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Kiteworks Funding Rounds and Valuation

Funding History Chart

Funding Round Details

	Funding Date	Share Class	Amount Raised	Price per Share	Post-Money Valuation	Key Investors
	08/14/2024	Series 5	$228MM	$xx.xx	$1.02B	Insight Partners, Sixth Street Growth
Price per Share $xx.xx Shares Outstanding 37,907,500 Liquidation Pref Order 2 Liquidation Pref As Multiplier 1.7x Conversion Ratio 1.0x Dividend Rate 14.0% Cumulative Cumulative Participating Non-participating Participation Cap -- Key Investors Insight Partners, Sixth Street Growth
	08/14/2024	Series 6	$228MM	$xx.xx	$1.02B	Insight Partners, Sixth Street Growth
Price per Share $xx.xx Shares Outstanding 3,790,750 Liquidation Pref Order 1 Liquidation Pref As Multiplier 1.7x Conversion Ratio 1.0x Dividend Rate 14.0% Cumulative Cumulative Participating Non-participating Participation Cap -- Key Investors Insight Partners, Sixth Street Growth

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Kiteworks News and Media Highlights

FINSMES 08/15/2024

Kiteworks Raises $456M in Funding

Kiteworks, a San Mateo, CA-based company which specializes in secure content communications, raised $456M in funding. Backers included Insight Partners and Sixth Street Growth. Eoin Duane and Peter Sobiloff from Insight Partners and Alex Katz from Sixth Street will join the Kiteworks board of directors. The company intends to use the funds to strengthen its 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.

Wall Street Journal 08/14/2024

Insight Partners and Sixth Street Invest $456 Million in Kiteworks

Technology investors Insight Partners and Sixth Street Partners are pumping $456 million into cybersecurity company Kiteworks, betting that escalating risk and regulatory scrutiny will spur demand for data protection from businesses and government agencies. Kiteworks Chief Executive Jonathan Yaron said the growth investment values the company at more than $1 billion and marks an exit for private-equity firm Bregal Sagemount. In 2020, Bregal led a $120 million financing round in Kiteworks, then known as Accellion, that valued it at less than half its current valuation, he said.

Tech Crunch 08/14/2024

Kiteworks captures $456M at a $1B+ valuation to help secure sensitive data

Mark up another unicorn and large funding round for the cybersecurity industry: Kiteworks, which builds tools to secure email communications, file sharing and situations where people work with sensitive data, has raised $456 million from Insight Partners and Sixth Street Growth. The investment values the company at over $1 billion. It’s a notable development for the San Mateo-based startup, which was formerly known as Accellion and suffered a major data breach in 2021. That incident, related to legacy services, impacted at least 300 organizations, including Morgan Stanley, the University of California, Kroger and Shell.

Global Newswire 03/08/2022

Accellion, Now Kiteworks, Shows Commitment to the Australia and New Zealand Market One Year After Its Breach by Achieving IRAP Certification for PROTECTED Level Data

Kiteworks, the leading platform for ensuring regulatory compliance and effectively managing risk with every send, share, receive, and save of sensitive content, announced today it completed and achieved compliance with the Infosec Registered Assessors Program (IRAP) assessed for up to PROTECTED level data classification. This certification further extends Kiteworks’ extensive compliance with global industry standards overseen by the Australian Cyber Security Centre (ACSC).

Last Funding Round
Arctic Wolf	$8.00	$xx.xx	Series F	$4.34B	$xx.xx	$75MM
Illumio	--	$xx.xx	Series F	$2.75B	$xx.xx	$236.25MM
Netskope	$10.75	$xx.xx	Series H	$7.5B	$xx.xx	$300MM
Nord Security	--	$xx.xx	--	--	--	--
SandboxAQ	$17.21	$xx.xx	Series E	$5.61B	$xx.xx	$300MM
Snyk	$7.59	$xx.xx	Series G	$7.4B	$xx.xx	--
Socure	$5.00	$xx.xx	Series E	$4.45B	$xx.xx	$150MM
Tailscale	--	$xx.xx	--	--	--	--
Tanium	$5.40	$xx.xx	Series H	$8.93B	$xx.xx	$150MM
Wiz	--	$xx.xx	Series F	$12.52B	$xx.xx	$85MM

Updated on: Dec 25, 2024

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Updated on: Dec 25, 2024

PLEASE READ THESE IMPORTANT LEGAL NOTICES & DISCLOSURES

Forge Price™ is a custom data-point calculated and disseminated by Forge Data LLC (“Forge Data”) and is a mark of Forge Data. Forge Price may rely on a very limited number of inputs in its calculation. Forge Price is prepared and disseminated solely for informational purposes. Redistribution is permitted solely with Forge’s written consent. While Forge has obtained information from sources it believes to be reliable, Forge does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives. Forge does not guarantee the accuracy, completeness, timeliness, or availability of Forge Price, and are not responsible for any errors or omissions, regardless of the cause, or any results obtained from the use of Forge Price. Forge Price is derived from secondary activity on the Forge platform and other private market trading platforms, and other publicly-available datapoints collected by Forge. Forge Price is not intended to, and does not necessarily, represent the market price of any securities (I.e., the price at which you could buy or sell such securities). Neither reference to company names, nor calculation of Forge Price for a specific company, implies any affiliation between Forge and that company, any endorsement or sponsorship by Forge of any company or vice versa, or any partnership, joint venture or other commercial relationship between Forge and any company. Rights with respect to any company marks referred to herein are owned by the company.
The Last Closed Trade price displayed reflects the price at which the last trade in this company's security occurred on Forge, and can include secondary trades in any class of the company's security, or trades in units of funds holding the company's securities (the economics of which differ versus direct company ownership). The date displayed reflects the date on which the last trade in this company's security closed on Forge. This may be several weeks after the terms of the trade were agreed upon between the buyer and seller. In case of multiple trades closed on the same date, the price displayed is of either (i) the trade which terms were agreed upon most recently; or (ii) the trade with the higher notional value.
Post-Money Valuation represents the estimated valuation based on company-submitted Certificates of Incorporations (COIs).
Last Known Valuation represents a valuation gathered from non-COI, publicly available sources including company press releases or multiple concurring news articles.

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