s also previously raised funding from Goldman Sachs Group Inc.
News of the funding comes as startups such as Klarna Bank AB slash their valuations against a backdrop of rising interest rates. Cybersecurity companies have benefited from a boom in demand as tensions between Russia and the West over the invasion of Ukraine have fueled fears of attacks in NATO countries.
Goldman-Backed Acronis Scores CVC Funds at $2.5 Billion Value
Founded in Singapore in 2003 and incorporated in Switzerland five years later, Acronis offers a variety of cybersecurity and data protection products for businesses and individuals. It has more than 2,000 employees and offices across 34 locations, and says its solutions are used by 5.5 million home users and 500,000 companies. Clients include sports teams such as American football’s Chicago Bears and baseball’s Boston Red Sox, according to the company’s website.
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