— Jonathan Yaron, Kiteworks CEO
SAN MATEO, CA, USA, August 14, 2024 /EINPresswire.com/ — Kiteworks, a leader in secure content communications, today announced a $456 million growth equity investment from global software investors Insight Partners and Sixth Street Growth. The investment, a partial liquidity event, will strengthen Kiteworks’ market position in secure data transfer and collaboration as the only security platform authorized 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.
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 realizing 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.”
The new investment comes as organizations 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.
Kiteworks has been able to deliver outstanding financial performance, combining “Rule of 50-level” organic growth with a proven M&A strategy and execution. This performance positions Kiteworks as a market leader in the PCN space and one of the most successful technology companies operating in the industry.
The Kiteworks PCN addresses critical cybersecurity challenges facing organizations worldwide by unifying the primary content communication channels of file share, file transfer, managed file transfer, email, APIs, and web forms into a dedicated secure platform.
The investment from Insight Partners and Sixth Street Growth not only validates the company’s vision but also signals a broader recognition of the essential role that secure content communication plays in today’s digital landscape. As cyber threats evolve and regulatory environments become more complex, Kiteworks stands ready to help organizations worldwide safeguard their most valuable digital assets.
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 organizations. We’re excited to support their continued success and help Kiteworks capitalize on the significant market opportunities ahead.”
Eoin Duane and Peter Sobiloff from Insight Partners and Alex Katz from Sixth Street will join the Kiteworks board of directors.
Moelis & Company LLC has acted as exclusive financial advisor to Kiteworks. Legal advisory services to Kiteworks were provided by Pillsbury Winthrop Shaw Pittman LLP.
Paul Hastings LLP acted as legal counsel to Sixth Street Growth on the investment. Willkie Farr & Gallagher acted as legal counsel to Insight Partners.
About Kiteworks
Kiteworks’ mission is to empower organizations to effectively manage risk in every send, share, receive, and save of sensitive content. The Kiteworks platform provides customers with a Private Content Network that delivers content governance, compliance, and protection. The platform unifies, tracks, controls, and secures sensitive content moving within, into, and out of their organization, significantly improving risk management and ensuring regulatory compliance on all sensitive content communications. Headquartered in Silicon Valley, Kiteworks protects over 100 million end users for over 3,650 global enterprises and government agencies.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit https://www.insightpartners.com/ or follow us on X @insightpartners.
About Sixth Street Growth
Sixth Street Growth invests in mid- and late-stage technology companies. The Sixth Street Growth team partners with founders and management teams to provide differentiated capital solutions that accelerate organic and inorganic growth. Sixth Street Growth is the dedicated growth investing platform of Sixth Street, a leading global investment firm with over $75 billion in assets under management and committed capital. Sixth Street has invested over $10 billion in more than 70 companies through its Growth franchise since inception. For more information, visit www.sixthstreetgrowth.com and follow Sixth Street on LinkedIn.
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