Skybox Security announced today the company signed a definitive agreement to receive a $150 million growth equity investment led by CVC Capital Partners’ Growth Fund (CVC Growth) for $100 million, with participation from Pantheon for $50 million. CVC Capital Partners is a leading private equity and investment advisory firm, and Pantheon is a prominent global investor in private equity, infrastructure and real assets.
Based in Silicon Valley, Skybox has a compound annual growth rate (CAGR) of 46 percent and positive cash flow (2014–2016). This round of funding will enable an accelerated investment in sales and marketing, customer care and R&D. It will also be used for potential M&A activity, to capitalize on the approximately $10 billion market opportunity in cybersecurity management.
Skybox builds best–in–class cybersecurity management software that gives customers comprehensive visibility of their unique attack surface. The software uses analytics to prioritize an organization’s risk exposures and recommend informed action to best address those exposures. These capabilities extend across highly complex networks, including those in physical, virtual, cloud and operational technology (OT) environments. The company’s broad platform, the Skybox Security Suite, enables organizations to reduce security risks that attackers can find and exploit, such as device misconfigurations and policy violations, as well as exposed and unpatched vulnerabilities.
“Skybox’s track record is impressive and there is clear demand for their solution“, said Jason Glass, Senior Managing Director of CVC Growth Partners. “It is a true leader in cybersecurity management, helping organizations better protects themselves and become more efficient. Gidi Cohen, Skybox’s co–founder and CEO, is a respected innovator in security management and analytics, and we look forward to working with him and the wider executive team as we expand Skybox’s offering and global reach.”