Cybersecurity company from Silicon Valley, Kiteworks specialising in secure content communications, has raised $465 million in funding. The investment came from Insight Partners, which backed Elisity and Forta and Sixth Street Growth. With this round, the company’s valuation surpasses $1 billion, making it a unicorn.
In addition to this, Eoin Duane and Peter Sobiloff from Insight Partners and Alex Katz from Sixth Street will join the Kiteworks board of directors.
Funds utilisation
The company intends to use the funds to strengthen its market position in secure data transfer and collaboration as the only security platform authorised by FedRAMP to provide unified support for file sharing, managed file transfer, and email data communications to meet a broad range of global compliance requirements.
Eoin Duane, Managing Director at Insight Partners, commented, “We were immediately impressed by Kiteworks’ exceptional growth and innovative approach to securing content communications. In today’s complex digital landscape, Kiteworks addresses a critical market need and stands out as a leader in providing effective solutions that significantly improve risk management. We’re excited to partner with the Kiteworks team as they continue to help shape the future of cybersecurity.”
Alex Katz, Managing Director at Sixth Street Growth, added, “Jonathan and the Kiteworks team are proven innovators and have architected a platform which is purpose built to meet the challenges of the most secure and compliance-sensitive organisations. We’re excited to support their continued success and help Kiteworks capitalise on the significant market opportunities ahead.”
What challenge does it tackle?
In recent times, an increasing number of organsations face an expanding cybersecurity risk due to complex third-party ecosystems and an increasingly stringent compliance landscape.
Cybercriminals are targeting sensitive content in growing numbers, with supply chains offering significant opportunities for malicious actors. Meanwhile, compliance regulations such as CMMC, NIS 2, and HIPAA demand robust data protection measures.
This is where Kiteworks comes into the picture. As cyber threats evolve and regulatory environments become more complex, Kiteworks helps organisations worldwide safeguard their most valuable digital assets.
What does the company do?
Led by CEO Jonathan Yaron, Kiteworks aims to empower organisations to effectively manage risk in every send, share, receive, and save of sensitive content. Its platform provides customers with a private content network that delivers content governance, compliance, and protection. It also unifies, tracks, controls, and secures sensitive content moving within, into, and out of their organisation, improving risk management and ensuring regulatory compliance on all sensitive content communications.
The company protects over 100 million end users for over 3,650 global enterprises and government agencies.
Jonathan Yaron, CEO and Chairman of Kiteworks, stated, “This minority stake investment affirms Kiteworks’ role in providing a revolutionary solution to the world’s growing challenge of tracking and controlling sensitive data in motion and use. With recent groundbreaking innovations such as Next-Gen Digital Rights Management, combined with the growing industry and regulatory focus on tracking and controlling the data layer, the road to realising our vision has never been clearer. We’re excited to accelerate our growth and continue innovating to meet the evolving needs of our customers with the support of Insight Partners and Sixth Street Growth.”
